Florida's 2015 Qualified Allocation Plan

Florida Housing Finance Corporation’s 2015 Qualified Allocation Plan sets aside 15% of its tax credit allocation for preservation or acquisition & preservation applicants.

Up to 5% of the allocations will be reserved for high-priority affordable housing project, as defined by the Board and another 5% will be reserved for projects that target persons who have a disabling condition. Eighty-five percent of the remaining allocation authority will be used for applicants in the following development categories: New Construction, rehabilitation, Acquisition and Rehabilitation, Redevelopment, or Acquisition and Redevelopment. Within the set-asides, there is a geographic distribution for large counties (59%), medium counties (36.7%) and small counties (4.3%). To ensure a diversified rental housing portfolio, FHFC will target one project in the Florida Keys Area of Critical State Concern and/or the City of Key West Area of Critical State Concern.

Basis Boost: FHFC’s 2015 QAP indicates that they may designate developments for People with Special Needs or Homeless Developments as eligible for up to the 30% basis boost.

Prior to 2013, Florida Housing had traditionally issued the majority of its 9% Competitive Low Income Housing Tax Credits, SAIL (State Apartment Incentive Loan) Program and HOME-Rental (HOME Investment Partnerships) Program funding through one large annual application. In 2013, Florida Housing began soliciting targeted applications through a Request for Applications (RFA) process. The tentative RFA dates for 2014-2015 can be found below. Requests for Applications (RFAs) can be found on the FHFC website: click here

Contributed By: 
National Housing Trust

Other Items of Interest