strong>Tallahassee – Florida Housing announces the availability of $10 million dollars in Homeownership Pool (HOP) Program funding. This funding will be made available to eligible homebuyers and will be divided into two (2) releases of $5,000,000 each. The first release will occur Tuesday, July 1, 2008 at 9:00 a.m. The second will occur in/around January 2009.
Funding will be awarded in accordance with Rule Chapter 67-57, Florida Administrative Code (F.A.C.) and will be split among the following set-asides:
20% for Community Housing Development Organizations (CHDOs)
10% for Self-Help Housing
45% for Non-Participating Jurisdictions (Non-PJs)
25% for Participating Jurisdictions (PJs)
Florida Housing created the HOP Program in response to the recognized need to enhance the ability and process of Developers to match qualified homebuyers with purchase assistance. HOP is designed to be a noncompetitive and on-going program where Developers, by way of an online system, have the ability to reserve funds for eligible homebuyers to provide purchase assistance on a first-come, first-served basis.
