Pandemic: Catalyst for Change - Florida Association of Local Housing Finance Authorities 2021 Virtual Education Conference June 22 - July 27 ...
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Pandemic: Catalyst for Change Florida Association of Local Housing Finance Authorities 2021 Virtual Education Conference • June 22 – July 27
Sydney Trace Apartments Jacksonville Housing Finance Authority The Vestcor Companies, Inc. Proud Sponsor of the 2021 Florida ALHFA Conference RBC Capital Markets is recognized as an innovative partner with in-depth expertise in affordable housing finance. Our team provides a complete range of financing solutions to meet the needs of HFAs, investors and developers raising over $4.7 billion and ranked as the #1 underwriter of single and multi-family issues in the U.S. in 2020. Helen Hough Feinberg Debbie Berner Dave Urban Cameron Hill Becca Ickowicz Managing Director Director Director Vice President Vice President 727.895.8892 727.895.8885 980.233.6437 727.502.3631 727.895.8809 helen.feinberg@rbccm.com debbie.berner@rbccm.com david.urban@rbccm.com cameron.hill@rbccm.com becca.ickowicz@rbccm.com rbccm.com/housingfinancegroup Source: Refinitiv 1/1/20-12/31/20. This advertisement is for informational purposes only. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affili- ates, including RBC Capital Markets, LLC (member FINRA, NYSE and SIPC). ®/™ Trademark(s) of Royal Bank of Canada. Used under license. © Copyright 2021. All rights reserved.
FLORIDA ASSOCIATION OF
LOCAL FINACE AUTHORITIES
2021 VIRTUAL EDUCATION CONFERENCE
TABLE OF CONTENTS Board of Directors
Harry Hedges, President
Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Angela Abbott, VicePresident
Letter From The President . . . . . . . . . . . . . . . . . . 3 Kathryn Driver, Secretary/Treasurer
Letter From The Directors . . . . . . . . . . . . . . . . . . . 4 Walt Ferguson W. D. Morris
Cheree Gulley Rich Pierro
Agenda At A Glance . . . . . . . . . . . . . . . . . . . . . . . . 5 Pat Lott Jim Ryan
Full Agenda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-9
Executive Directors
Advertisers . . . . . . . . . . . . . . . . . . . . . . . . . . 10-OBC Mark Hendrickson
Susan Leigh
REGISTER TODAY AT FLALHFACONFERENCE.COM
Runs from June 22 through July 27, at noon on most Tuesdays and Thursdays.
Over 10 Educations Sessions, Virtual Exhibit Hall & More – Join Us Today!
Florida AHLFA Educational Conference 2021 1
THANK YOU TO ALL 2021 SPONSORS
P TINUM
HFA OF BROWARD COUNTY JACKSONVILLE HFA
DOMINIUM HFA OF LEE COUNTY
eHOUSING PLUS HFA OF MIAMI-DADE COUNTY
ESCAMBIA COUNTY HFA PINELLAS COUNTY HFA
HFA OF HILLSBOROUGH COUNTY RAYMOND JAMES
RBC CAPITAL MARKETS
GOLD
AMERINAT HFA OF LEON COUNTY
BLUE SKY COMMUNITIES HFA OF MANATEE COUNTY
BREVARD COUNTY HFA ORANGE COUNTY HFA
HFA OF CLAY COUNTY PALM BEACH COUNTY HFA
FLSAFE/PMA FINANCIAL NETWORK SOUTHPORT FINANCIAL SERVICES
FREDDIE MAC STIFEL
HILLTOP SECURITIES THE VESTCOR COMPANIES
BREAKFAST SPONSOR
FIRST HOUSING
SILVER
BILZIN SUMBERG NELSON MULLINS RILEY
BRYANT MILLER OLIVE, P .A . & SCARBOROUGH, LLP
CSG ADVISORS THE NICHOLS GROUP, P .A .
FLORIDA COMMUNITY LOAN FUND SELTZER MANAGEMENT GROUP
GREENBERG TRAURIG STEARNS WEAVER MILLER WELSSLER
NABORS GIBLIN & NICKERSON ALDAHEFF & SITTERSON, P .A .
