The Florida Housing Finance Corporation posted a draft development cost pro-forma for RFA 2020-204 Housing Credit Financing for the Preservation of Existing Affordable Multifamily Housing Developments. Florida Housing also revised the draft development cost proforma’s for RFA 2020-201 Housing Credit Financing for Affordable Housing Developments Located in Medium and Small Counties, RFA 2020-202 Housing Credit Financing for Affordable Housing Developments Located in Broward, Duval, Hillsborough, Orange, Palm Beach, and Pinellas Counties and RFA 2020-203 Housing Credit Financing for Affordable Housing Developments Located in Miami-Dade County.
Update on RFA 2020-203
One of the qualifications regarding Urban Centers has been modified. The requirement in the second bullet initially read, “The entire proposed Development, including all Scattered Sites, if applicable, is located within the Urban Center as it existed as of December 31, 2019 or earlier.” The date has been removed. The language now says:
The Corporation has a goal to fund one application proposing a development that is located in an Urban Center, with a preference that it be an Urban Center located in a Tier I. To qualify for the goal, all of the following qualifications must be met:
- Question 5.h. of Exhibit A must reflect “Yes”, and the named Urban Center must reflect one of the named Tier 1 or Tier 2 Urban Centers listed below;
- The entire proposed development, including all scattered sites, if applicable, is located within the Urban Center zoning designation; and
- The application must achieve a minimum of five Proximity Points for Transit Services.
The Tier 1 Urban Centers are: Ojus, Downtown Kendall, Cutler Ridge, Goulds, Perrine, Leisure City, Princeton, and, if proposing an Elderly Development, Naranja.
The Tier 2 Urban Centers are: Model City, North Central, and, if proposing a Family Development, Naranja.
Update on RFA 2020-202
There was an inconsistency between the agenda for the July 28, 2020 nine percent Housing Credit Geographic RFAs Workshop and the July 21, 2020 draft of RFA 2020-202 RFA 2020-202 Housing Credit Financing for Affordable Housing Developments Located in Broward, Duval, Hillsborough, Orange, Palm Beach and Pinellas Counties. The draft of the RFA stated that the second Application in Broward County would be a Non-Profit Application if the first Broward Application was not a Non-Profit Application. This has been corrected. The funding selection process is as follows:
- The Funding Selection Process
- Local Government Area of Opportunity Goal
(1) The first Application selected for funding will be the highest ranking eligible Application that meets the Local Government Areas of Opportunity Funding Goal in Broward County.
(2) The next Application selected for funding will be the highest ranking eligible Application that meets the Local Government Areas of Opportunity Funding Goal in Duval County.
(3) The next Application selected for funding will be the highest ranking eligible Application that meets the Local Government Areas of Opportunity Funding Goal in Palm Beach County.
(4) The next Application selected for funding will be the highest ranking eligible Application that meets the Local Government Areas of Opportunity Funding Goal in Pinellas County.
- Geographic Area of Opportunity/SADDA Goal
(1) The next Application selected for funding will be the highest ranking eligible Family Application located in Hillsborough County that meets the Geographic Areas of Opportunity / SADDA funding goal.
(2) The next Application selected for funding will be the highest ranking eligible Family Application located in Orange County that meets the Geographic Areas of Opportunity / SADDA funding goal.
- Selection Process for any county that was not awarded in process above
If Broward, Duval, Hillsborough, Orange, Palm Beach or Pinellas Counties did not each have one Application selected in the process described in a. or b. above, the next Application(s) selected would be the highest ranking eligible unfunded Application in those counties so that each of the counties has one Application selected.
- One Additional Application in Broward County
The next Application selected will be the highest-ranking eligible unfunded Application for a proposed Development located in Broward County.
- One Additional Application
The last Application selected will be the highest-ranking eligible unfunded Application, regardless of county. If the selected Application cannot be fully funded, it will be entitled to receive a Binding Commitment for the unfunded balance.
No additional Applications from any county will be selected for funding and any remaining funding will be distributed as approved by the Board.
