Florida Housing Invited Developers to Participate in New Issue Bond Program

TALLAHASSEE, FL – November 17, 2009 – (RealEstateRama) — In late October, 2009, the Treasury, the Federal Housing Finance Administration, Fannie Mae and Freddie Mac announced a new program under which housing bond issuers will have the opportunity to sell multifamily bonds to Fannie Mae and Freddie Mac (the “GSEs”) that will in turn be securitized and sold to the Treasury. The new program is known as the HFA Initiative/ New Issue Bond Purchase (“NIBP”) program and has been created based on authority granted under the Housing and Economic Recovery Act of 2008 (HERA).

The purpose of the program is to provide low interest rate tax exempt financing to developers acquiring or constructing multifamily developments qualifying for private activity bonds.View the full release on this program here (includes development qualifying guidelines, program timeline, and more information).

Conference Call Scheduled
The Corporation will host a conference call on Wednesday, November 18 at 4:00PM Eastern. The dial-in number is 800-893-0716. For any questions regarding the program, please contact Wayne Conner at 850-488-4197.

Contact:
Cecka Rose Green (850) 488-4197