Florida housing targets most vulnerable for additional funding
Special to the Outlook
The Board of Directors for the Florida Housing Finance Corporation (Florida Housing) recently approved three applications to fund affordable housing developments for the homeless in Osceola, Brevard, and Hillsborough County, as well as, two applications for developments for housing persons with a Disabling Condition in Hillsborough and Miami-Dade County. While originally anticipated that these combined RFAs would fund three developments, the exceptional move by the Board allowed additional available resources to be used to fund the next available eligible application in each RFA.
Homeless Developments Funded
Available Low Income Housing Tax Credits (LIHTC) and State Apartment Incentive Loan (SAIL) program dollars allowed Florida Housing’s Board to fully fund all three eligible homeless applications in RFA 2018 – 103. The approval of these affordable housing developments will help address the high percentage of homeless in the area, including Americans who had to evacuate from Puerto Rico and the Virgin Islands due to Hurricane Maria.
Persons with a Disabling Condition Developments Funded
Available LIHTC and SAIL program dollars allowed Florida Housing’s Board to approve the first eligible highest-ranking application under RFA 2018-108. However, Florida Housing’s Board directed staff to use additional available resources in order to fully fund the second eligible highest-ranking application, for a total of two developments that will be fully funded. This action helps these counties address the significant need for permanent supportive housing for persons with a Disabling Condition.
“Florida Housing’s role is to provide long-term housing solutions,” said Trey Price, executive director for Florida Housing. “Considering the need to address homeless housing, as well as, provide supportive housing for persons with a disabling condition in Florida, we are happy that these resources allowed for five developments to be funded. This approval by our Board is an extraordinary reflection and commitment of providing safe, decent housing to the state’s most vulnerable individuals.”
For more information on Florida Housing, visit www.floridahousing.org.