State & Local Projects

Total Florida State Budget Amount
TBD
FY 2008-2009
TBD
FY 2009-2010
TBD
FY 2010-2011
TBD
Amounts to Local Government Passed Through State Agencies
TBD
Amounts Sent Directly to Local Government
$101.13M
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Low Income Housing Tax Credit Assistance

Section: Division A, Title XII | Agency: Florida Housing Finance Corporation

Competitively awarded gap financing for the Low Income Housing Tax Credit program.

Description of Program:  Gap financing for the Low Income Housing Tax Credit program.  Florida Housing is required to award funds competitively to developments that have already been awarded low income housing tax credits in 2007-09 that, because they could not obtain equity in exchange for those credits, require additional funds to “complete an overall financing package.”  HUD has not provided regulatory direction yet, but most agree that this funding will not be available to projects that have never received an award of credits.