DeSantis announces $75 million in rental and mortgage assistance amid Covid-19

Governor Ron DeSantis announced that the Florida Housing Finance Corporation (FHFC) Board of Directors has unanimously approved the release of $75 million to local governments to help Floridians in need of rental and housing assistance. mortgage due to the COVID-19 pandemic. Through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), DeSantis has made $250 million available, of which $120 million will be sent to local governments to provide a rental and mortgage assistance program . The $75 million approved Friday is the first release of funding to local governments.

“The COVID-19 pandemic has caused profound disruption to families across the state,” DeSantis said. “I hope these funds and the rest of the $250 million will provide some relief to people who, through no fault of their own, are now struggling to make ends meet.”

In general, the Coronavirus Relief Fund (CRF) is part of the CARES (Coronavirus Aid, Relief, and Economic Security) Act passed by Congress and signed into law by the President. donald trump in March 2020 in response to the economic fallout from the COVID-19 pandemic.

The Florida Housing CRF Fund for impacted landlords and renters will be administered by the local housing office of the State Housing Initiatives (SHIP) Partnership Program in your community. Florida Housing staff are working with local governments and SHIP programs in preparation to begin the application process in each community as soon as possible.

The $75 million includes allocations to many Florida local governments, but the governor visited the town of Apopka to highlight Orange County’s $7.3 million allocation.

“As Floridians continue to struggle with the negative economic impacts of COVID-19, Florida Housing remains committed to providing renters and homeowners with housing assistance,” said Trey Price, executive director of the Florida Housing Finance Corporation. “We are proud to stand with the Governor to ensure affordable housing remains a top priority and that families have the support they need to stay in their homes during these difficult times.”

Administered by the Florida Housing Finance Corporation (FHFC), $120 million will be provided in short-term rental assistance for households affected by COVID-19 residing in multi-family rental properties in FHFC’s portfolio. FHFC will reimburse participating properties to subsidize eligible household rents for each impacted month.

Rent assistance will be available to help pay a household’s rent during the eligible months of July through December 2020. The household may be eligible for assistance to pay rent arrears accrued during the months of April, May and June 2020.

A separate pool of $120 million will be paid to counties based on a county’s reemployment assistance rate for the specified disbursement period. These funds would be used for rental and landlord assistance programs, such as new construction, rehabilitation, mortgage buyouts, down payment and closing cost assistance, emergency repairs and homeownership advice for those impacted by COVID-19. The allocation also includes $200,000 for technical assistance to local governments.

A one-time allocation of $2 million will be provided to help cover past and future costs related to staffing, security and additional supplies directly related to COVID-19 to meet special needs and homeless households residing in housing estates with support services. Allocation will be based on the total number of units of each development.

In addition, $8 million will be provided for anticipated administrative costs, including credit underwriting, disbursement review and processing, compliance monitoring, and technical assistance. Funds not used for administration, if any, would be added to rent assistance and/or operating assistance for special needs developments.