U .S . BANK TRUST
VIRTUAL EXHIBITORS
BLUE SKY COMMUNITIES FLORIDA COMMUNITY LOAN FUND
DOMINIUM RAYMOND JAMES
HFA OF MIAMI-DADE COUNTY RBC CAPITAL MARKETS
STIFEL
AT HTTPS://FLALHFACONFERENCE .COM/VIRTUAL-EXHIBIT-HALL
2 Florida ALHFA
Florida Association of Local Housing Finance Authorities
BOARD OFFlorida Association of Local Housing Finance Authorities
DIRECTORS
BOARD
PRESIDENT OF DIRECTORS SECRETARY/TREASURER BOARD MEMBER BOARD MEMBER BOARD MEMBER
HARRY HEDGES KATHRYN DRIVER WALT FERGUSON CHEREE GULLEY PAT LOTT
PRESIDENT
HFA OF HILLSBOROUGH COUNTY SECRETARY/TREASURER
HFA OF PINELLAS COUNTY BOARD
HFA OF MEMBER
LEE COUNTY BOARD
HFA OF MEMBER
MIAMI-DADE COUNTY BOARD MEMBER
ESCAMBIA COUNTY HFA
HARRY HEDGES KATHRYN DRIVER WALT FERGUSON CHEREE GULLEY PAT LOTT
VICE PRESIDENT
HFA OF HILLSBOROUGH COUNTY BOARD
HFA OF MEMBER
PINELLAS COUNTY BOARD MEMBER
HFA OF LEE COUNTY BOARD MEMBER
HFA OF MIAMI-DADE COUNTY EXECUTIVE DIRECTORS
ESCAMBIA COUNTY HFA
ANGELA ABBOTT W.D. MORRIS RICHARD PIERRO JIM RYAN MARK HENDRICKSON
VICE PRESIDENT
BREVARD COUNTY HFA BOARD MEMBER
ORANGE COUNTY HFA BOARD
HFA OF MEMBER
MANATEE COUNTY BOARD
HFA OF MEMBER
CLAY COUNTY EXECUTIVE
SUSAN DIRECTORS
LEIGH
ANGELA
HFA ABBOTTCOUNTY
OF MANATEE W.D. MORRIS RICHARD PIERRO JIM RYAN MARK HENDRICKSON
BREVARD COUNTY HFA ORANGE COUNTY HFA HFA OF MANATEE COUNTY HFA OF CLAY COUNTY SUSAN LEIGH
HFA OF MANATEE COUNTY
June 15, 2021
On behalf of the Board of Directors, welcome to the Florida ALHFA 2021 Virtual Educational Conference.
The annual conference gives each of us time to reflect on the year that has passed and to look to the future.
The successes we have achieved could not take place without the support of all the conference sponsors.
This year the financial support of our members has been exceptionally strong. Special thanks should go to our Platinum
HFA Sponsors— Broward County, Escambia County, Hillsborough County, Jacksonville HFA, Lee County, Miami-Dade
County, and Pinellas County; and Associate Platinum Sponsors, Dominium, eHousing Plus, Raymond James, and RBC
Capital Markets.
This year’s conference theme is Pandemic: Catalyst for Change. What does that mean? As HFAs we find ourselves at times
content to just “making the donuts”. Significant change in our environment and economy gives us the opportunity to rethink
our mission, methods, and efforts. The leadership of the association is asking you, through what you learn at this conference,
to renew your interest and focus on how your organization can serve your community the best. Looking forward to an in
person meeting at the 2022 conference.
As the President, it has been gratifying to see impact that our organization is having showing the expanded face of affordable
housing:
• The leadership role that Florida ALHFA has taken in the Sadowski Education Effort has led to a $1.3 billion of
State housing funding since SEE began
• Florida ALHFA has created partnerships with the Florida Housing Finance Corporation and the improved
relationship is providing many benefits to our HFAs
• New leadership developing within the organization
• Read the Seventh Issue of the HFA Journal and learn what your associates are doing
Florida ALHFA continues to grow while continuing to focus on increasing funding opportunities for our member HFAs.
We challenge each of you look at the impact of what you do every day through your Authority and partnerships and begin
to talk about it – let your light shine!
Look forward and understand that with change comes opportunity and growth. For example, our leadership in the Sadowski
Education Effort has brought opportunities that could not have been imagined just five years ago.
Your Board and the leadership of Florida ALHFA pledge to continue on this path.
Harry Hedges
President,
Florida ALHFA
PHYSICAL: 1404 Alban Avenue | Tallahassee, FL 32301 | WEB: www .flalhfa .com | EMAIL: flalhfa@aol .com
MAILING:
PHYSICAL:PO BoxAlban
1404 16129Avenue
| Tallahassee, FL 32317FL| OFFICE:
| Tallahassee, (850)www .
32301 | WEB: 671-5601 | FAX:
flalhfa .com (850) 671-5603
| EMAIL: flalhfa@aol .com
MAILING: PO Box 16129 | Tallahassee, FL 32317 | OFFICE: (850) 671-5601 | FAX: (850) 671-5603
Educational Conference 2021 3
Florida Association of Local Housing Finance Authorities
BOARD OFFlorida Association of Local Housing Finance Authorities
DIRECTORS
BOARD
PRESIDENT OF DIRECTORS SECRETARY/TREASURER BOARD MEMBER BOARD MEMBER BOARD MEMBER
HARRY HEDGES KATHRYN DRIVER WALT FERGUSON CHEREE GULLEY PAT LOTT
PRESIDENT
HFA OF HILLSBOROUGH COUNTY SECRETARY/TREASURER
HFA OF PINELLAS COUNTY BOARD
HFA OF MEMBER
LEE COUNTY BOARD
HFA OF MEMBER
MIAMI-DADE COUNTY BOARD MEMBER
ESCAMBIA COUNTY HFA
HARRY HEDGES KATHRYN DRIVER WALT FERGUSON CHEREE GULLEY PAT LOTT
VICE PRESIDENT
HFA OF HILLSBOROUGH COUNTY BOARD
HFA OF MEMBER
PINELLAS COUNTY BOARD MEMBER
HFA OF LEE COUNTY BOARD MEMBER
HFA OF MIAMI-DADE COUNTY EXECUTIVE DIRECTORS
ESCAMBIA COUNTY HFA
ANGELA ABBOTT W.D. MORRIS RICHARD PIERRO JIM RYAN MARK HENDRICKSON
VICE PRESIDENT
BREVARD COUNTY HFA BOARD MEMBER
ORANGE COUNTY HFA BOARD
HFA OF MEMBER
MANATEE COUNTY BOARD
HFA OF MEMBER
CLAY COUNTY EXECUTIVE
SUSAN DIRECTORS
LEIGH
ANGELA
HFA ABBOTTCOUNTY
OF MANATEE W.D. MORRIS RICHARD PIERRO JIM RYAN MARK HENDRICKSON
BREVARD COUNTY HFA ORANGE COUNTY HFA HFA OF MANATEE COUNTY HFA OF CLAY COUNTY SUSAN LEIGH
HFA OF MANATEE COUNTY
July 15, 2021
Dear Colleagues:
Welcome to the 2021 Florida ALHFA Virtual Annual Educational Conference. We
hope that the agenda will provide useful information on meaningful and timely topics.
