NOTICE OF FUNDING AVAILABILITY - HED.2024.1
The Palm Beach County Department of Housing & Economic Development (HED) hereby announces the availability of $3,272,281 in Impact Fee Affordable Housing Assistance Program (IFAHAP) funding from its Fiscal Year 2024 funding cycle. The Palm Beach County Board of County Commissioners (BCC) has authorized the utilization of County impact fee investment earnings to support the construction of affordable owner-occupied, for-sale, and rental housing in Palm Beach County. Program policies are found within the IFAHAP Guidelines located HERE.
HED will begin accepting applications for funding on May 22, 2024 at 9:00 a.m. at the HED offices located at 100 Australian Avenue, Suite 500, West Palm Beach, FL 33406. Applicants will be funded on a first-come/first-eligible/first-served basis.
AVAILABLE FUNDING: This NOFA HED.2024.1 makes available up to $3,272,281 for the payment of the following Palm Beach County impact fees.
Road Impact Fees: Zone 1: $575,576; Zone 2: $729,559; Zone 3: $309,311; Zone 4: $463,527; Zone 5: $760,566.
Park Impact Fees: Zone 1: $53,205; Zone 2: $118,792; Zone 3: $109,849.
Public Building Impact Fees: Zone 1: $151,896.
ELIGIBLE COSTS: Palm Beach County Roads, Parks, and Public Building impact fees associated with the construction of affordable housing are the only costs eligible for IFAHAP funds. The requested amount may not exceed the actual Road, Park, or Public Building impact fee amount for the affordable housing project. Applicants who have already received building permits for their projects at the time of application are not eligible for assistance under IFAHAP. The Certificate shall not be used to obtain a reimbursement of impact fees already paid, but shall only be used to offset impact fees due but not yet paid.
ELIGIBLE APPLICANTS: For-profit and non-profit developer entities which seek to build affordable rental or for-sale housing units, and persons who seek to build owner-constructed housing units for owner occupancy as their principal place of residence.
PROJECT LOCATION LIMITATIONS: Projects must be located within Road Impact Fee Zones 1 through 5; Park Impact Fee Zones 1 through 3; or Public Building Impact Fee Zone. Maps of these zones are included in the application packet.
OCCUPANCY AND AFFORDABILITY REQUIREMENTS: All affordable housing units which receive assistance under the IFAHAP must be occupied by households whose incomes do not exceed one-hundred forty percent (140%) of the Area Median Income. Affordability restriction on all assisted units will be no less than 30 years. Occupancy periods and housing unit affordability requirements are detailed in the IFAHAP Guidelines.
PROPERTY RESTRICTIONS: IFAHAP assistance and the associated affordability requirements will be secured by a Declaration of Restrictions recorded on title to the assisted property.
IMPORTANT DEADLINES: The following deadlines will be strictly adhered to:
- Funding awards under this NOFA must be approved by the BCC no later than March 10, 2026.
- Funding is provided in the form of a Certificate of Award shall expire within two (2) years after the date of funding approval by the BCC.
- Applicants must obtain a certificate(s) of occupancy from the building department with jurisdiction over their projects for all assisted units and must have such units occupied by eligible individual or households as specified herein within four (4) years after the date of funding approval by the BCC.
THERE IS NO DEADLINE FOR SUBMITTING FUNDING APPLICATIONS UNDER THIS NOFA. HED WILL CONTINUE TO ACCEPT APPLICATIONS UNTIL ALL FUNDING IS ALLOCATED OR RETURNED TO THE COUNTY IMPACT FEE FUND.
The funding application is located HERE
Este aviso y los documentos a los que se hace referencia en este documento están disponibles en español y hay servicios de traducción disponibles. Comuníquese con HED al (561) 233-3600.
Avi sa a ak dokiman referansye yo disponib nan lang panyòl, ak sèvis tradiksyon ki disponib. Kontakte HED nan (561) 233-3600.
IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT (ADA), THIS AD AND DOCUMENTS LISTED ABOVE MAY BE REQUESTED IN AN ALTERNATE FORMAT. PLEASE CONTACT HED AT (561) 233-3600.
PUBLISH: April 24, 2024
Addendum No. 1 NOFA HED.2024.1