Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Public Works and Environmental Services
Division: Housing Finance Authority
Information
Requested Action
title
MOTION TO APPROVE use of Housing Finance Authority ("HFA") funds as a Local Government Contribution ("LGC") and Local Government Area of Opportunity ("LGAO") commitment for Broward County affordable housing projects submitted to the Florida Housing Finance Corporation ("FHFC"), via the solicitation outlined within the 2026/2027 FHFC Requests for Applications ("RFA") cycle; and to authorize the future use of Community Development Block Grant (CDBG), HOME Investment Partnerships Program (HOME) federal funds, or other available Broward County affordable housing resources to replace the HFA's reserve funds, in an amount of up to $2,000,000, if one or more local projects are selected by the FHFC.
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Why Action is Necessary
Approval of the use of HFA funding is required by the Board.
What Action Accomplishes
Allows the HFA to provide up to $2,000,000 from its reserve account to provide an LGC (estimated value of $100,000 per project) and one LGAO commitment (minimum of $640,000 for the project) for applications submitted under the 2026/2027 FHFC RFA cycle, subject to replacing the HFA funding with CDBG or HOME federal funds, or other County affordable housing resources, if one or more projects are selected by the FHFC.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
None taken.
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 Goal of the Broward County Board of County Commissioners 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 su...
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