Subject:
Title
Housing Finance Authority of Pinellas County: 2024 Annual Report.
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Recommended Action:
Recommended Action
Recommend the Board of County Commissioners receive and file the 2024 Annual Report on the Housing Finance Authority of Pinellas County (HFA).
• During 2024, the HFA’s First-Time Homebuyer Program served 123 households, all households utilized the HFAs down payment assistance program and were at or below 100% of the Area Median Income.
• The HFA closed on three multifamily housing bond issues producing 225 new and acquisition/rehab units of affordable housing.
• The HFA induced (conditional commitment) five multifamily housing bond issues that will produce 1,000 new and acquisition/rehab units of affordable housing. The bond issues are expected to close in 2025.
• The HFA added two multifamily land trusts to its portfolio. (Skyway Lofts II and The Point). The land acquisitions were funded by the Penny for Pinellas land acquisition fund. The HFA serves as Trustee and the County is the Beneficial Owner.
• Acceptance of this report has no fiscal impact on Pinellas County.
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Strategic Plan:
Prosperity and Opportunity
- Increase the availability of attainable housing
Summary:
Summary
The HFA’s First-Time Homebuyer Program served 123 households, all households utilized the HFA’s down payment assistance program and were at or below 100% of the Area Median Income (AMI) and issued $20.0M Single Family Housing Revenue Bonds, Series 2024A.
The HFA closed on three (3) multifamily housing bond issues producing 225 new and acquisition/rehab units of affordable housing and induced (conditional commitment) five (5) multifamily housing bond issues that will produce 1,000 new and acquisition/rehab units of affordable housing. The bond issues are expected to close in 2025.
The Jordan Park redevelopment and new construction project funded by HFA multifamily housing bonds received the National Redevelopment Award of Excellence at the National Association of Local Housing Finance Agencies Conference in May 2024.
The HFA also added two (2) multifamily land trusts to its portfolio. (Skyway Lofts II and The Point). The land acquisitions were funded by the Penny for Pinellas land acquisition fund. The HFA serves as Trustee and the County is the Beneficial Owner.
The HFA continues to support the Sadowski Education Effort which results in full appropriation of Sadowski Housing Trust Funds which included $7,395,106.00 in SHIP funding for the County and the jurisdictions.
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Background Information:
The HFA was established in 1982 under Part IV of Chapter 159, Florida Statutes and Pinellas County Code Section 2-386. The HFA’s mission is to assure that financing for affordable housing remains available to the residents of Pinellas County. The attached report covers 2024.
Fiscal Impact:
N/A
Staff Member Responsible:
Kathryn Driver, Executive Director, Housing Finance Authority of Pinellas County
Partners:
Housing Finance Authority of Pinellas County
Attachments:
Housing Finance Authority of Pinellas County: 2024 Annual Report