This year’s program will focus on Pandemic: Catalyst for Change. With shifting
priorities, economic and market changes, and normal housing problems have become
exaggerated, how do you rise to the challenges? Change brings new opportunities and getting back to basics sometimes
is the most important way to start. Read your policies and guidelines and make sure they are still relevant. Spend time
as a board and consider the opportunities to leverage resources and create the best long- term impact with the least
amount of money. Educate yourself on bond allocation and what to focus on as a Board member.
Federal and states changes with Covid Relief packages will impact both housing funds and tax policy. Get up to speed
and know what to look for in the coming year.
Take a look at the agenda. Although the subject topics may be similar to previous years, we have new speakers and a
different focus in most sessions.
With our focus on back to basics, although many of the professionals have experienced changing markets through the
years, many board members have not. Besides economic changes which impact interest rates, markets, and available
resources, developers and homeowners increase in the cost of product and materials brings additional change. How
do HFAs shift their focus and adjust policies and procedures to assure the best use of resources available on local, state
and federal level?
FLALHFA hopes this will be the last virtual conference. But the good news has been that the organization was able
to adjust and provide for training and information dissemination even in this environment.
Thanks go to all that supported the Sadowski Education Efforts this past year, and we hope will continue to participate
in the coming year. Your support has made the difference in the education of the legislative members knowledge about
the value of the programs it supports.
Of course, without the support of all the Sponsors this conference would not take place. Make sure you thank them.
Remember to participate in the Tuesday (former Saturday morning) wrap up session to provide input that will be
useful for next year’s conference and for the organization in general.
We look forward to your participation during the conference and welcome your input on the organization, conference
or legislative issues. Let’s continue to work together to make the upcoming year an even better success for your HFA,
Florida ALHFA and for the families we serve in each of our communities.
Mark Hendrickson & Susan Leigh
Directors, Florida ALHFA
PHYSICAL: 1404 Alban Avenue | Tallahassee, FL 32301 | WEB: www .flalhfa .com | EMAIL: flalhfa@aol .com
MAILING:
PHYSICAL:PO BoxAlban
1404 16129Avenue
| Tallahassee, FL 32317FL| OFFICE:
| Tallahassee, (850)www .
32301 | WEB: 671-5601 | FAX:
flalhfa .com (850) 671-5603
| EMAIL: flalhfa@aol .com
4 MAILING: PO Box 16129 | Tallahassee, FL 32317 | OFFICE: (850) 671-5601 | FAX: (850) 671-5603 Florida ALHFA Educational
2021 FLORIDA ALHFA ANNUAL EDUCATIONAL CONFERENCE
AGENDA AT-A-GLANCE
Tuesday, June 22 — 11:45 AM to Noon
General Session Membership Meeting
Opening Remarks ......................Florida ALHFA President Harry Hedges
Election of Board Members ......Angela Abbott, Florida ALHFA Vice-President
Conference Logistics..................Susan Leigh, Director, Florida ALHFA
Virtual Exhibitor Hall ..............Lisa Djahed, Communications Director, Florida Housing Coalition
Tuesday, June 22 — Noon to 1:00 PM
Multi-Family: Cutting Edge Topics Part I
Moderator: Mark Hendrickson | Panelists: Ben Johnson, Helen Feinberg, Monique Spotts
Friday, June 25 — Noon to 1:00 PM
Federal Legislative Update
Moderator: Cheree Gulley | Panelists: Jessica Facciponti, Kevin McKenney, Jonathan Paine
Tuesday, June 29 — Noon to 1:00 PM
Florida Legislative Update
Moderator: Mark Hendrickson | Panelists: Sarah Bascom, Ken Pruitt, Jaimie Ross
Tuesday, July 6 — Noon to 1:00 PM
Our Partnership with the Florida Housing Finance Corporation
Moderator: Jim Ryan | Panelists: Trey Price, Marisa Button
Tuesday, July 9 — Noon to 1:00 PM
HFA Board Members: How to be an Effective Board Member of an HFA
Moderator: Debra Koehler | Panelists: Gloria “Nadine” Carswell, Dr. Jeffrey Sharkey
Tuesday, July 13 — Noon to 1:00 PM
Single Family: Past, Present and Future of Programs
Moderator: Sue Denihan | Panelists: Adela Garcia, Karmen Lemberg, Carla Webster, Chip White
Thursday, July 15 — Noon to 1:00 PM
Multi-Family: Cutting Edge Topics Part II
Moderator: Kathryn Driver | Panelists: Marisa Button, Mark Fredericks, Barney Smith
Friday, July 16 — Noon to 1:00 PM
Ethics & Sunshine
Co-Moderators & Panelists: Mary Helen Farris, Don Horn
Tuesday, July 20 — Noon to 1:00 PM
HFA Board Members: Housing Programs 101
Moderator: Susan Leigh | Panelists: Rhonda Bond-Collins, Ed Busansky, Tim Wranovix
Friday, July 23 — Noon to 1:00 PM
HFA Journal Release and Discussion of Unique Programs
Moderator: Pat Lott | Panelists: Susan Leigh
Tuesday, July 27 — Noon to 1:00 PM
Roundtable Discussions
HFA Open Forum: to discuss Conference and FLALHFA
Attorney Roundtable: to discuss issues related to HFA’s legal issues that arise in their representation of issuers,
developers, or other professionals
CPA Roundtable: to discuss accounting and auditing issues related to their work with local HFAs
Educational Conference 2021 5
2021 FLORIDA ALHFA ANNUAL EDUCATIONAL CONFERENCE
