(WWSB) - Gov. Ron DeSantis announced that the Board of Directors for the Florida Housing Finance Corporation have approved the remaining $45 million of the $120 million to local governments to assist Floridians impacted by the COVID-19 pandemic with rental and mortgage assistance.
Through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), additional funds were previously approved to assist tenants living at multifamily and special needs developments in Florida Housing’s rental housing portfolio.
Coronavirus Relief Fund updates are as follows:
Strategy 1- $120 Million for Rental Assistance for Tenants in Florida Housing’s Portfolio
- To date, a total of 548 affordable multifamily rental housing developments in Florida Housing’s portfolio have responded to the Invitation to Participate in the program.
- Property owners and managers indicate with this funding they will be able to provide assistance to over 10,000 rental households in Florida.
Strategy 2- $120 Million for Rental and Mortgage Assistance for Homeowners and Renters
Since the announcement of this program, more than 80 percent of all local government entities have signed their funding agreements and begun the process of providing rental and mortgage assistance for individuals and families impacted by the pandemic in Florida. Within funding guidelines, participating local governments have the ability to prioritize how the resource will be utilized in their communities.
Strategy 3- $2 Million for Operations Assistance for Housing that Serves Persons with Special Needs or Homeless Households
- 33 special needs developments (representing 2,191 units) in Florida Housing’s portfolio responded to the Invitation to Participate in the program.
- Financial assistance will be provided to these developments to assist them with coronavirus related expenses including extra staffing and cleaning services and supplies that will help keep their residents with special needs healthy during the pandemic
- Agreements have been sent out to the eligible developments.
Earlier this year, the state announced the $250 million to assist Floridians impacted by the COVID-19 pandemic with rental and mortgage assistance. Impacted homeowners and renters can still apply for funding assistance through their local government housing office.
For more information on the program, click here.