Miami, FL

Resource	Funding Type	Administering Entity	Eligible use(s)	Affordability Requirements	Geography	Other Specifications	Maximum Financial Assistance	Application Timing	Other Specifications	Links for more information	Type
	What type of financial assistance does this resource provide?	Who administers this resource?	What kinds of projects can this finance? Does it target specific property types?	What level of affordability must be provided by the project? What income brackets does the funding source seek to target?	In which areas is the funding source available? Can it be applied statewide, across the city, or in specially designated areas within the city?	Is there information that sets apart this financial resource? Is there information that clarifies the process or mechanism?	What is the maximum amount of financial assistance able to be provided per project?	Is the application available continuously, annually, or at specific times throughout the year?	Is there information that sets apart this financial resource? Is there information that clarifies the process or mechanism?	Where can I find this and possibly more information on the financial resource?
Options	Soft Debt., TBD										City and County, Florida Housing Finance Corporation, Community Development Financial Institutions, Federal, Misc
HOME Investments Partnership Program (HOME)	Soft debt.	Miami-Dade Department of Public Housing and Community Development	Acquisition, new construction, reconstruction, and rehabilitation. Conversion of non-residential uses to residential uses,	Funds are to assist households at 60% AMI or below.	No geographic restrictions.	City of Miami HOME programs and Miami-Dade County HOME programs may differ.		Local government control based on annual legislative appropriation.		https://www.miamidade.gov/global/housing/home-program.page https://www.floridahousing.org/programs/developers-multifamily-programs/... https://www.miamidade.gov/global/housing/requests.page	City and County
Documentary Stamp Surtax Program	Soft debt.	Miami-Dade County Department of Public Housing and Community Development	New construction, redevelopment or rehabilitation, per published RFAs.	Serves populations from 50% AMI or below, up to 140% AMI. Flexible based on type of project.	Miami-Dade County.	See annual RFA for priorities. 2019 included SMF funding.		County issues RFAs, typically annually.		https://www.miamidade.gov/global/housing/surtax.page#0 https://www.miamidade.gov/housing/library/brochures/surtax.pdf https://www.miamidade.gov/global/housing/requests.page	City and County
Miami-Dade County Affordable Housing Trust Fund	TBD	Affordable Housing Trust Fund Board (AHTFB)	TBD	TBD	Miami-Dade County.	To be determined.				https://www.miamidade.gov/global/housing/affordable-housing-trust-fund-b... https://www.miamidade.gov/global/housing/requests.page	City and County
State Housing Initiatives Partnership (SHIP)	Soft debt.	Florida Housing Finance Corporation Miami-Dade Department of Public Housing and Community Development City of Miami Department of Housing and Community Development	Repairs, rehabilitation, acquisition, gap financing.	"Use of funds must serve households of 50%-120% AMI. At least 30% of a local government's total annual distribution of SHIP funds must be reserved for awards to very low-income persons (50% AMI or less), 30% to low-income persons (80% AMI or less), and the remainder may serve any combination of income levels up to 120% AMI."	No geographic restrictions.	See annual RFA for priorities. 2019 included SMF funding.		Local government control based on annual legislative appropriation.		https://www.miamidade.gov/global/housing/requests.page https://www.miamidade.gov/global/housing/ship-program.page	City and County
Community Redevelopment Agencies (CRAs)	Flexible (e.g. soft debt, grants)	Varies based on geographic location of intended project.	Flexible.	Housing projects should serve low- to moderate-income households.	Individual CRAs target different areas.	Authority has been delegated to municipalities to operate CRAs. There are 14 CRAs in Miami-Dade County: City of Miami/Omni, Naranja Lakes, North Miami, Miami Beach, North Miami Beach, NW 7th Avenue Corridor, 79th Street Corridor, Homestead, Florida City, Mid-town, Opa-locka, South Miami A, Southeast Overtown/Park, and West Perrine.				https://www.miamidade.gov/global/service.page?Mduid_service=ser153012726... http://www.miamidade.gov/cob/county-commission-appointed-cras.asp	City and County
Community Development Block Grant (CDBG)	Soft debt or grant.	Miami-Dade Department of Public Housing and Community Development City of Miami	Acquisition, new construction (limited circumstances), and rehabilitation. (dependent on administering entity).	Funds are to assist low- and moderate- income households, income limit categories as determined annually by HUD. HUD definitions of income limits do not necessarily match definitions in Florida statutes.	Depends on administrating entity.	Depends on administrating entity.		Depends on administrating entity.		Miami Dade County - https://www.miamidade.gov/global/housing/block-grant.page City of Miami - http://archive.miamigov.com/communitydevelopment/rfq.html	City and County
