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ITEM: RESOLUTION NO. R2025-24 (FY 2025/2026 - 2027/2028 LOCAL HOUSING ASSISTANCE PLAN (LHAP) FOR STATE HOUSING INITIATIVES PARTNERSHIP (SHIP))
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL APPROVING THE FY 2025/2026-2027/2028 LOCAL HOUSING ASSISTANCE PLAN (LHAP) FOR THE STATE HOUSING INITIATIVES PARTNERSHIP (SHIP); AUTHORIZING THE VILLAGE MANAGER TO FORWARD THE FY 2025/2026-2027/2028 LOCAL HOUSING ASSISTANCE PLAN TO THE FLORIDA HOUSING FINANCE CORPORATION, AND THE STATE OF FLORIDA; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of Resolution No. R2025-24 to approve the FY 2025/2026-2027/2028 Local Housing Assistance Place (LHAP) for the State Housing Initiatives Partnership (SHIP) and authorizing the Village Manager to forward the FY 2025/2026-2027/2028 Local Assistance Plan to the Florida Housing Finance Corporation and the State of Florida.
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EXPLANATION: Wellington remains committed to improving and maintaining its housing stock. Wellington is also committed to obtaining federal and state funds to aid homeowners in maintaining their home. Wellington participates in the Florida Housing Finance Corporation's State Housing Initiatives Partnership (SHIP) Program. SHIP is an affordable housing program enacted into law in 1992 through the William E. Sadowski Affordable Housing Act and is funded by a percentage of the State documentary stamp surtax on real estate transactions. Historically, this has created the largest housing trust fund in the country and has been a significant resource to entitlement cities, such as Wellington in creating and preserving affordable housing.
The State Housing Initiatives Partnership (SHIP) Act, ss. 420.907-420.9079, Florida Statutes (1992), and Rule Chapter 67-37, Florida Administrative Code, requires local governments to develop a one- to three-year Local Housing Assistance Plan (LHAP) outlining how funds will be used. The proposed LHAP outlines the policies and strategies to best serve the community. Owner-occ...
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