§ 17-45.1. Waiver of Capital Charges for Very Low and Low Income Housing

(A)

This section is included in order to comply with the provision of F.S. Chapter 420 and F.S. section 163.3177(6)(f), to encourage the provision of housing for very low and low income families.

(B)

When an existing single-family residence is annexed into the city limits, the city administrator may waive the capital charges required by this chapter according to the following graduated scale if the city administrator finds that the owners of the annexed single-family residence meet the following specified income classifications:

(1)

For a housing unit which will affordable to a "low income" person as defined by F.S. chapter 420, fifty (50) percent waiver of the capital charge for that housing unit.

(2)

For a housing unit which will be affordable to a "very low income" person as defined by F.S. Chapter 420, seventy-five (75) percent waiver of the capital charges for that housing unit.

(C)

Any such waiver shall be only for that portion of the annexed property that meets the minimum income criterion. Upon such waiver, the city administrator shall identify on the record the source of city funds that shall be used to pay the capital charges for the services or facilities that would otherwise have been paid for by the development that received the waiver. The city shall not increase the amount of the impact fee payable under this chapter to replace any revenue utilized from another revenue source because of the waiver granted under this subsection. However, the city administrator may choose to allocate interest earned in any impact fee trust fund to be used to provide waivers as provided herein for similar capital charges.