Formula Grant F25SG120100

Federal Formula Grant Award Summary

The Department of Housing and Urban Development (HUD), through the Assistant Secretary for Community Planning and Development, awarded $8.53 million to the Florida Housing Finance Corporation under the Housing Trust Fund program (CFDA 14.275) on February 24, 2026. This formula grant, with a completion deadline of February 24, 2033, provides funding to expand and preserve affordable rental housing for extremely low-income and very low-income households in Florida. The award enables the state housing finance agency to acquire, rehabilitate, and construct rental housing units; provide homebuyer assistance; deliver rental assistance; and support housing rehabilitation projects targeting households with incomes at or below 30% and 50% of area median income.

As a state housing finance agency, the Florida Housing Finance Corporation must allocate at least 80% of the awarded funds toward rental housing production, preservation, and rehabilitation activities, with remaining funds available for homeownership assistance (up to 10%) and administrative/planning costs (up to 10%). The grantee is required to submit an HTF allocation plan as part of its Consolidated Plan and Annual Action Plan, with all funds committed to projects within 24 months and expended within the five-year performance period. Compliance with 24 CFR Part 91 and applicable Housing Trust Fund requirements is mandatory, including record-keeping obligations extending five years beyond the required period of affordability.