§ 17-160. Legislative Intent and Purpose.

There is hereby created and established a homebuyer assistance program to be known as the "Homebuyer Loan Program," which shall provide mortgage loan assistance to assist qualified low- and moderate-income individuals and families in the purchase of a primary residence.

This program is intended to assist low- and moderate-income individuals and families, to encourage young professionals and college graduates to invest in and remain in Miami-Dade County, and to encourage homeownership among low- and moderate-income families in order to facilitate the achievement of personal and familial wealth and stabilize communities. The program is also intended to encourage homeownership in the County's Neighborhood Revitalization Strategy Areas ("NRSA") and Neighborhood Outreach Areas ("NOA"), as defined in the County's Five-Year Consolidated Plan filed with the United States Department of Housing and Urban Development ("U.S. HUD") for federal Community Development Block Grant, Home Investment Partnerships Program and Emergency Solutions Grant funding.

The Homebuyer Loan Program shall be the mechanism for providing homebuyer mortgage loan assistance using Documentary Surtax funds. This Homebuyer Loan Program ordinance shall apply only to the use of Documentary Surtax funds and shall not govern the use of state or federal funds.

(Ord. No. 15-127, § 1, 11-3-15)