PANDEMIC: CATALYST FOR CHANGE
AGENDA
Tuesday, June 22, 2021
11:45 Am - Noon General Session: Membership Meeting
Opening Remarks............................ Florida ALHFA President Harry Hedges
Election of Board Members ............ Angela Abbott, Florida ALHFA Vice-President
Conference Logistics ....................... Susan Leigh, Director, Florida ALHFA
Virtual Exhibitor Hall .................... Lisa Djahed, Communications Director,
Florida Housing Coalition
Tuesday, June 22, 2021
Noon - 1:00 PM Multi-Family: Cutting Edge Topics Part I
Due to the fixed 4% Housing Credit rate, many more bond deals will be feasible. With more deals
coming through an HFA’s system, it is time for a look at whether your system is up-to-date and if
your HFA is doing what is should for proper oversite before and after issuing bonds. Is your system
up-to-date, or was it written in the 1990’s and amended multiple times so that it is redundant and
internally inconsistent? Items for consideration include Issuer fees, minimum denominations,
prohibited vendors, transfer restrictions, change of owner restrictions, administrative fees and process
for post-closing requests, land use restrictions, guarantees, ancillary services agreements (servicing
and compliance monitoring). What guaranties should be required to make sure the project is built to
the specifications your HFA approved and to make sure your ongoing fees are paid? Additionally, as
subsidies increase, so does the potential problem of cost escalation. We will once Additionally, multi-
family bond transactions are becoming more complex, with short term bonds, requirements for HFA
action after closing, and implications for long term HFA revenue.
Moderator: Mark Hendrickson, Executive Director, Florida ALHFA
Panelists: Ben Johnson, President, Seltzer Management Company
Helen Feinberg, Managing Director, RBC Capital Markets
Monique Spotts, Shareholder, Bryant Miller Olive
Friday, June 25, 2021
Noon - 1:00 PM Federal Legislative Update
The Federal COVID relief packages have massive impact on housing funding and tax policy.
Infrastructure and other legislation could also provide significant federal resources. Learn what
passed, what is in the works, and where the money is going—and how HFAs could access the funds
Moderator: Cheree Gulley, Florida ALHFA Board Member & Executive Director, Miami-Dade HFA
Panelists: Jessica Facciponti, NALHFA Legislative Committee Chair and Director of Government
Affairs for the New York City Housing Development Corporation
Kevin McKenney, Director of Government Affairs, NALHFA
Jonathan Paine, Executive Director, NALHFA
6 Florida ALHFA
Tuesday, June 29, 2021
Noon - 1:00 PM Florida Legislative Update
The 2021 legislative session was a wild ride. Learn what happened, why, and what are the steps for the
future. Also, the critical role the Sadowski Education Effort played in preservation and stabilization
of the Sadowski Housing Trust funds will be detailed. Why is SEE such a critical part of the funding
strategy? What is our communications strategy? What is the state revenue situation and how will that
impact our work for the 2022 session? Discussion will include a complete update on SHIP and SAIL
funding from the Sadowski Housing Trust Funds, and how to get state funding in 2022
Moderator: Mark Hendrickson, Executive Director, Florida ALHFA
Panelists: Sarah Bascom, President, Bascom Communications
Ken Pruitt, President, The P5 Group
Jaimie Ross, President & CEO, Florida Housing Coalition
Tuesday, July 6, 2021
Noon - 1:00 PM Our Partnership with the Florida Housing Finance Corporation
FHFC allocates Housing Credits, SAIL funds, and DPA monies. These programs directly impact
local HFAs—in both our rental and home ownership programs. How can a local HFA effectively
impact FHFC decisions? How can our partnership be improved? FHFC’s Executive Director, and
lead homeownership and rental directors will discuss these questions as well as implementation of the
Local Government Preference system for 9% Housing Credits, the process for allocating 4% Housing
Credits on local HFA bond deals, Down Payment Assistance, policy changes related to this year’s
SAIL and Housing Credits, and legislative activities
Moderator: Jim Ryan, Board Chairman, Housing Finance Authority of Clay County &
FLALHFA Board Member
Panelists: Trey Price, Executive Director, Florida Housing Finance Corporation
Marisa Button, Director of Multifamily Programs, FHFC
Friday, July 9, 2021
Noon - 1:00 PM HFA Board Members: How to be an Effective Board Member of an HFA
This session focuses on how to be a better and more effective HFA Board member, rather than on
specific program details. It explores the proper “domain” of a Board and that of staff. Board members
have asked, “What exactly am I supposed to be doing as a Board member? Am I supposed to be an
expert on programs, or is that for staff only? How much can I rely on professionals and staff? Do I
have a fiduciary responsibility?”. What is the “Goldilocks” position between micromanaging staff and
professionals and being too hands off? This session will discuss preparation for each Board meeting,
financial statements, audits, expenditure policies, budgeting, multifamily policies, procurement, and
working with elected officials at the local and state level. Learn that “right” level of involvement, so
that you can be an effective board member.
