Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Public Works and Environmental Services
Division: Housing Finance Authority
Information
Requested Action
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MOTION TO DIRECT County Administrator to implement an affordable homeowner purchase assistance program funded by $5,000,000 from the Fiscal Year (FY) 2026 Affordable Housing Trust Fund (AHTF) budget and allocating $500,000 for each of the nine County Commission Districts and the Broward Municipal Service District (BMSD). (All Districts plus BMSD)
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Why Action is Necessary
At the March 3, 2026, Board meeting the Board directed the County Administrator to prepare a process for distribution of $5,000,000 from the AHTF for affordable home ownership purchase assistance and present the process at a future Board meeting.
What Action Accomplishes
Initiates a program to provide first-time homeowner purchase assistance funding from the AHTF.
Goal Related Icon(s)
☒County Commission
☐Go Green
☐MAP Broward
Previous Action Taken
At the March 3, 2026, Board meeting, the Board directed the County Administrator to prepare a process for implementing a countywide $5,000,000 home ownership program.
Summary Explanation/Background
THE PUBLIC WORKS AND ENVIRONMENTAL SERVICES DEPARTMENT AND THE HOUSING FINANCE AUTHORITY RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board of County Commissioners (“Board”) Goal of “ensuring residents have an affordable place to live by offering sustainable, compatible, innovative, accessible, affordable housing options for all income levels, including integrated, permanent supportive housing and zoning that helps residents build equity."
Pursuant to Board discussions, $5,000,000 has been allocated from the AHTF for Purchase Assistance for affordable home ownership.
To expedite the provision of Purchase Assistance funding to the public and to provide an equitable distribution of the funding amount among the Board districts and the BMSD, the following is recommended:
1. Distribution: The $5,000,000 will be equitably distributed between the nine Board districts and the BMSD for a total of ten funding areas.
a. This provides each District and the BMSD with $500,000 for Purchase Assistance.
b. The funding terms are as follows:
i. Incomes up to 120% Area Median Income (AMI) adjusted for family size
ii. A maximum of $100,000 of Purchase Assistance loan per home
iii. A 15-year affordability period
iv. The funding becomes a grant if the owners stay in the home for the entirety of the 15-year affordability period
c. This approach allows a minimum of five (5) new homeowners in each of the 10 funding areas (i.e., 9 Commission Districts plus the BMSD), for an aggregate minimum of 50 homeowners receiving assistance countywide.
2. Application Process: The current purchase assistance process will be followed:
a. Prospective new owners will identify a specific home to purchase in the applicable area.
b. The new owners are required to have a first mortgage lender identified for the purchase.
c. The new owners will have seven days to execute a contract for the home.
d. Staff will then income certify the new owners.
e. New owners are required to complete a Home Buyer counseling program prior to closing.
f. Staff will then work with the bank, title company and new owners to close the loan.
3. Outreach Process:
a. A public notification will be produced by Office of Public Communications (OPC).
b. Staff has an ongoing process to provide funding and program information to lenders, realtors, home ownership counseling agencies, cities and neighborhood associations.
c. Staff will use the current applicant intake process, which is first come/first qualified/first served.
d. An applicant list will be maintained in order of the date of application for each area until the funding is absorbed.
Based on staff experience, full use of the funding within one year of availability is expected.
Source of Additional Information
Ralph Stone, Executive Director, Housing Finance Authority (954) 357-5320
Fiscal Impact
Fiscal Impact/Cost Summary
The agenda item proposes to utilize $5,000,0000 from the AHTF for Purchase Assistance for affordable homeownership.