Subject:
Title
Resolution approving the State Housing Initiatives Partnership Local Housing Assistance Plan for State Fiscal Years 2024-2025, 2025-2026, and 2026-2027 for submission to the Florida Housing Finance Corporation.
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Recommended Action:
Recommended Action
Adopt a resolution approving the State Housing Initiatives Partnership (SHIP) Local Housing Assistance Plan (LHAP) for State Fiscal Years (FY) 2024-2025, 2025-2026, and 2026-2027 for submission to the Florida Housing Finance Corporation (FHFC) by May 2, 2024.
• The LHAP outlines locally developed strategies for addressing affordable homeowner and rental housing needs over the next three years.
• The three-year LHAP allows the County to access funding from FHFC to provide affordable housing programs that benefit very-low, low, and moderate-income.
• The first year of the LHAP coincides with the Fiscal Year (FY) 2025 Budget. The first-year amount of $4,816,567.00 is included in the Housing and Community Development Department FY25 SHIP Fund budget request.
Authorize the Chairman to sign and the Clerk of the Circuit Court to attest any necessary documents and certifications needed by the State; Authorize the Housing and Community Development Department Director to submit reports, certifications, and other necessary documents needed by the State; and authorize submission of the LHAP for review and approval by the FHFC.
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Strategic Plan:
Ensure Public Health, Safety, and Welfare
2.1 Provide planning, coordination, prevention, and protective services to ensure a safe and secure community.
2.4 Support programs that seek to prevent and remedy the causes of homelessness and more individuals and families from homelessness to permanent housing
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
5.3 Ensure effective and efficient delivery of county services and support
5.4 Strive to exceed customer expectations
Summary:
Summary
The three (3)-year SHIP LHAP was developed according to state guidelines for targeting funds to very-low, low-, and moderate-income households, providing stimulus in the development community, and working in partnership with nonprofit and for-profit organizations to provide community housing.
The three (3)-year LHAP proposes locally developed strategies utilizing annual SHIP fund allocations over the three (3)-year period covered by the LHAP.
The LHAP also provides average and maximum costs per unit for eligible housing benefiting from awards in the County under the SHIP Program, maximum funds per strategy, and maximum purchase prices. The LHAP further establishes administrative expenses at 10.0% of the three (3)-year allocation and 5.0% of program income.
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Background Information:
The State of Florida’s SHIP Program provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing and as required by the SHIP Program Act, Subsections 420.907-420.9079, Florida Statutes; and Rule Chapter 67-37, Florida Administrative Code.
The program was designed to serve very-low, low- and moderate-income families. SHIP funds are distributed on an entitlement basis to all counties. The deadline for submission of the three (3)-year LHAP is May 2, 2024. Funds for the first year of the three (3)-year period covered by the LHAP will be available July 1, 2024, upon approval of the plan by the FHFC.
Fiscal Impact:
An allocation of $4,816,567M for 2024-2025 and $4,816,567M annually in 2025-2026 and $4,816,567M annually for 2026-2027 for a total of $14,449,701M over the three (3)-year period is estimated to be received once approved by the State.
The FY25 Budget Submission for the Housing & Community Development Department, for the SHIP Fund, includes the estimated allocation.
Staff Member Responsible:
Glenn Bailey, Interim Director, Housing & Community Development
Partners:
Florida Housing Finance Corporation
Local Housing Agencies
Attachments:
Resolution
Certification to Florida Housing Finance Corporation
State Housing Initiatives Partnership Local Housing Assistance Plan
Legal Notice