FLORIDA HOUSING FINANCE CORPORATION
Request for Applications 2018-109 Development Viability Loan Funding
This Request for Applications is open to Applicants that have an Active Award of (a) 9 percent Housing Credits, or (b) State Apartment Incentive Loan (SAIL) funding used in conjunction with (i) Tax-Exempt Bond financing (i.e., Corporation-issued Multifamily Mortgage Revenue Bonds (MMRB) or Non-Corporation-issued Tax-Exempt Bonds obtained through a Public Housing Authority (established under Chapter 421, F.S.), a County Housing Finance Authority (established pursuant to Section 159.604, F.S.), or a Local Government and (ii) Non-Competitive Housing Credits, awarded through one of the following Requests for Applications: 2014-111, 2014-114, 2015-106, 2015-107, 2015-108, 2015-111, 2016-103, 2016-109, 2016-110, 2016-112, 2016-113, 2016-114, 2016-116, 2017-102, 2017-103, or 2017-107. To be eligible for funding, as of the Application Deadline the Development must not have closed on their Limited Partnership Agreement, Tax-Exempt Bond financing, or any other Corporation funding (excluding Pre-Development Loan Program funding (PLP) and Elderly Housing Community Loan (EHCL) funding), must not have recorded a Notice of Commencement with the appropriate local jurisdiction, must not have a final credit underwriting report, and must not have returned the allocation for the Active Award to the Corporation.
Developments awarded under RFA 2017-109 Development Viability Loan Funding are not eligible for funding in this RFA. This RFA is being offered to assist Applicants experiencing a reduction in equity funding for their Active Award, recognizing a funding need based on changes in market pricing, which have been exacerbated by increased construction costs due to hurricane impact and construction market changes.
Applications shall be accepted until 11:00 a.m., Eastern Time, on April 16, 2018, to the attention of Marisa Button, Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. For questions or additional information, please contact Marisa Button at Marisa.Button@floridahousing.org or as otherwise directed in the RFA. This Request for Applications, which outlines selection criteria and Applicant’s responsibilities, can be downloaded from the Florida Housing Finance Corporation web site at http://www.floridahousing.org/programs/developers-multifamily-programs/competitive/2018/2018-109.
Any modifications that occur to the Request for Applications will be posted on the web site and may result in an extension of the deadline. It is the responsibility of the Applicant to check the website for any modifications prior to the deadline date.
