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Florida Housing Partnership with Governor DeSantis Produces Housing Wins

Published on December 19, 2019 by Florida Housing Finance Corporation
Florida Housing Partnership with Governor DeSantis Produces Housing Wins

TALLAHASSEE, FL — The Florida Housing Finance Corporation (Florida Housing) is proud to announce numerous housing accomplishments in the first year of Governor Ron DeSantis taking office. “Florida Housing greatly appreciates the support and leadership that Governor Ron DeSantis has provided – from full funding statewide in both of his proposed budgets for housing, to hurricane recovery housing for affected families,” said Florida Housing Executive Director Trey Price. “As the state’s housing finance agency, Florida Housing works every day to help Florida families attain housing options that are affordable to them. With the resources that are entrusted to us, Florida Housing can continue to provide assistance for Florida’s growing and diverse needs.”

2019 accomplishments:

Homeownership

  • Assisted 4,603 Florida homebuyers purchased their first home
  • Provided more than $719 Million in first mortgage loans
  • Provided more than $45.2 Million in down payment and closing cost assistance

Rental Housing

  • Awarded 37 developments with funding to build rental housing across the state
  • A total of 2,284 units in developments awarded funding

State Housing Initiatives Partnership (SHIP) Program

  • $46.56 Million appropriated this past legislative session is being disbursed by Florida Housing to local governments statewide to be used towards rehabilitation, emergency repairs, down payment assistance, homeownership counseling, new construction (when permitted), down payment and closing cost assistance, impact fees and mortgage buy-downs

Hurricane  Irma Housing Recovery

  • Awarded $31.8 Million in Community Development Block Grant-Disaster Recovery (CDBG-DR) funding in Monroe County for rental housing that will serve 157 households
  • Awarded another $18.9 Million in CDBG-DR funding to develop small rental properties in hurricane recovery areas.  Developments were selected in Clay, Bradford, Highlands and DeSoto Counties totaling 188 units
  • Allocated another $75.3 Million in CDBG-DR that will be used with other Florida Housing resources to fund affordable rental housing in areas impacted by Hurricane Irma and the influx of migration of households displaced by Hurricane Maria

Hurricane Michael Housing Recovery

  • Fully disbursed $5 Million in SHIP-Disaster Recovery funding to Hurricane Michael impacted local governments in January 2019
  • $65 Million for Hurricane Housing Recovery Program (HHRP) appropriated this past legislative session is being disbursed to local governments in the Hurricane Michael impacted areas—half of the funding has been disbursed
  • $50 Million for Rental Recovery Loan Program (RRLP) appropriated this past legislative session in funding developments in Hurricane Michael impacted areas . Florida Housing’s Board approved this funding in December for seven developments
  • Hurricane Michael Recovery Loan Program assisted more than 335 families impacted by Hurricane Michael purchase a home and provided $15,000 in down payment and closing cost assistance in under four months: originating ten times the number of loans in those same counties as we had in all of 2018
  • Provided more than $47 Million in HOME awards for ten (10) rental developments in Hurricane Michael impacted counties

Supportive Housing

  • Florida Housing demonstrated the use of HOME funding for short-term rental assistance to help homeless families with school age children in rural and small communities to successfully regain housing stability and greater self-sufficiency, as well as keep the children on track with their education.  The first Pilot site was in Santa Rosa County where Florida Housing partnered with the Santa Rosa County School District, Milton Housing Authority and other local partners to ensure that there is wrap around support services for these families to locate and access rental housing, as well as help them address issues that caused their homelessness.  Due to the successes of the Santa Rosa County Pilot, Florida Housing added Hernando County as the second Pilot site in November.
  • Florida Housing began compiling cost/benefits findings from its Pilot that is studying the impacts of Permanent Supportive Housing  for serving communities most vulnerable chronically homeless individuals.
  • The Pilot sites are permanent supportive housing developments are in Jacksonville, Miami and St. Petersburg.  The findings from the pre/post housed cost/benefits study at the Jacksonville Pilot site found that the cost savings to public resources after two years included:
    • 86% of the study participants remain stably housed after two years
    • 58% decrease in overall hospital costs; including ER, inpatient and outpatient services
    • Average income increases of 66%.
    • 66% decrease in inpatient mental health crisis services
    • 70% decrease in costs associated with arrests and jail stays
  • In Miami-Dade, the preliminary first year cost/benefits study findings include:
    • 65 percent decrease in Medicaid costs
    • 50 percent decrease in the criminal justice system costs
    • 100 percent decrease in  homeless services system costs

Florida Housing was created by the Legislature more than 35 years ago. We are the state’s housing finance agency (HFA) that administers state and federal resources to help provide affordable homeownership and rental housing options for the citizens of Florida. For more information, please visit www.floridahousing.org.