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RESOLUTION R04- l ~ [
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, AMENDING THE STATE HOUSING
INITIATWES PARTNERSHIP (SHIP) PROGRAM
LOCAL HOUSING ASSISTANCE PLAN, BY
INCREASING THE LOCAL PURCHASE PRICE LIMITS
AND ADOPTING THE STATISTICAL DATA
PROVIDED BY THE FLORIDA HOUSING FINANCE
CORPORATION; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City has received notice from the U.S. Treasury by Proclamation
Number 2004-18, which significantly raises the price limits throughout the United States
and the Florida Housing Finance Corporation (FHFC) has allowed participating
jurisdictions to increase their purchase price limits for applicants obtaining SHIP funds
based on these new limits; and
WHEREAS, further analysis of the recent sales prices within our city limits, as
well as increased price limits established by surrounding municipalities including Palm
Beach County's Commission on Affordable Housing, dictate the necessity to the City of
Boynton Beach's limits;
WHEREAS, upon the recommendation of staff, the City Commission deems it to
be in the best interests of the citizens and residents of the City of Boynton Beach to
increase the local maximum purchase price for existing homes from $130,000 to
$155,000 and increase the local maximum purchase price for newly constructed homes
from $145,000 to $170,000;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The foregoing "Whereas" clauses are true and correct and are
ereby ratified and confirmed by the City Commission.
Section 2.
. !ereby does:
.i
The City Commission of the City of Boynton Beach, Florida,
a) Increase the local maximum purchase price for existing homes
from $130,000 to $155,000, and
b) Increase the local maximum purchase price for newly
constructed homes from $145,000 to $170,000
Section 3. This Resolution shall become effective immediately upon passage.
:\CAXRESO~Administrative\SHIP Housing Plan amendment 070804.doc
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~.TTEST:
PASSED AND ADOPTED this ~O day of July, 2004.
CITY OF BOYNTON
Vice
Commis
~orate Seal)
FLORIDA
:\CA~RESO\Adminis~:ative\SHlP Housing Plan amendment 070804.doc
STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
90% OF MEDIAN AREA PURCHASE PRICE
Source: Revenue Proclamation 2004-18 - U.S. Department of Treasury
LOCAL GOVERNMENT NEW EXISTING
JACKSONVILLE, FL (MSA) $ 247,500.00 $ 247,500.00
MONROE COUNTY, FL $ 332,466.00 $ 332,466.00
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL. (MSA) $ 280,462.00 $ 280,462.00
NAPLES-MARCO ISLAND, FL (MSA) $ 254,250.00 $ 254,250.00
SARASOTA-BRADENTON-VENICE, FL (MSA) $ 226,350.00 $ 226,350.00
ALL OTHER AREAS $ 189,682.00 $ 189,682.00
*Source: Revenue Proclamation 2004-18