local housing assistance plan amendment state fiscal years 2012-2015 board of county commissioners...
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Local Housing Assistance Local Housing Assistance PlanPlan
AmendmentAmendmentState Fiscal YearsState Fiscal Years
2012-20152012-2015
Board of County CommissionersBoard of County Commissioners
August 5, 2014
Presentation OutlinePresentation Outline
BackgroundRevisions to Housing StrategiesAction Requested
Presentation OutlinePresentation Outline
BackgroundRevisions to Housing StrategiesAction Requested
State Housing Initiatives Partnership Program (SHIP) Primary funding source for affordable housing programs in Florida–Documentary stamp revenues–Housing Trust Fund
Orange County has been a recipient of SHIP funding since 1994
BackgroundBackground
Year Allocation
2010-2011 $02011-2012 $742,8092012-2013 $358,3662013-2014 $1,340,4352014-2015 $4,355,191
SHIP Program – Orange County Allocation
BackgroundBackground
SHIP Program – Expenditure Requirements 65% of funds – home-ownership activities
75% of funds – construction related
60% of funds – low-income households
2014-2015 allocation of $4.3M must be expended by June 2017
BackgroundBackground
Local Housing Assistance Plan (LHAP) Required for funding under the SHIP Program Identifies housing strategies for very low, low, and
moderate income households Amendments must be adopted by resolution
BackgroundBackground
Presentation OutlinePresentation Outline
BackgroundRevisions to Housing StrategiesAction Requested
LHAP AmendmentsIncrease number of units produced
Add a new strategy as an incentive for new construction
Increase maximum sales price for affordable housing
Revisions to Housing Revisions to Housing StrategiesStrategies
Current Housing Strategies Down Payment Assistance Home-owner Rehabilitation Multi-Family Acquisition/Construction Special Needs Housing
Revisions to Housing Revisions to Housing StrategiesStrategies
Revisions to Housing Revisions to Housing StrategiesStrategies
Yearly Average 2010-2014
Down Payment Assistance 68
Homeowner Rehabilitation 41
Multi-Family Construction 93
Special Needs Housing 18
Income Level Current Proposed
Very Low $10,000 $30,000
Low $7,500 $20,000
Moderate $0 $15,000
Revisions to Housing Revisions to Housing StrategiesStrategies
Down Payment Assistance Increase amount of assistance Provide assistance to moderate-income households
Income Level
Dade County
Palm BeachCounty
Hillsborough
County
Duval County
Very Low $80,000 $100,000 $40,000 $20,000
Low $70,000 $65,000 $35,000 $17,500
Moderate $60,000 $50,000 $10,000 $15,000
Revisions to Housing Revisions to Housing StrategiesStrategies
Other Levels of Assistance
Revisions to Housing Revisions to Housing StrategiesStrategies
Housing Rehabilitation Increase amount of assistance Provide assistance for reconstruction
ActivityCurren
tPropose
d
Emergency Rehab $15,000 $20,000
Substantial Rehab $50,000 $75,000
Reconstruction $0 $100,000
Revisions to Housing Revisions to Housing StrategiesStrategies
Multi-Family Construction Encourage acquisition, construction, or
rehabilitation of rental housing for low income households
Continue to provide minimum local government contribution for developers competing for State Housing Tax Credits
No revisions recommended
Revisions to Housing Revisions to Housing StrategiesStrategies
Special Needs Housing For adult persons requiring independent living
services Provide assistance to disability support organizations
to acquire, construct, or rehab group homes Partner with nonprofit agencies to provide home
modifications for people with disabilities 20% of SHIP allocation must be spent under this
strategy – $871,038 No revisions recommended
Revisions to Housing Revisions to Housing StrategiesStrategies
New Strategy: Impact Fee Subsidy Few homes being built at price levels affordable to
low-income households Developer incentive to build owner occupied
homes, affordable to low-income households Subsidy Level:
Revisions to Housing Revisions to Housing StrategiesStrategies
Maximum Sales Price Maximum sales price established in LHAP Factors that affect affordability
Sales price Income Interest rate
Revisions to Housing Revisions to Housing StrategiesStrategies
HUD 2014 Income Limits Median Income $54,800
Household Size
Very Low Low Moderate
1 $20,100 $32,100 $48,2402 $22,950 $36,700 $55,0803 $25,800 $41,300 $61,9204 $28,650 $45,850 $68,760
Revisions to Housing Revisions to Housing StrategiesStrategies
Maximum Sales Price Increase maximum sales price
From To
$170,000 $200,000
Revisions to Housing Revisions to Housing StrategiesStrategies
Affordable Housing Advisory Board Appointed by the BCC Makes recommendations on housing strategiesBoard recommends the proposed revisions
Presentation OutlinePresentation Outline
BackgroundRevisions to Housing StrategiesAction Requested
Action RequestedAction Requested
Approval of Resolution of the Orange County Board of County Commissioners regarding the State Housing Initiatives Partnership (SHIP) Program and the Orange County Local Housing Assistance Plan (LHAP) for State Fiscal Years 2012-2013, 2013-2014, 2014-2015; Certification to Florida Housing Finance Corporation; and State Housing Initiatives Partnership (SHIP) Program Local Housing Assistance Plan Amendment for State Fiscal Years 2012-2013, 2013-2014, 2014-2015. All Districts