Predevelopment Loan Program (PLP)	Soft debt.	Florida Housing Finance Corporation	Acquisition and predevelopment costs.	For rental developments, borrower must commit to setting aside 20% of units for households at or below 50% AMI for a 15-year affordability period. For homeownership developments, 50% of homes must be sold to households at or below 80% AMI, and the other 50% to households at or below 120% AMI.	No geographic restrictions.		Loan up to $750,000.		PLP loan has a 1% interest rate and is non-amortizing.	https://www.floridahousing.org/docs/default-source/programs/competitive/... https://www.floridahousing.org/programs/developers-multifamily-programs	Florida Housing Finance Corporation (FHFC)
State Apartment Incentive Loan (SAIL)	Soft debt.	Florida Housing Finance Corporation	Acquisition, new construction, and rehabilitation.	Multifamily developments must provide rental units to households at or below 50% AMI. At a minimum, 20% of units must be set aside for households at 50% AMI or below. If a development also receives Housing Credits, 40% of units must be affordable to households at or below 60% AMI.	No geographic restrictions.		In general, SAIL loans cover 25 to 35 percent of development costs.			https://www.floridahousing.org/docs/default-source/programs/competitive/... https://www.floridahousing.org/programs/developers-multifamily-programs/...	Florida Housing Finance Corporation (FHFC)
Multifamily Mortgage Revenue Bond Program	Debt.	Florida Housing Finance Corporation	Acquisition, new construction, and rehabilitation.	At least 20% of units available to households at or below 50% AMI. Or, 40% of units available to households at or below 60% AMI.	No geographic restrictions. 59% of total allocation reserved for large counties.					https://www.floridahousing.org/docs/default-source/programs/competitive/... https://www.floridahousing.org/programs/developers-multifamily-programs/...	Florida Housing Finance Corporation (FHFC)
Financing to Build or Rehab Smaller Permanent Supportive Housing for Persons with Developmental Disabilities		Florida Housing Finance Corporation	New construction, rehabilitation, or renovation of supportive housing for persons with developmental disabilities.	Developments must serve persons with developmental disabilities.	No geographic restrictions.		Developments must come in the form of Community Residential Homes (CRHs) or Supported Living Units (SLUs). CRHs must be single-family homes. SLUs must consist of no more than six units.	Early March 2020		Florida Housing Coalition Affordable Housing Resource Guide 2018	Florida Housing Finance Corporation (FHFC)
Low-Income Housing Tax Credits (4%)	Equity.	Florida Housing Finance Corporation	New construction and rehabilitation.	15 year initial affordability +15 year extended use period. Qualified Contract opt out option. 20-50 Minimum Tax Credit Set-Aside: At least 20% of units affordable at 50% AMI or less. 40-60 Minimum Tax-Credit Set-Aside: At least 40% of units affordable at 60% AMI or less.	No geographic restrictions.				Each RFA may be targeted to a specific development type and/or beneficiary group.	https://www.floridahousing.org/docs/default-source/programs/competitive/... https://www.floridahousing.org/programs/developers-multifamily-programs	Florida Housing Finance Corporation (FHFC)
Low-Income Housing Tax Credits (9%)	Equity.	Florida Housing Finance Corporation	New construction and rehabilitation.	15 year initial affordability +15 year extended use period. Qualified Contract opt out option. 20-50 Minimum Tax Credit Set-Aside: At least 20% of units affordable at 50% AMI or less. 40-60 Minimum Tax-Credit Set-Aside: At least 40% of units affordable at 60% AMI or less.	No geographic restrictions.				Each RFA may be targeted to a specific development type and/or beneficiary group.	https://www.floridahousing.org/docs/default-source/programs/competitive/... https://www.floridahousing.org/programs/developers-multifamily-programs	Florida Housing Finance Corporation (FHFC)
National Housing Trust Fund (NHTF)	Soft debt.	Florida Housing Finance Corporation		NHTF funds are intended to serve populations of 30% AMI or below to 50% AMI.	No geographic restrictions.				Specifications vary with yearly QAPs. In general, the NHTF requirements are very similar to the HOME program with the notable exception that the Davis-Bacon federal labor standards do not apply to NHTF-financed developments.	https://www.floridahousing.org/docs/default-source/programs/competitive/...	Florida Housing Finance Corporation (FHFC)
Community Development Block Grant - Disaster Relief (CDBG-DR)	Grant	Florida Department of Economic Opportunity FL Housing Finance Corporation	Repair, reconstruction, acquisition, infrastructure, economic revitalization.	Unless waived, at least 70% of CDBG-DR funds must benefit low and moderate-income persons.	Depends on administrating entity.		Depends on administrating entity.		CDBG-DR funds can be used for a wide range of recovery related activities. Congress makes appropriations of CDBG-DR funding following a disaster.	FHFC - https://www.floridahousing.org/programs/developers-multifamily-programs/... FL Department of Economic Opportunity - http://www.floridajobs.org/community-planning-and-development/assistance...	Florida Housing Finance Corporation (FHFC)
