Budget includes increased funding to assist more homebuyers.
TALLAHASSEE, FL - When Gov. Charlie Crist presents his 2008-09 state budget recommendations today, there will be more than $300 million earmarked for affordable housing programs in the State of Florida, including a $75-million-dollar increase to help stimulate economic recovery in the state.
“As the state’s Housing Finance Agency, we commend Gov. Crist for continuing to show his commitment to providing affordable homeownership opportunities for Florida citizens,” said Steve Auger, Florida Housing Finance Corporation executive director. “With the additional funding, Florida Housing will be able to help more people obtain safe, decent housing that might otherwise be unavailable to them.”
The Governor’s budget recommendations designate a total of $318 million for Florida Housing, which includes an increase of $75 million that will be leveraged with federal funds to assist more families in purchasing a home. Specifically, these additional funds will go to the Homeownership Assistance Program (HAP) to provide down payment and closing cost assistance for homebuyers at or below 120 percent of the area median income (AMI), or up to 140 percent AMI for those purchasing homes in southern areas of the state impacted by Hurricane Wilma.
In addition, Florida Housing would receive $70.5 million from the State Housing Trust Fund for our current programs, including the State Apartment Incentives Loan (SAIL), Homeownership Assistance (HAP), and others; $166.6 million from the Local Government Housing Trust Fund for the State Housing Initiatives Partnership (SHIP) program and related compliance monitoring; and $5.9 million for homeless programs (to be transferred to the Department of Children and Families).
Florida Housing was created by the Florida Legislature more than 20 years ago to help our fellow Floridians obtain safe, decent housing that might otherwise be unavailable to them. Florida Housing's Board of Directors and staff continue to work to increase affordable housing opportunities for Floridians, ensure that Florida Housing's programs are well matched to the housing needs of Floridians, and communicate the importance of affordable housing to Florida's communities.
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