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Find similar grantsMultifamily Mortgage Revenue Bonds is sponsored by Florida Housing Finance Corporation. Provides below-market rate construction loans to developers of affordable housing in Florida.
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Multifamily Mortgage Revenue Bonds [](https://www. floridahousing. org/home "Florida Housing Finance Corporation")[](https://www.
floridahousing. org/home "Florida Housing Finance Corporation") * [](https://www. floridahousing.
org/ "Home") * About Florida Housing Overview * Board Meeting Agendas and Information * Audited Financial Statements * Long Range Program Plan * Quarterly Performance Measure Reports * Public Records Requests * Public Meeting Notices and Events * Municipal Advisor Notice * Affordable Housing Workgroup * Universal Application Proceedings * Procurement & Contracts * Procurement & Contracts Overview * Credit Underwriting, Loan Servicing and Compliance Monitoring * Requests for Applications (Other Florida Housing Programs)) * Invitations to Negotiate * Request for Information * Request for Qualifications * Single Source Procurement * Public Records Requests * Multifamily Programs Overview * Competitive Funding Information Overview * RFA Submitted Applications * Elderly Housing Community Loan * Grants for Persons with Developmental Disabilities * HOME Investment Partnerships * Low Income Housing Tax Credits * Multifamily Mortgage Revenue Bonds * National Housing Trust Fund * State Apartment Incentive Loan * Multifamily Mapping Application * Lender and Real Estate Agent Locator * Mortgage Credit Certificate (FAQs)) * Top Performing Lenders and Contacts * Homeownership Pool (HOP) Program-program) * Current Homeowners Overview * Florida's Hardest-Hit Fund * Insurance Claim Check Endorsement Requests * Recapture Tax Reimbursement Plan * FloridaHousingSearch.
org * Preservation Opportunities * Special Needs Housing Overview * Housing Stability for Schoolchildren Program * Florida Assessment of Housing for Homeless and Special Needs Populations * Important Announcements * Research & Publications * Education, Training & Technical Assistance * Universal Design & Accessibility in Housing * Home Investment Partnerships Program (HOME) from the American Rescue Plan Act (HOME-ARP)-from-the-american-rescue-plan-act-(home-arp)) * Special Programs Overview * Predevelopment Loan Program * SHIP - State Housing Initiatives Partnership Program * SHIP - State Housing Initiatives Partnership Program Overview * SHIP Technical Bulletins * Disaster Relief Resources and Information * Local Government Information * Local Housing Assistance Plan (LHAP)) * Current Local Housing Assistance Plans/current-local-government-lhaps) * LHAP Template and Exhibits/lhap-template-and-exhibits-(docs)) * Homeownership Development * Statewide Permanent Supportive Housing Workgroup * Live Local Act Overview * Live Local Program Tax Credit * Multifamily Middle Market Certification * Hometown Heroes Program * Additional SAIL-like Funds * Data , Docs & Reports Overview * Board Meeting Agendas and Packages * Audited Financial Statements * Municipal Advisor Notice * Long Range Program Plan * Public Records Requests * Government Relations Contact * Public Records Requests * Submit Public Inquiries Multifamily Mortgage Revenue Bonds The Multifamily Mortgage Revenue Bond program (MMRB) uses both taxable and tax-exempt bonds to provide below market-rate loans to non-profit and for-profit developers who set aside a certain percentage of their apartment units for low income families.
These bonds are sold through either a competitive or negotiated method of sale or private placement. The program requires that at least 20 percent of the units be set aside for households earning at or below 50 percent of the area median income (AMI). The developer may also opt to set aside 40 percent of the units for households earning at or below 60 percent of the AMI.
The MMRB program encourages targeting in several areas. For the 2003 Universal Application Cycle, small counties recieve 10 percent (10%) of the total allocation, and medium counties receive 31 percent (31%) of the total allocation. Large counties will receive 59 percent (59%) of the allocation.
Special consideration is given to developments that target specific groups or areas such as the Florida Keys, rural development, the elderly, urban infill areas, Front Porch Florida communities, HOPE VI communities, homeless people, and farmworkers or commercial fishing workers.
Affordable housing developers are able to use the dollars from this program in conjunction with other Florida Housing programs, such as the Affordable Housing Guarantee Program, which participates in the U.S. Department of Housing and Urban Development's Multifamily Risk Sharing program, and the State Apartment Incentive Loan Program.
The MMRB process is a multi-layered process that includes periods such as the allocation of private activity bonds; rule development, ranking and scoring of applications; public hearings; credit underwriting; fiscal sufficiency; loan commitment; real estate closing; and bond pricing and closing.
Typically, affordable housing developers involved in the construction or acquisition of properties of 200 units or more submit applications to the MMRB program. Eligible applicants should apply for funding through Florida Housing's Request for Applications (RFA) process process ")or contact our office for further information. This program is governed by Rule 67-21 of the Florida Administrative Code.
Non-Competitive Application (MMRB and/or Non-Competitive 4% HC) Application Process * Affordable Housing Study Commission * Property Owners & Managers * Requests for Applications * Report Fraud Waste or Abuse **Florida Housing Finance Corporation** 227 N. Bronough Street, Suite 5000 Tallahassee, Florida 32301 [](https://www. instagram.
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com/company/florida-housing-finance-corporation/ "LinkedIn")[](https://www. facebook. com/floridahousing/ "Facebook") Your feedback will be used to help improve Google Translate
Based on current listing details, eligibility includes: Nonprofit and for-profit developers in Florida. Applicants should confirm final requirements in the official notice before submission.
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