Board of County Commissioners
Local Housing Assistance Plan
State Fiscal Years
2015-2018
April 21, 2015
Presentation Outline
Background
Housing Strategies
Action Requested
Presentation Outline
Background
Revisions to Housing Strategies
Action Requested
Background
State Housing Initiatives Partnership Program
(SHIP)
 Dedicated funding source for affordable housing
 Established Housing Trust Fund
 Administered by Orange County
 Monitoring and oversight by the Florida
Housing Finance Corporation
Background
State Housing Initiatives Partnership Program
(SHIP)
 Local Housing Assistance Plan (LHAP) required
 Identifies housing strategies for very low, low, and
moderate income households
 LHAP must be adopted by resolution
Background
State Housing Initiatives Partnership Program
(SHIP)
Orange County Allocation
Year
Allocation
2012-2013
$358,366
2013-2014
$1,340,435
2014-2015
$4,355,191
2015-2016
$4,300,000
Background
SHIP Program – Expenditure Requirements
 65% of funds – home-ownership activities
 75% of funds – construction related
 60% of funds – low-income households
Background
 Housing Market
• Population growth especially in younger
households
• Decline in homeownership rate
• Tight rental market
• Slow wage growth
Background
 Housing Market
Median Price of Homes
2013
$149,000
2014
$164,000
2015
$160,000
Background
 Housing Market
Value of Single Family Building Permits
2013
2014
2015 YTD
Single Family
# of Permits
1,926
2,015
668
Median Value
$322,376
$344,822
$324,196
Background
 Housing Market
Rental Units Completed
Occupancy Levels
Source: 2014 MPF Research of the Orlando Metropolitan Area
Background
 Housing Market
Changes in Orange/Osceola/Seminole Households 2007-2013
Source: Shimberg Center for Housing Studies, University of Florida
Presentation Outline
Background
Housing Strategies
Action Requested
Housing Strategies
Current LHAP Housing Strategies
 Down Payment Assistance
 Home-owner Rehabilitation
 Multi-Family Acquisition/Construction
 Special Needs Housing
Housing Strategies
Yearly Average 2010-2015
Down Payment Assistance
115
Homeowners Rehabilitation
114
Multi-Family Construction
93
Special Needs Housing
25
Housing Strategies
Income Limits
Household
Size
Very Low
(50% of
Median)
Low
(80% of
Median)
Moderate
(120% of
Median)
1
2
3
4
$20,450
$23,350
$26,250
$29,150
$32,700
$37,350
$42,000
$46,650
$49,080
$56,040
$63,000
$69,960
Housing Strategies
Down Payment Assistance
 Provide assistance to very low, low, moderateincome households
 Required pre-purchase homebuyers education
Income Level
Current
Very Low
$30,000
Low
$20,000
Moderate
$10,000
Housing Strategies
Housing Rehabilitation
 Provide assistance to very low income households
Activity
Current
Emergency Rehab
$20,000
Substantial Rehab
$75,000
Reconstruction
$100,000
Housing Strategies
Multi-Family Construction
 Encourage acquisition, construction, or
rehabilitation of rental housing for very low and
low income households
 Continue to provide minimum local government
contribution for developers competing for State
Housing Tax Credits
Housing Strategies
Special Needs Housing
 For adult persons requiring independent living
services
 Provide assistance to disability support
organizations:
• acquire, construct, or rehab group homes
• provide home modifications for people with
disabilities
Housing Strategies
Impact Fee Subsidy
 Developer incentive to build owner occupied homes,
affordable to low-income households
 Subsidy Level:
Income Category
Current
Proposed
Very Low
50%
75%
Low
25%
50%
Moderate
0
0
Housing Strategies
Maximum Sales Price
 Maximum sales price must be established in LHAP
 Currently $200,000
 Average price under our programs is $124,000
Presentation Outline
Background
Revisions to Housing Strategies
Action Requested
Action Requested
 Adoption of Resolution of the Orange County
Board of County Commissioners regarding the
State Housing Initiatives Partnership Program
(SHIP) and the Orange County SHIP Local
Housing Assistance Plan (LHAP) for State Fiscal
Years 2015-2016, 2016-2017 and 2017-2018; and
approval of Certification to Florida Housing
Finance Corporation. All Districts