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Details
| Title |
A Preservation Strategy for Florida’s Affordable Multifamily Housing |
| Highlights |
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This report identifies processes in Florida programs that can discourage the preservation of affordable multifamily units. |
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This report recommends changing the programs to improve processes and allow more time for compliance. |
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There is implicit recognition that excessive fees can discourage the preservation of affordable multifamily housing. |
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This report recommends combining preservation fees so they do not exceed fees for new construction. |
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There is implicit recognition that regulations can be excessive and may discourage rehabilitation of existing units. |
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This report recommends changing programs in Florida to promote rehabilitation of existing rental units. |
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| Description |
This report, by the Affordable Housing Study Commission, reviews existing multifamily housing preservation programs in Florida. The Commission studied housing programs for two years and found several obstacles to preserving rental housing, including the conversion of many multifamily rental units to market-rate condominiums. A lack of financial incentives for preservation and an application process that favors new construction both discourage developers from taking on preservation projects. Existing federal programs, the report states, fall short of preserving rental multifamily housing.
The report makes recommendations on how to reduce obstacles that limit the preservation of multifamily rental housing. These recommendations include creating a set aside housing credit that will fund preservation. The recommendations also include combining preservation transaction fees so they do not exceed fees for new construction and discourage preservation. In addition, the report recommends revision of the State Apartment Incentive Loan program, which provides low-interest loans to affordable housing developers. According to the report, changes to the program should allow for moderate rehabilitation, help improve other existing programs and processes, and allow more time to comply with set aside commitments. Finally, the report recommends that requests for conversions of rental units to condominiums be denied. |
| Publication Date |
2006 |
| Organization |
Affordable Housing Study Commission |
| Web Location | http://www.floridahousing.org/NR/rdonlyres/63332252-F3EA-486A-9F59-B95E7F6CDE56/0/AHSCFinalReport2006.pdf |
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the views of the author and/or promulgating municipality, and should
not be construed as representing the views or policies of the U.S.
Department of Housing and Urban Development or U.S. HUD's Office
of Policy Development and Research. No attempt has been made by
U.S. HUD or its contractors to verify the accuracy, currency, or
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