Florida Community Loan Fund (FCLF)	Debt	Florida Community Loan Fund, Inc.	Multifamily.	Acquisition, predevelopment, new construction, rehabilitation, and lines of credit.	Statewide		Maximum loan size is $5 million. Larger loan sizes may be considered for real-estate secured projects.	Ongoing.		Florida Housing Coalition Affordable Housing Resource Guide 2018 FCLF Fact Sheet https://fclf.org/borrowing	Community Development Financial Institutions (CDFI)
FHA 221(d)(4) (or FHA 231 for senior housing)	Debt	Federal Housing Administration U.S. Department of Housing and Urban Development	Construction or permanent debt financing for substantial rehabilitations of multifamily rental or cooperative properties for moderate income families.	No income limits. Housing development should target moderate income families.	No geographic restrictions.	Housing development must include 5 or more units.	Based upon HUD underwriting requirements. No maximum loan limit identified.	Available now.	https://www.hud.gov/program_offices/housing/mfh/progdesc/rentcoophsg221d3n4 https://www.hud.loans/fha-221d4 https://hud221d4.loan/	Prospective applicants should contact the local HUD Multifamily or Program Center of their appropriate jurisdiction: https://www.hud.gov/program_offices/housing/mfh/progdesc/rentcoophsg221d3n4	Federal
Fannie Mae Affordable Housing Preservation Loan	Debt	Fannie Mae	Preservation of expiring Low-Income Housing Tax Credit (LIHTC) deals, refinancing of existing tax-exempt bond deals, properties eligible for the Rental Assistance Demonstration (RAD) program, properties with HUD Section 8 HAP contracts, properties with existing Rural Housing Service (RHS) Section 515 loans, and loans insured under Section 202 or 236 of the National Housing Act.	At least 20% units rented to families earning 50% AMI or below At least 40% units rented to families earning 60% AMI or below Project-Based Housing Assistance Payments contract (Section 8) covering 20% or more units.	No geographic restrictions.		Varies.	Available now.	https://multifamily.fanniemae.com/financing-options/conventional-product...	Affordable lenders	Federal
Federal Home Loan Bank Affordable Housing Program (AHP)	Debt/Equity.	Federal Home Loan Bank of Atlanta	Acquisition, rehabilitation and construction of affordable rental and ownership housing.	Subsidized units must serve households earning 80% AMI or below. Rental projects are required to ensure that 20% of total units are for households at or below 50% AMI. Secured with a note and security instrument to ensure compliance through the affordability period: • 15 years for rental • 5 years for ownership	No geographic restrictions.	The application process is a competitive, scoring-based program. Applications are submitted through an online portal with FHLBank Atlanta member financial institutions.	Up to $500,000 per project.	Application schedule varies by year. Application period is about a month-long from opening to deadline, but will be 8 weeks in 2020.		http://corp.fhlbatl.com/files/documents/AHP-Competitive-Brochure.pdf http://corp.fhlbatl.com/files/documents/ahp-implementation-plan.pdf http://corp.fhlbatl.com/	Misc
Community Contribution Tax Credit (CCTC)	Grants generated via tax incentives.	Florida Department of Economic Opportunity	Acquisition, new construction, and rehabilitation.	Funds must be used to serve persons at 80% AMI or below.	Affordable housing projects are not required to be located in an Enterprise Zone or Front Porch Community to be eligible for the credit, but other CCTC project types must be located in these areas.	Developers solicit and receive donations from qualified corporations. Credit granted is limited to $21,900,000 for the state and $200,000 per firm. Before making a CCTCP donation, a business should contact the Department of Economic Opportunity to confirm that the project is eligible for a tax credit.		Applications due July 1-15 annually and taken on first-come, first-serve basis thereafter.		Florida Housing Coalition Affordable Housing Resource Guide 2018: https://www.flhousing.org/wp-content/uploads/2017/05/Affordable-Housing-... http://www.floridajobs.org/business-growth-and-partnerships/for-business...	Misc
Weatherization Assistance Program (WAP)	Grant.	Florida Department of Economic Opportunity	Weatherization upgrades.	To qualify for the Weatherization Program, the total household income may not be more than 200% of the national poverty level.	No geographic restrictions.			Available now.		Florida Housing Coalition Affordable Housing Resource Guide 2018: https://www.flhousing.org/wp-content/uploads/2017/05/Affordable-Housing-... http://floridajobs.org/community-planning-and-development/community-serv...	Misc