§ 308.11. Purpose and intent.

Since 2009, Indian River County has participated in the Neighborhood Stabilization Program, NSP, as created by the Housing and Economic Recovery Act of 2008, the American Recovery and Reinvestment Act of 2009, and the Wall Street Reformed Consumer Protection Act of 2010. The purpose of this chapter is to set forth procedures and standards whereby Indian River County can acquire foreclosed or abandoned properties using Neighborhood Stabilization Program (NSP) funds, rehabilitate those properties with NSP funds, and sell those properties to qualifying low and moderate income households. As such, this chapter provides for:

(1)

Establishment of competition and qualification standards for county acquisition, rehabilitation and sale of foreclosed or abandoned properties in accordance with the NSP;

(2)

Provisions for notice to participants in the NSP;

(3)

Establishment of a form and manner to acquire property;

(4)

Establishment of negotiation or qualification standards that must be met in order for a person to buy a property under the NSP;

(5)

Establishment of a process to provide notice to potential qualified buyers for NSP rehabilitated housing.

(Ord. No. 2012-006, § 2, 5-1-12; Ord. No. 2014-008, § 1(App. A), 4-15-14)

Editor's note

Former § 308.12.