Florida Housing’s Board Approves Three Rental Properties for Funding in the Keys

TALLAHASSEE, FL - The Board of Directors for the Florida Housing Finance Corporation (Florida Housing) unanimously approved three applications this morning to fund the development of affordable housing in Monroe County.

The Board first approved issuing this request for application (RFA) at the January board meeting. RFA 2018-107 offered $2.6 million in Low Income Housing Tax Credits (LIHTC) and $10.4 million in State Apartment Incentive (SAIL) program dollars to specifically fund affordable family housing developments in the Florida Keys. Florida Housing received three applications to build affordable rental housing in the county hardest hit by Hurricane Irma. While the initially approved allocation amounts were sufficient to fund two developments, today, Florida Housing’s Board committed additional amounts to ensure the funding of a third development.

During the recently concluded 2018 legislative session, an additional $15 million in SAIL funding was also allocated for housing in Monroe County that Florida Housing will administer.

“Florida Housing’s Board took decisive action today to further assist those impacted by the hurricane that struck in Monroe County,” said Trey Price, executive director for Florida Housing. “We are grateful to the Governor and Legislature for providing additional affordable housing dollars that are targeted in this area to continue our commitment of providing safe, decent, affordable housing to the citizens of Florida.”

Florida Housing’s Executive Director and senior staff traveled to Monroe County following the hurricane last year, toured the impacted areas of the Keys, and met with state and local officials to assess damage and housing conditions.

For more information about Florida Housing, visit www.floridahousing.org.


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