The Housing Finance Authority of Broward County, Florida provides tax exempt and taxable financing for the acquisition, construction, and/or rehabilitation of multi-family rental housing projects which satisfy the goals and requirements of the HFA, and comply with applicable federal and state law. In any given year, the ability of the HFA to provide tax-exempt financing for projects is contingent upon receipt by the HFA of an annual tax-exempt bond allocation from the Division of Bond Finance of the State of Florida (the Division).
The HFA has carefully considered the types of projects it desires to finance, the financing professionals it wishes to use, the fees it charges, and the financing terms it requires.
The HFA will only consider financing multifamily housing projects which adhere strictly to the requirements set forth in these Policies and Procedures for Multifamily Housing Bond Program (the Bond Policies). The HFA has compiled these policies to inform developers and prospective applicants of the general requirements and guidelines which apply to the issuance of bonds to finance multifamily rental housing projects. The HFA will not negotiate the requirements set forth in these Bond Policies on a transaction-by-transaction basis. Compliance with these Bond Policies does not create any right in favor of a developer, applicant or project, nor will such compliance result in any assurance that a specific project will be financed.
The HFA has the sole right to select the projects it wishes to finance. The HFA may, in its sole discretion, waive specific provisions of these Bond Policies if doing so is determined to be in the best interest of the HFA, or is determined to be in furtherance of its stated goals or objectives. Furthermore, the HFA may, at any time, amend, revise or repeal its policies, including all or any portion of these Bond Policies, with or without notice, and the HFA reserves the right to impose additional requirements on a particular project.
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