Housing Assistance (Watch)

Housing Assistance (Watch)

HB 301 (Cortes J.) creates a local government risk mitigation program through a local government’s housing assistance plan for counties and municipalities participating in the State Housing Initiatives Partnership program. The program is intended to provide a mechanism for a landlord of affordable housing rentals units to offset out-of-pocket losses incurred from property damage or unpaid rent by tenants. 

This bill specifies that up to 10 percent of the funds used to reserve rental houses for eligible persons may be set aside to fund the program if the local government provides an equivalent percentage of local matching funds. The bill establishes monetary caps that may be awarded to a landlord under the program. The Florida Housing Finance Corporation is directed to develop guidelines to administer the program, including requirements for submission of claims to the appropriate local government. A local government is required to review a properly submitted claim within two days. (Branch)