TALLAHASSEE - On March 4, 2019, the Florida Housing Finance Corporation (Florida Housing)  will relaunch the Florida Hardest-Hit Fund Down Payment Assistance Program (HHF-DPA) in five approved counties. This federal program was implemented to prevent foreclosures by stimulating home purchase activity and stabilizing neighborhoods in certain counties that demonstrated high levels on housing market distress. HHF-DPA provides up to $15,000 in down payment and closing cost assistance to eligible first-time homebuyers and is forgivable over five years. Florida Housing has successfully disbursed 100 percent of the over $1 billion in HHF program funds allocated by the US Department of Treasury (Treasury) two years ahead of schedule and is now using approximately $20 million in repayments of HHF program loans to assist additional Floridians.

Previously, HHF-DPA was available in eleven Florida counties. For the relaunch, Florida Housing used the latest market data to conduct a Treasury-mandated assessment of lingering negative effects in local housing markets. Based on this assessment, Florida Housing will assist eligible first-time homebuyers in the following five counties:  Clay, Duval, Hillsborough, Osceola and Pasco.

“Statistics show that foreclosures have drastically decreased in Florida and that our state has recovered from the housing crisis,” said Trey Price, executive director of Florida Housing. “This funding will further assist with the continued stabilization of recovering, distressed neighborhoods.” 

As of January 31, 2019, 52,742 Florida families have received assistance through HHF programs and more than 20,000 received down payment and closing cost assistance through HHF-DPA. It is estimated that approximately 1,500 eligible first-time homebuyers will be assisted with this additional funding.

First announced on February 19, 2010, by the US Department of the Treasury (Treasury), the “Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets” (HFA Hardest-Hit Fund) provides federal funding to states hardest hit by the aftermath of the burst of the housing bubble. Funding was allocated to 18 states and the District of Columbia.

Click here for eligibility requirements and more information on the HHF-DPA Program. To hear participants discuss their experience with the Hardest-Hit Fund Program click here.

Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit  www.floridahousing.org.

TALLAHASSEE - Florida Housing's upcoming Board of Directors' Meeting will be held on Friday, February 1, 2019 in Tallahassee. The meeting will begin at 8:30 a.m. For Board Package information, please click here.

 Event Details:

Who: Florida Housing's Board of Directors

What: Board Meeting

When: Friday, February 1, 2019, beginning at 8:30 a.m.

Where: Tallahassee City Hall, Commission Chambers
300 South Adams Street
Tallahassee, FL 32301

For more information on this Board Meeting, please contact Sheila Freaney, Board Liaison, at 850-488-4197 or via email at Sheila.Freaney@floridahousing.org.

 Additional Resources and Links
Meet Florida Housing's Board of Directors

TALLAHASSEE, FL - The Florida Housing Finance Corporation (Florida Housing) is releasing $5 million in disaster funds to counties in the Panhandle that were ravaged by Hurricane Michael. After completing the evaluation process regarding the State Housing Initiative Partnership (SHIP) program disaster funds, Florida Housing is allocating the funding to nine impacted counties. The Tier 1 counties include: Bay, Calhoun, Gulf and Jackson. The Tier 2 counties include: Franklin, Gadsden, Liberty, Wakulla, and Washington. Click here to review the complete list of local governments approved to received disaster funding and allocation amounts.

“Many of the counties affected by Hurricane Michael are small, rural counties, and the SHIP dollars allocated here will make a difference getting residents’ lives back in order,” said Trey Price, executive director for Florida Housing. “Florida Housing continues the long process of rebuilding the Panhandle with this much-needed allocation".

The SHIP program provides funds to local governments for their homeownership and rental housing programs. Under Section 420.9073(5), Florida Statutes, Florida Housing is authorized to hold back up to $5 million each fiscal year from the SHIP appropriation for recovery efforts for declared disasters. In previous years, recovery efforts include response to hurricanes, tornadoes, flooding and wildfires.

While SHIP’s role is primarily in long-term housing recovery, each SHIP local government has an adopted disaster strategy that allows for assistance in the immediate aftermath of a declared disaster.  The strategies include, temporary relocation, tree and debris removal, rent assistance, and short-term repairs to prevent further damage to the structure or to allow for occupancy until further repairs are made.

Click here for additional disaster relief information that details Florida Housing resources available throughout the state, as well as other federal, state and local resources.

Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for our hardworking and vulnerable Floridians across the State. For more information, please visit www.floridahousing.org.

TALLAHASSEE, FL - The Florida Housing Finance Corporation (Florida Housing) Board of Directors approved the awarding of financing for the construction of two workforce housing developments in Monroe County during the board meeting held  in December. Florida Housing issued invitations to credit underwriting last week to the approved applicants..

On October 8, 2018, the Corporation issued a request for application (RFA) offering over $1.8 million of Competitive Housing Credits and $15 million in State Apartment Incentive Loan (SAIL) funding to applicants proposing the development of workforce housing for hurricane recovery in Monroe County. This RFA was specifically created to assist with building affordable workforce housing in an area that was devastated by Hurricane Irma in 2017.

“Florida Housing is keeping its commitment of providing long-term housing solutions and resources to the citizens of Florida,” said Trey Price, executive director for Florida Housing. “The construction of affordable workforce housing is imperative in Monroe County as the community continues to rebuild from Hurricane Irma.”

The SAIL program provides developers with the gap funding needed to obtain full financing of affordable rental housing, and the Housing Credits program provides dollar-for-dollar reduction in federal tax liability in exchange for the development of affordable rental housing. SAIL loans are low-interest loans awarded on a competitive basis to developers of affordable rental housing. Click here to view additional information on the applications that were approved.

Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit www.floridahousing.org.