Connect with us

Hi, what are you looking for?

hurricane michael damage in mexico beach 2 - Photo Courtesy of David Gieseking
hurricane michael damage in mexico beach 2 - Photo Courtesy of David Gieseking

Florida Politics

Florida Housing Board Approves $30 Million for Hurricane Michael Impacted Counties

Share this Story via Text Message, Facebook, X, Gmail, Outlook, or Yahoo Mail

Florida Housing staff is now authorized to proceed with the development of a Request for Application (RFA) for HOME Program financing, which will give preference to affordable rental developments to be built in areas most impacted by Hurricane Michael.

Share this Story via Text Message, Facebook, X, Gmail, Outlook, or Yahoo Mail

The Florida Housing Finance Corporation (Florida Housing) Board of Directors announced on Friday that it had approved $30 million in HOME Investment Partnerships Program (HOME) funds targeted towards counties most impacted by Hurricane Michael which hit the Panhandle and parts of the Big Bend back in October.

Florida Housing staff is now authorized to proceed with the development of a Request for Application (RFA) for HOME Program financing and authorize the Executive Director to establish a review committee for the RFA to make recommendations for award to the board in May 2019.

“Florida Housing’s Board of Directors and staff continue to find innovative ways to provide affordable housing and resources to the citizens of Florida. Approving the funding plan today will begin the efforts of building affordable housing in areas where it is needed in the Panhandle – whose families’ lives were devastated by the recent storm,” said Florida Housing’s Executive Director Trey Price after the vote.

This RFA will give preference to affordable rental developments to be built in areas most impacted by Hurricane Michael. Any remaining funds will be made available for developments in rural areas of the state.

The HOME Program provides non-amortized, low interest loans to developers for acquisition and/or new construction of affordable rental housing to low income families. Loans are offered for the financing of first or subordinate mortgages with a simple interest rate of zero percent to nonprofit applicants and 1.5 percent per annum interest rate to for-profit applicants.

Florida Housing was created by the Legislature more than 35 years ago as 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.

Author

  • Florida Daily

    Florida Daily offers news, insights and analysis as we cover the most important issues in the state, from education, to business and politics.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

<

Ed Dean: Publisher

 

Ed Dean is a leading radio and news media personality including hosting the #1 statewide radio talk show in Florida. Contact Ed.Dean@FloridaDaily.com

You May Also Like

Governor Ron DeSantis

Share this Story via Text Message, Facebook, X, Gmail, Outlook, or Yahoo MailLast week, Gov. Ron DeSantis announced more than $24 million in awards...

Economy

Share this Story via Text Message, Facebook, X, Gmail, Outlook, or Yahoo MailGov. Ron DeSantis announced that the Florida Hometown Heroes program has provided...

Housing

Share this Story via Text Message, Facebook, X, Gmail, Outlook, or Yahoo MailAt the end of last week, the Florida Housing Finance Corporation Board...

Business

Share this Story via Text Message, Facebook, X, Gmail, Outlook, or Yahoo MailOver the weekend, Gov. Ron DeSantis announced that Florida Housing Finance Corporation...

Follow us on Social Media