Florida Housing Finance Corporation

The hearing addressed multiple petitions regarding housing credit allocation decisions. Key topics included the interpretation of site control requirements, the validity of equity commitment letters containing alleged typographical errors, and the procedural handling of an application withdrawal by Hammock Crossings.

The agenda items for the meeting cover several areas requiring board approval, including HOME Rental funding for Greyes Place, Phase II. Under Housing Credits, there are multiple requests for approval of organizational structure changes and CHIRP ITP Waiver requests for LPA Closing Deadlines for various properties. The Legal section includes items In Re: Southwick Commons, Ltd. and BDG Banyan East Town, LLC. Multifamily Bonds discussions involve approval of Credit Underwriting Reports, bond sale recommendations, and Credit Underwriting Update Letters. Multifamily Programs feature numerous requests for CHIRP ITP Waivers for loan and LPA closing deadlines, as well as Credit Underwriting Report approvals. The Predevelopment Loan Program (PLP) includes requests for revised loans/budgets and new loans for several entities, along with an assumption of a PLP Loan. Professional Services Selection addresses RFQ for Guaranteed Investment Contract Broker Services and Single Source Procurement for OnBase Licensing. State Apartment Incentive Loan Program (SAIL) items focus on RFA Waiver approvals and extensions for loan closing and commitment issuance deadlines. Finally, Special Assets items involve requests to refinance first mortgages, extend a SAIL Loan, and a Partial Release of Land.

The meeting commenced with the approval of the October 24, 2025, Board Meeting Minutes. The Audit Committee provided an update, reporting the approval of their minutes and the review of salary adjustments, followed by a closed session on Information Security and Incident Management. The Consent Agenda was approved after correcting a scrivener's error regarding a deadline extension for the New River Place project and after separate approval of Legal-Consent C. Key discussions included a legislative update outlining Florida Housing's strategy for the 2026 Legislative Session, an update on the Live Local Program which has reserved $35 million of its appropriation and leveraged significant first mortgage capital, and a presentation on the five-year strategic plan. Action items included the unanimous approval of the 2026 Proposed Operating Budget. Under Homeownership Programs, authorization was requested to proceed with developing a Homeownership Pilot Program utilizing Manufactured Housing, involving workshops and potentially a competitive solicitation utilizing up to $3 million in loan guarantees. The board also approved tentative funding selections for several SAIL Financing RFAs related to elderly developments, affordable multifamily housing in conjunction with Tax-Exempt Bonds, and Live Local financing near military installations. Finally, approval was granted for a one-year, single-source contract with Elation Systems, Inc. for a Davis-Bacon software solution. The meeting concluded with the unanimous re-election of Sandra Veszi Einhorn as Chair and Ryan Benson as Vice Chair for 2026.

The meeting began with housekeeping items regarding future meeting schedules, including dates for subsequent meetings where final recommendations will be voted upon and presented to the Florida Housing Finance Board of Directors. A significant portion of the session involved a panel discussion with rental developers focusing on typical financing structures for multifamily development, contrasting preservation deals using 9% tax credits with classic sale developments utilizing 4% tax credits and state appropriation funds. Panelists also discussed their experience with mixed-income projects, the challenges of developing housing for individuals with disabilities, and the comparison between affordable housing development timelines and market-rate multifamily projects. Specific discussions highlighted the work being done to develop sustainable housing communities for adults with autism and related special needs.

This comprehensive affordable housing policy for Florida, developed by the Affordable Housing Study Commission, aims to improve the delivery of the state's affordable housing programs and increase overall effectiveness in meeting housing needs. It focuses on several key areas: community revitalization, supporting affordable housing providers, addressing specific housing needs for the lowest-income and special populations, preserving existing affordable housing stock, removing obstacles to development, promoting economic integration, and establishing robust funding principles. The policy's overarching goal is to ensure that decent and affordable housing is available for all Florida residents by the year 2010.