Moderator: Debra Koehler, Board Member, Housing Finance Authority of Hillsborough County
Panelists: Gloria “Nadine” Carswell, Board Member, Jacksonville HFA
Dr. Jeffrey Sharkey, Board Secretary, HFA of Leon County
Educational Conference 2021 7
Tuesday, July 13, 2021
Noon - 1:00 PM Single Family: Past, Present and Future of Programs
This session will focus on how HFA programs worked in the past, how they work now, and how
they can be improved in the future. Also included will be how to have better outreach to minority
homebuyers, particularly Hispanic and African American—and how better to inform the public
about the programs. Another topic will be how to use eHousing’s website to identify details of who
your program serves and what type and cost of home are the buying.
Moderator: Sue Denihan, eHousing Plus
Panelists: Adela Garcia, Chief Financial Officer, HFA of Miami-Dade County
Karmen Lemberg, Director of Single Family Programs and Operations,
HFA of Pinellas County
Carla Webster, Marketing Manager, HFA of Miami-Dade County
Chip White, Homeownership Programs Administrator, FHFC
Thursday, July 15, 2021
Noon - 1:00 PM Multi-Family: Cutting Edge Topics Part II
Aren’t HFAs just “conduit issuers”, with little responsibility other than compliance with the tax
code when bonds are issued? How would that answer play with your local newspaper or County
Commission when a development your HFA financed was found to have an infestation of mice or
was abandoned halfway through construction? How does FHFC evaluate deals and what ongoing
monitoring do they require on their bond deals? With more deals coming forward, this means
competition for limited bond volume cap and the ability to require more of developers in terms of long-
term affordability and other public purpose items. All of this will require improved application and
evaluation systems. Is your system up-to-date, or was it written in the 1990’s and amended multiple
times so that it is redundant and internally inconsistent? Are you getting all you can from a developer
in terms of long-term affordability, development design and resident programs? again discuss methods
to make sure that costs are reasonable and prevent deals from being over-subsidized. As a Board
member, what is in a credit underwriting report and what should you focus on in the report? Why is
compliance monitoring critical and how can it provide protection for your residents and insulate the
HFA against political criticism of your HFA when a property you financed is poorly constructed or
managed? What do monitors monitor?
Moderator: Kathryn Driver, Executive Director, HFA of Pinellas County
Panelists: Marisa Button, Director of Multifamily Programs, FHFC
Mark Fredericks, Senior Vice-President Multifamily Services, AmeriNat
Barney Smith, Chairman, Jacksonville Housing Finance Authority &
Former Chairman, Florida Housing Finance Corporation
Friday, July 16, 2021
Noon - 1:00 PM Ethics & Sunshine
Annual update on new laws that impact Ethics, Sunshine, public records and special districts, along
with basic do’s and don’ts of behavior for Board and staff of HFAs. What can you say and when can
you say it to another Board member? Is it OK to accept that lunch invitation? What is a gift, and when
must they be disclosed? What is the difference between a voting conflict and a prohibited conflict?
How has COVID-19 impacted Sunshine laws and public meeting requirements, including HFA
meetings and TEFRA hearings? These and other ethics and sunshine topics will be covered, with
plenty of time for questions. Learn how to stay out of the news and out of legal trouble.
Co-Moderators & Panelists: Mary Helen Farris, General Counsel, HFA of Hillsborough County
Don Horn, Chairman, Miami-Dade HFA
8 Florida ALHFATuesday, July 20, 2021
Noon - 1:00 PM Housing Programs 101
This will be an updated version covering the basics of programs that HFAs administer, suitable
for both new and experienced HFA Board members and staff. Topics will include bond allocation,
TEFRA, credit underwriting, monitoring, non-bond single family programs, DPA assistance, the
role of various professionals, the difference between 9% and 4% Housing Credits, and others. This is
a forum to ask the questions you need answered about how programs work.
Moderator: Susan Leigh, Director, Florida ALHFA
Panelists: Rhonda Bond-Collins, Shareholder, Bryant Miller Olive
Ed Busansky, Vice-Chair, HFA of Hillsborough County
Tim Wranovix, Director National Housing Group, Raymond James
Friday, July 23, 2021
Noon - 1:00 PM HFA Journal Release and Discussion of Unique Programs
Local HFAs don’t just do bonds and single-family loan programs. With limited resources, both larger
and smaller HFAs have made an impact in their communities by being innovative and thinking outside
of the box. Learn how HFAs used HFA, SHIP and County funds to implement innovative programs.
The 6th Annual Florida ALHFA Journal, which compiles programs submitted by Florida ALHFA
members, will be released.
Moderator: Pat Lott, Executive Director, Escambia County HFA (invited)
Panelists: Susan Leigh, Director, Florida ALHFA
TBD
Tuesday, July 27, 2021
Noon - 1:00 PM Roundtable Discussions
HFA Open Forum: to discuss Conference and FLALHFA
Attorney Roundtable: to discuss issues related to HFA's legal issues that arise in their
representation of issuers, developers, or other professionals
CPA Roundtable: to discuss accounting and auditing issues related to their work with local HFAs
Educational Conference 2021 9GT Means go-to SMG
Seltzer Management Group, Inc.
