The Palm Bay City Council on Monday unanimously approved revisions to the city’s Local Housing Assistance Plan (LHAP), increasing several award limits and aligning loan forgiveness terms with county and municipal practice.

Jason De Lorenzo, assistant city manager, told council the request would raise the maximum award for purchase assistance with rehabilitation and for owner-occupied rehabilitation from $75,000 to $100,000 and reduce the forgivable-loan forgiveness period from 30 years to 20 years. “...to increase the award maximum from 75,000 to a 100,000,” De Lorenzo said, and he added the forgiveness period change: “we're changing that forgiveness program from 30 years to 20 years, which is consistent with, the other municipalities and, Brevard County.”

De Lorenzo also said the update incorporates an existing municipal resolution (City Resolution 2025-511) that provides building-permit fee reductions for affordable housing projects. The changes were reviewed and approved by the Florida Housing Finance Corporation, which administers SHIP program requirements, De Lorenzo said.

Councilmembers asked clarifying questions about program timing and origin of SHIP funding. De Lorenzo confirmed SHIP funds are state funding derived from documentary stamp receipts on real-estate transactions and refinances.

Councilman Langevin moved to approve the LHAP update; the motion was seconded and the council passed the revisions 4-0. The revisions cover the final year of the plan’s three-year cycle and are intended to respond to rising project costs and to bring Palm Bay’s terms into alignment with neighboring jurisdictions.

Staff did not assign additional local funding at the meeting; implementation depends on available state SHIP allocations and the city’s application of program rules.