Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
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MOTION TO APPROVE use of Housing Finance Authority ("HFA") funds as the 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 2025/2026 FHFC Requests for Applications ("RFAs") cycle; and to authorize 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 reserves funds, in an amount 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 Broward County Board of County Commissioners.
What Action Accomplishes
Allows the HFA to use up to $2,000,000 from its reserve account to provide LGC commitments (estimated at $100,000 per project) and one LGAO commitment (minimum of $640,000 for the project) for applications submitted under the 2025/2026 FHFC RFAs cycle, subject to replacement of HFA funding with CDBG, HOME federal funds, or other County affordable housing resources if one or more projects are selected by FHFC.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
None taken.
Summary Explanation/Background
THE RESILIENT ENVIRONMENT DEPARTMENT AND THE HOUSING FINANCE DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board's Value 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 resi...
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