2000 39 7
Locations Offices in Proud Sponsor of the
Attorneys Florida ALHFA 2021
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Greenberg Traurig is a service mark and trade name of Greenberg Traurig, LLP and Greenberg
Traurig, P.A. ©2019 Greenberg Traurig, LLP. Attorneys at Law. All rights reserved. Attorney
Advertising. °These numbers are subject to fluctuation. 32496
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Housing Finance Authority of Miami-Dade County
7855 NW 12th Street, Suite 202, Miami, Florida 33126
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Educational Conference 2021 11 SERVICE
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12 Florida ALHFAEducational Conference 2021 13
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14 Florida ALHFAEducational Conference 2021 15
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Single Family Financing: Multifamily Financing:
Mortgage Revenue Bonds FHA-Insured Mortgage Bonds
TEMS (Tax-Exempt Mortgage-Backed Securities) M-TEMS (Multifamily Tax-Exempt Mortgage-Backed Securities)
Tax-Exempt/Taxable Bonds Short-Term Cash-Collateralized Bonds
New Money/Refunding Bonds Rated/Unrated Unenhanced Multifamily Bonds
Whole Loans/MBS Security Multifamily Pool Securitizations
Single Issue/Parity Indentures Rental Assistance Demonstration (RAD) Financings
TBA and Specified Pool Markets Collateralized Forwards
Program Administration Workforce Housing Taxable Bonds
Michael Airhart Christopher Moriarty John Sabatier
(225) 421-2610 (212) 847-6610 (225) 421-2609
400 Convention Street, Suite 310 787 7th Avenue, 5th Floor 400 Convention Street, Suite 310
Baton Rouge, Louisiana 70802 New York, New York 10019 Baton Rouge, Louisiana 70802
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com
Affordable Housing
Construction
Environmental
Land Use & Zoning
Public-Private Partnerships
Real Estate Development & Financing
Tax Credit Equity &
Tax-Exempt Bond Closings
Bilzin Sumberg Baena Price & Axelrod LLP
1450 Brickell Avenue, 23rd Floor, Miami, Florida 33131-3456
305-374-7580 | bilzin.com
16 Florida ALHFA5403 West Gray Street | Tampa, FL 33609
Phone: (813) 288-6988
Fax: (813) 288-1511
SOUTHPORT FINANCIAL SERVICES, INC. is a multi-family affordable housing
developer based in Tampa, Florida, with headquarters in Tacoma, Washington.
Southport currently owns or has participation interest in 200 communities containing
over 20,000 units throughout the continental United States and Hawaii. Over 9,000
units in over 70 communities in Florida alone.
2020 AFFORDABLE HOUSING FINANCE TOP 50 RANKINGS
TOP NATIONAL OWNER 8th TOP NATIONAL DEVELOPER 37th
ATTENTION
FLORIDA BAR MEMBERS
A law firm dedicated to governmental
problem solving
Legal Education CLE’s are in the
approval process for participation
in the Florida ALHFA 2021
For more information please contact
Mark Mustian, Firm President, at Educational Conference. Please
(850) 224-4070 or visit our website at watch the website for further
www.ngnlaw.com
information regarding the number
of credits for specific required CLE
credits and how to submit the
information once approved. The
course work has been submitted to
the Florida Bar and we expect a
Representing Florida’s Counties for Over 35 Years
response within a few weeks.
TALLAHASSEE TAMPA PLANTATION
1500 Mahan Drive 2502 Rocky Point Drive 8201 Peters Road
Suite 200 Suite 1060 Suite 1000
Tallahassee, Florida 32308 Tampa, Florida 33607 Plantation, Florida 33324
T. 850.224.4070 T. 813.281.2222 T. 954.315.0268
Educational Conference 2021 17FLORIDA ALHFA: THE ORGANIZATION
Florida ALHFA was founded in 1982 as a Florida nonprofit corporation consisting of private and public
professionals dedicated to financing affordable single-family and multi-family housing in the State of Florida.
Florida ALHFAs Mission
▪ To provide learning and networking opportunities in an environment for local municipal bond issuers
and related professionals to share ideas and strategies for providing safe and affordable housing in our
communities.
▪ To evaluate, advocate, and support the enactment of State and Federal housing legislation and regulatory
policies which enhance local agency efforts to provide affordable housing opportunities for our citizens.
▪ To establish the importance of local housing finance authorities as equity participants and lenders and as
brokers between available resources and sponsors of affordable housing.
In the current environment, Florida ALHFA takes a more aggressive approach to legislative advocacy, and well
as helping members build better relationships with the governmental and private sectors players with which they
work.
Florida ALHFA is an advocate before the legislature and state agencies on legislative and regulatory issues
affecting affordable housing, and provides technical assistance and educational opportunities to its members and
the public. Members include County and City HFAs, developers (for-profit, non-profit, and public), and firms
providing services to local HFAs, such as investment bankers, credit underwriters, consultants, financial advisers,
and bond counsel.
Florida ALHFA advocates for the various programs such as tax exempt bonds, SAIL, SHIP, and provides
educational opportunities for the boards and staff of local HFAs and other members.
