|
| Home » US » Florida » Housing Finance Corporation |
|
|
Florida Housing Finance Corporation |
Florida Housing Finance Corporation (FHFC) was set up almost 25 years ago, by the Florida Legislature. This was established in order to help the people of Florida avail decent, secure and reasonable housing options. The corporation operates on the basis of this principle thereby encouraging private capital investment that would ensure public and private section housing partnerships.
It ensures that its programs are of use and value to the people at large. It works in tandem with the local government, NGO’s, elected entities whose support is required for the implementation of its ideas and principles.
Target Section
The Florida Housing Finance Corporation is instrumental in helping Florida residents belonging to moderate income group. The target section also includes people who need some extra or special attention. These may include the disabled, homeless people and their families, elderly citizens, commercial fishing and farm workers of the state.
The corporation works simultaneously with other institutions and agencies in order figure out how to address critical cases like individuals with mental imbalance, elderly people who are frail and weak, people who have been subject to domestic violence and those are affected by HIV.
Household Assisted
Florida Housing Finance Corporation, declared in its annual report that the homeownership programs that it implemented funded 12800 units throughout Florida in 2008. The report also gives details of the number of households that has been transformed into homeownership. The rental programs under the corporation funded 10,301 units in the year 2008, and 9745 units which were categorized as reasonable ones for the minimal to the moderate households.
Funds that help FHFC
For the fiscal year of 2009-2010, the legislature gave $31.1 million to the corporation.
Current Issues Addressed
The following two issues were addressed by the corporation a few days back are:-
Foreclosure Counseling: - Responding to the housing crisis, the corporation has set up a channel of 20 HUD accredited voluntary counseling agencies. They provide foreclosure counseling services in the entire city for free to all the house owners.
First Time Home buyer program: - This was introduced in the year 2009 and supports and assists the first time home buyers. These homebuyers have to qualify for the first time home buyer tax credit.
Special Programs
The special programs initiated and developed by the FHFC are:-
* Affordable Housing Catalyst Program
* Predevelopment Loan Program
* State Housing Initiatives Partnerships
* Demonstration Loans
Multifamily Development Programs
The multifamily development Programs include:-
* Florida Affordable Housing Guarantee
* Multifamily Mortgage Revenue Bonds
* Home Investment Partnerships
* Low Income Housing Tax Credit
* Elderly Housing Community Loan
|
|
|
|
|
|
|
|
