Achieving Greatness Through Leadership and Perseverance
Highlighting the Power of Community Partnerships
The conference emphasized how local HFAs, often underfunded and understaffed, can overcome these challenges by working closely with community partners. This collaboration was celebrated through various sessions and the HFA Journal, which marked its 10th anniversary by highlighting affordable housing programs and effective lobbying efforts by Florida’s local HFAs and their partners.
Key Sessions and Takeaways
The Florida Legislature – Progress and Future Leadership
Special Guest: Senator Ken Pruitt
Senator Pruitt highlighted the successful outcomes of the new bond allocation legislation and discussed the forward progress of local HFAs. He assured attendees that HFAs would have the necessary tools and resources to secure Down Payment Assistance (DPA) funds and place people in homes.
Partnerships with FHFC and the Division of Bond Finance
Over the past decade, multifamily housing has often outpaced single-family housing in the issuance of Private Activity Bonds (PAB). However, new trends and statutory changes are beginning to close this gap. The session covered the following points:
- Increased issuances and demand for end-of-year allocation and carryforward via lottery.
- Changes in the statutory distribution of volume cap effective January 1, 2025.
- The introduction of new allocation pools for affordable housing PABs, ensuring more efficient use of available resources.
FHFC Update
The Florida Housing Finance Corporation (FHFC) has expanded its board of directors from nine to eleven members, incorporating appointees from the Senate and the House. The session also covered the use of tax-exempt bond allocation to realize noncompetitive low-income housing tax credits and maximize unit production throughout the state, utilizing programs such as SAIL, HOME, CDBG-DR, and RRLP.
Unlocking Affordable Strategies & Collaborations
MCC and SHIP Funds
The session highlighted the importance of Mortgage Credit Certificates (MCCs) and SHIP funds. The Hillsborough HFA shared their strategy of mandating MCCs with their first mortgage program, while local HFAs were encouraged to leverage SHIP funds to launch and expand programs.
Escambia MCC Program
Escambia County HFA’s innovative MCC program converted $100 million of carryforward allocation into a sustainable program, utilizing $35 million of carryforward to allow a MCC bond allocation of $8.75 million, lasting through December 2025.
HFA Journal Release and Unique Programs
The HFA Journal, celebrating its 10th year, showcased how local HFAs, with limited resources, have made significant impacts on their communities. One highlighted project was Escambia County HFA’s “Urban Infill 2015,” which involved local vendors and university students to build efficient, sustainable homes, benefiting both the community and students.
Questions from the Box
The conference concluded with a session addressing questions submitted by attendees. Topics included the difference between FHFC and the Florida Housing Coalition, the potential for local HFAs to provide gap funding, board member voting criteria, and the best resources for HFA staff.
Acknowledgment of eHousingPlus
For the first time, the conference provided formal recognition for the services provided by eHousingPlus. Industry leaders, HFA Directors, and staff praised eHousingPlus for its exceptional support, labeling the company as a leader in the industry and a pleasure to work with.
Speakers included:
- Cheryl Howell, Assistant County Administrator, Hillsborough County.
- Mark Hendrickson, Executive Director FL ALHFA.
- Lisa Bernau, Executive Director, Escambia County HFA.
- Fran Jones, Director of Housing, Escambia County HFA.
- Karmen Lemberg, Director of Homeownership Programs and Operations, HFA of Pinellas County.
- David Westcott, Managing Director of Homeowner Programs, FHFC.
Conclusion
The FL ALHFA Conference 2024 was a testament to what small HFAs can achieve through leadership, perseverance, and strategic partnerships. The sessions provided valuable insights and practical strategies, inspiring attendees to continue their efforts in making affordable housing a reality for more communities.