Florida ALHFA membership opportunities include:
▪ To provide learning and networking opportunities, including an annual conference for local HFAs and
related professionals to share ideas and strategies for providing affordable housing in our communities.
▪ To evaluate, advocate, and support the enactment of State and Federal housing legislation and regulatory
policies which enhance local agency efforts to provide affordable housing opportunities for our citizens.
▪ To establish the importance of local HFAs as both providers of finance and organizations that should be at
the table when state and community policy is decided.
Our legislative lobbying team works year-round with state legislators and state agencies to remove the obstacles
that prevent local HFAs and developers from providing affordable housing. Florida ALHFA not only serves as a
positive voice for affordable housing statewide, but also teaches members how to be effective housing advocates.
18 Florida ALHFA2020-2021
FLORIDA ALHFA BOARD MEMBERS
HARRY HEDGES ANGELA ABBOTT KATHRYN DRIVER
President Vice President Secretary Treasurer
HILLSBOROUGH COUNTY HFA BREVARD COUNTY HFA PINELLAS COUNTY HFA
HFA OF MANATEE COUNTY
WALT FERGUSON CHEREE GULLEY PAT LOTT
Board Member Board Member Board Member
HFA OF LEE COUNTY HFA OF MIAMI-DADE COUNTY ESCAMBIA COUNTY HFA
W. D. MORRIS RICHARD PIERRO JIM RYAN
Board Member Board Member Board Member
ORANGE COUNTY HFA HFA OF MANATEE COUNTY HFA OF CLAY COUNTY
Educational Conference 2021 19Jacksonville Housing Finance Authority
A Component Unit of the Consolidated City of Jacksonville, Florida
Welcome to the
2021 Florida Association of Local Housing Conference
Boarrd of Directoors:
Barney Smith, Chair
Spencer Cummings, Vice-Chair
Delilah “Dee” Bumbarger, Secretary
Gloria “Nadine” Carswell
Jeffrey Rosen
Jane Scofield
Matt Swanson
The Waves
Jacksonville Beach, Florida
Opening in 2021
JHFA Tax Exempt Bond
Former Public Housing
HUD RAD Transaction
Scattered Sites
-
127 Units
16 two story buildings
154,835 total square feet
Vestcor, Developer
Jacksonville Housing
Authority, Owner
j y
20 Florida ALHFAFlexible, low down payment mortgages
Discover the possibilities with
Freddie Mac HFA Advantage®
Maximize financing for:
First-time and repeat buyers
Purchase and no cash-out refinance borrowers
Low- to moderate-income borrowers
Learn more at
FreddieMac.com/singlefamily/hfa.html
Committed to excellence
in client service
Serving the State from Offices in and our profession
Orlando ▪ Tampa ▪ Sarasota
Melbourne ▪ Fort Lauderdale
Financing for community development Tireless advocacy, business sense, and working side by side with
clients toward the same goals – that is the character of who we are.
www.FCLF.org 407.246.0846 A full-service law firm with a national footprint, we offer deep
affordable housing and tax experience from a multidisciplinary
team to clients spanning all facets of the industry. Nelson Mullins
is a leader within the profession, and we are committed to serving
the public welfare.
25 100+ 800+
Offices located in 11 states Strong commitment Attorneys and Government
and Washington, D.C. Practice Areas to leadership & service Relations Professionals
Put our flexible financing Nelson Mullins Riley & Scarborough LLP David F. Leon, Partner
Attorneys and Counselors at Law 390 North Orange Avenue
and expertise to work for you. nelsonmullins.com | T: 407.839.4200 Suite 1400 | Orlando, FL 32801
Educational Conference 2021 21ADVANCING
A F FO R D A B L E
For over 50 years, HilltopSecurities has helped HFAs make
housing more affordable in their communities. Our work in
single- and multi-family transactions has earned us a strong
HOUSING reputation with agencies across the country.
Find out how our experienced housing professionals can
help your agency pursue its definition of success.
For more information, contact:
Timothy Nelson Claire Merritt
512.481.2022 512.481.2044
©2021 HilltopSecurities Inc. All rights reserved. H I L LT O P S E C U R I T I E S . C O M
MEMBER: NYSE/FINRA/SIPC HTS699869633
“The test of our progress
is not whether we add
Our Clients, Our Team, more to the abundance of
Our Commitment to those who have much
Florida Communities it is whether
we provide enough
for those who have little.”
- Franklin D. Roosevelt
We Agree.
With a large workload and minimum staff, many Florida
Communities face the need for a strategic investment
partner to help the entities maximize their potential.
FLSAFE STABLE & VARIABLE FIXED RATE INVESTMENTS
LGIP FUNDS, AAA RATINGS FREE CASH FLOW
MAXIMIZE INTEREST INCOME MANAGEMENT Stearns Weaver Miller
FREE INVESTMENT POLICY INVESTMENT ADVISORY proudly supports the
GUIDANCE SERVICES
Florida Associa�on
BANKING AND CASH
MANAGEMENT
CONTINUING EDUCATION
CREDITS (CPE)
of Local Housing
Finance Authori�es.
Rene’ O’Day roday@pmanetwork.com | Jeff Kern jkern@pmanetwork.com Brian McDonough Richard Deutch Pa�y Green Brooke Perlyn Kearey Wan
www.flsafe.org | www.pmanetwork.com Adolfo Deulofeut Laura Balard Lise�e Mar�nez Taylor Yawney
© 2021 PMA Financial Network, LLC.
