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Leaders across the Sunshine State weighed in after Gov. Ron DeSantis unveiled his $96.6 budget proposal on Thursday. The governor’s proposal is $4.3 billion more than last year’s budget due mostly to federal funds as the number of Floridians enrolled in Medicaid continues to increase.
All funds must be expended by the program’s conclusion on December 30. Homeowners and renters affected by COVID-19 who have not yet applied are encouraged to do so immediately.
First announced by Gov. Ron DeSantis, the $250 million CRF Program was unveiled to assist Floridians impacted by the COVID-19 pandemic with rental and mortgage assistance. Through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), these funds are dedicated to assist tenants living in Florida Housing’s multifamily and special needs developments and other affected homeowners and renters throughout Florida.
The program assists homeless families in regaining housing stability and economic self-sufficiency, while also ensuring their school-aged children remain on track with their education.
Expected to launch September 1, the Hurricane Michael Recovery Loan Program will offer below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualified homebuyers. DPA loans will be zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home.
Ron DeSantis: $75 Million Available for Floridians Needing Help With Rent, Mortgages During COVID-19...
DeSantis announced that the Florida Housing Finance Corporation (Florida Housing) Board of Directors voted without opposition to send $75 million to local governments. The funds are part of $250 million sent to Tallahassee as part of $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that Congress and the White House agreed on at the end of March.
The governor’s office offered some of the details on the new program which starts on March 2.
The Florida Housing Finance Corporation (Florida Housing) announced this week that it has approved 118 loans totaling more than $1.7 million to help residents of the Panhandle buy new houses in the aftermath of Hurricane Michael.
At an event in Marathon, DeSantis announced that the Florida Department of Economic Opportunity’s (DEO) Rebuild Florida program will send $140 million to be administered by the Florida Housing Finance Corporation (Florida Housing) to create “new affordable workforce housing to help address housing shortages worsened by Hurricane Irma.”
“The Homeownership Loan Program (HLP) will offer a favorable 30-year fixed rate first mortgage coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualifying homebuyers up to 140 percent AMI,” the governor’s office noted.
“Providing enough housing has been one of the biggest challenges Northwest Florida has faced following Hurricane Michael’s landfall in October,” said DeSantis.
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.
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