ORD Reallocating $2,000,000.00 in State Housing Initiative Partnership (SHIP) Grant Funds from the SHIP Owner-Occupied Rehab Prog to the SHIP Downpayment Assistance Prog & SHIP Single-Family Dev Prog; Auth the Mayor, or Her Desig, & the Corp Sec to Execute & Deliver Docs Related to the Approp (B.T. 26-036) (Smith) (Req of Mayor) 1/27/26 CO Introduced: NCSPHS, F Public Hearing Pursuant to Ch 166, F.S. & CR 3.601 - 2/10/26

This ordinance reallocates $2,000,000.00 in State Housing Initiative Partnership (SHIP) grant funds. The funds are being moved from the SHIP Owner-Occupied Rehabilitation Program to the SHIP Downpayment Assistance Program and the SHIP Single-Family Development Program.

Key Details:

• Purpose: To address the shortage of affordable entry-level homes for very low, low, and moderate-income families.
• Reallocation: $2,000,000.00 from rehabilitation to:
  • $1,500,000.00 for the SHIP Single-Family Development Program (short-term construction loans to developers for new homes sold to buyers at or below 50% AMI).
  • $500,000.00 for the SHIP Downpayment Assistance Program (forgivable loans).
• Authorization: The Mayor or her designee, and the Corporate Secretary, are authorized to execute necessary documents.
• Effective Date: Upon signature by the Mayor or when it becomes effective without signature.
• Previous Appropriation: The funds were originally part of the $7,411,733.00 in SHIP funds appropriated by Ordinance 2025-390-E.