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WEBINAR- Supporting Your Rental Housing Developer
November 30, 2021 - 10:00 am - 11:30 am
Every community in Florida has a shortage of affordable rental housing. Local governments seek quality multifamily development that is responsive to community needs. In the past, local governments had little or no say in the type, scale, or location of multifamily developments. If they met code, they could be built with no local subsidy. More frequently local governments can have a say in the development process by actively working with the developers when they seek approvals as well as a contribution of funding, land, or regulatory incentives. Many questions arise for local government staff as to how to support projects that most closely meet the community’s housing needs and other criteria. This webinar puts a spotlight on the formation of a consistent and compliant process to work with developers so proposed projects can be evaluated and selected for preference and allocation of support. A prime example is the “Local Government Contribution” required for some Florida Housing Finance Corporation Requests for Applications. Competing projects vie for this valuable support and can propose quality development, tenant amenities, and permanent affordability. We will go through examples of how to evaluate projects and to make the commitment while reserving remittance until the project gets the go ahead from Florida Housing Finance Corporation. We will cover the concept of land value creation and capture and look at various sources, including SHIP, that can be used to support quality rental developments.