Florida Housing Finance Corporation will hold a Workshop regarding a SAIL Program Pilot to Allow First Mortgage Refinancing for Recapitalization on October 24, 2018, beginning at 2:00 p.m., Eastern Time.
Florida Housing Finance Corporation’s Portfolio Preservation Action Plan includes a strategy that would permit the refinancing of non-acquisition first mortgages without a SAIL paydown with moderate rehabilitation (i.e., $5,000 – $10,000/unit) of stabilized affordable multifamily developments, that are at least 20 years old. The Action Plan can be found at: http://www.floridahousing.org/docs/default-source/data-docs-and-reports/boardpackages/2018/september-14/information-supplement—full-package-fhfc-portfolio-preservation-action-plan-sept-2018-amended.pdf?sfvrsn=3756057b_2 The workshop is intended to discuss the pilot program approach with an opportunity for the public to provide comments and suggestions.
The workshop will be available by telephone or interested parties may attend in person at Florida Housing’s offices located at 227 N. Bronough Street, Seltzer Room, Suite 6000, Tallahassee, Florida. The following information has been posted to the webpage https://www.floridahousing.org/programs/developers-multifamily-programs/competitive/sail-program-pilot-to-allow-first-mortgage-refinancing-for-recapitalization
- Workshop Notice
- Workshop Agenda
- Call-In Instructions
- SAIL Program Changes to Allow First Mortgage Refinancing for Recapitalization – presented to Florida Housing Finance Corporation Board of Directors at 9-14-18 Board Meeting
- Public Comments
