Florida's Preservation Fund

In 2008 the Florida Housing Finance Corporation established a pilot program to preserve affordable rental housing in 3 counties. In 2011, the Florida Preservation Fund (FPF) Program was expanded to 26 Florida counties to provide developers access to low rate loans for acquisition of multi-family properties, including construction funding and refinancing for the rehabilitation of properties.

Eligible properties must be located in one of the 26 eligible counties, and:

  • Must meet one of two affordability criteria: 51% of units set aside for individuals or families with income of 50% or less of AMI; or 100% of units set aside for individuals or families with income of 80% or less of AMI. 
  • AND must meet one of the following characteristics: receiving project-based rental assistance and at risk of losing affordability restrictions; abandoned or foreclosed existing multi-family rental property; deteriorating property with affordability restrictions; occupied property that is at risk of losing affordabiliity restrictions; or eligible and approved for funding as multifamily project under NSP guidelines. 

Program Purpose

FCLF’s “Florida Preservation Fund” uses private and public funding sources to:

  • Preserve affordable multifamily rental housing in Florida;
  • Provide loans to developers for acquisition and/or rehabilitation of affordable multifamily rental properties; and
  • Help ensure the availability of homes for families receiving project-based rental assistance.

For more information, please visit the FLFC website

Contributed By: 
National Housing Trust

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