In response to the damage and loss of homes resulting from the four hurricanes that hit Florida in 2004, the Governor’s Executive Order 04-240 created a Hurricane Housing Work Group with a mission to submit recommendations on how best to leverage the hurricane housing recovery funds approved by the Legislature.

The Florida Legislature has appropriated $42 Million for a Rental Recovery Loan Program (RRLP). These funds will leverage available federal resources and private capital to build and rehabilitate affordable rental housing to help communities respond to their hurricane recovery needs. The funds will provide gap financing to help create rental communities that will be affordable for at least 50 years and will include a meaningful percentage of units that are set aside for those with extremely low incomes. Twenty-five percent of the program funds will be targeted to developments serving elders.

A complete copy of the Hurricane Housing Work Group’s final report is available at http://www.floridahousing.org/Home/Newsroom/PressReleases/hurricanehousingworkgroup.htm

A complete description of the Rental Recovery Loan Program is available at http://www.floridahousing.org/webdocs/disasterrelief/RRLP/RRLPPage.PDF