Financing and Monitoring Rental Housing with SHIP
SHIP funding is primarily focused on homeownership, but it can be a valuable tool to support rental housing projects. This workshop addresses the principles behind developing and financing affordable rental housing. The challenges and opportunities of both new construction and rehabilitation will be covered, as will small, scattered site deals and large-scale developments. The presenters will provide an overview of tax credit deals from a SHIP perspective to help participants understand the local government role in funding and compliance. Key topics include income eligibility, calculating affordability, and the components of compliance monitoring. Learn what the “missing middle” is and how it can be supported with SHIP funds, as well as the SHIP requirements for ongoing monitoring of assisted rental units. The presenters will discuss how SHIP can leverage other sources of funding such as low-income housing tax credits. Learn how SHIP can be used as the Local Government Contribution for development responding to a Request for Application from Florida Housing Finance Corporation. Participants will gain perspective on monitoring long term affordability, and other monitoring and compliance responsibilities.
Who Should Attend?
This training is sponsored by the Florida Housing Finance Corporation’s Affordable Housing Catalyst Program and Facilitated by the Florida Housing Coalition.