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WORKSHOP – Shared Equity Homeownership (North Miami)
March 20, 2018 - 8:00 am - 5:00 pm
REGISTER (North Miami)
This workshop will explain shared equity programs, and how incorporating shared equity provisions into SHIP strategies can more effectively expand and preserve the affordable housing stock. We will cover the philosophy, mechanics, and best practices for shared equity programs including how a local government can partner with a community land trust to implement a SHIP shared equity program. Presenters will address key topics such as resale restrictions, local government disposition of surplus lands, lending for shared equity programs, and recordkeeping. Participants will also learn about Fannie Mae and Freddie Mac’s Duty to Serve Rule, effective January 2018, which applies to shared equity affordable housing.
Who Should Attend?
- Local government housing administrators
- Community partners
- Elected officials and Affordable Housing Advisory Committee members
- Nonprofit housing staff
- Purpose and philosophy behind shared equity programs
- Three main types of shared equity programs, including advantages, challenges, and examples of each
- Factors in determining resale restrictions and examples
- Walk-through of sample SHIP strategies
- Overview of legal documents such as restrictive covenants and ground leases
- The role of the local government in supporting a CLT, including a review of “surplus lands” law
- Best practices for enforcement and recordkeeping
- How the lending community is supporting shared equity models
This workshop is sponsored by the Florida Housing Finance Corporation’s Affordable Housing Catalyst Program and Facilitated by the Florida Housing Coalition.
Upon completion of this training each participant will receive a certificate of completion