22 Florida ALHFABUILDING COMMUNITIES ONE HOMEOWNER AT A TIME….
In Partnership with:
Alachua County Board of County Commissioners
Alachua County Housing Finance Authority Bay County Board of County Commissioners
Leon County Housing Finance Authority Bradford County Board of County Commissioners
Marion County Housing Finance Authority Escambia County Board of County Commissioners
St. Lucie County Housing Finance Authority Franklin County Board of County Commissioners
Gulf County Board of County Commissioners
Gadsden County Board of County Commissioners
Hernando County Board of County Commissioners
Indian River County Board of County Commissioners
Serving 1st Time Home- Jackson County Board of County Commissioners
buyers throughout Florida Jefferson County Board of County Commissioners
since 1982 Leon County Board of County Commissioners
Madison County Board of County Commissioners
Marion County Board of County Commissioners
Martin County Board of County Commissioners
Associate Member of : Okaloosa County Board of County Commissioners
Santa Rosa County Board of County Commissioners
St. Lucie County Board of County Commissioners
Taylor County Board of County Commissioners
Wakulla County Board of County Commissioners
Walton County Board of County Commissioners
Educational Conference 2021 23THE HOUSING FINANCE AUTHORITY OF
HILLSBOROUGH COUNTY IS
Opening Doors
to Affordable Housing
For more than 30 years, the Hillsborough HFA has been helping
residents afford a place to call home.
We provide:
• Mortgages and Down Payment Assistance for First-Time Home buyers
• Financing for the construction and/or acquisition
and rehabilitation of apartments for working
families and the elderly
• Rental assistance to homeless families
transitioning out of homelessness back
into the workforce
• Rental assistance to youth aging out of
foster care
• Support of the Sadowski Education Effort
Learn more about how we’re addressing
the affordable housing shortage in our
county at: hillsboroughcountyhfa.org
24 Florida ALHFAThe Housing Finance Authority of Pinellas County
is proud to support the
2021 Florida ALHFA Conference
www.pinellascounty.org/hfa
Kathryn Driver: (727) 223-6418 or kdriver@pinellashfa.com
Karmen Lemberg: (727) 223-6419 or klemberg@pinellashfa.com
Lolitha Stone: (727) 300-0819 or lstone@pinellashfa.com
Educational Conference 2021 2526 Florida ALHFA
THANK YOU FLORIDA ALHFA
THANK
FOR YOURYOUSUPPORT
FLORIDAOF ALHFA
THE
THANK
FOR YOURYOUSUPPORT
FLORIDAOF ALHFA
THE
SADOWSKI EDUCATION EFFORT!
FOR YOUREDUCATION
SADOWSKI SUPPORT OF THE
EFFORT!
SADOWSKI EDUCATION
YOUR PARTICIPATION EFFORT!
MADE A DIFFERENCE
YOUR PARTICIPATION MADE A DIFFERENCE
Bank
Bank of America
of America Jacksonville
Jacksonville HFA HFA
YOUR PARTICIPATION MADE ALee
HFA DIFFERENCE
HFA
HFA
Bank of
of Brevard
ofBrevard County
AmericaCounty HFA of
HFA of Leeof Lee County
County
County
HFA of
HFA
HFA of Broward
of Broward County
County
Brevard County HFA HFA
HFA of
of Leon
Leon County
ofCounty
Leon
CountyCounty
Bank
HFA of
of America
Clay County HFA
HFA of
of Lee
Manatee County
HFA
HFA ofof
Broward
Clay County
County HFA of Manatee
HFA of County
Manatee County
HFA of Brevard County HFA of
HFA of Leon County
Escambia
HFA County
of Clay HFA
County HFA of Miami-Dade
Miami-Dade County
County
HFA of Broward County HFA
HFAofofManatee County
Miami-Dade
Escambia
Florida
Escambia County
ALHFA
County HFA
HFA Orange
Orange County
County HFA County
HFA
HFA of Clay County HFA of Palm
Miami-Dade
HFA Orange
of Beach County
Florida Housing
Florida
Florida ALHFA Coalition
ALHFA Osceola County HFACounty
County HFA
Escambia County HFA Orange
HFA of County HFA
HFA of Hillsborough
Florida County
Housing Coalition HFA of Pinellas County
Palm Beach
Osceola CountyCounty
Florida
FloridaHousing
ALHFA Coalition Osceola County HFA HFA
HFA of Hillsborough County HFA of Pinellas County
HFAFlorida
of Housing Coalition
Hillsborough County HFA
HFAofofPalm
PalmBeach
BeachCounty
County
JacksonvillePLEASE
HFA CONTRIBUTE
HFA of Hillsborough County
NOW
HFA of Pinellas County
TO CONTINUE HFA of Pinellas County IN 2020
THE EFFORT
Jacksonville HFA
PLEASE CONTRIBUTE NOW
TO CONTINUE THE EFFORT
PLEASE CONTRIBUTE IN 2022
NOW
2020 THE
TO CONTINUE Contributions:
EFFORT IN 2022
Checks should be made out to “Sadowski Education Effort” and
mailed to: 2022 Contributions:
Checks should be made out to “Sadowski Education Effort” and
Florida to:
ALHFA 2022 Contributions:
mailed
Checks should
1404 Alban be made out to “Sadowski Education Effort” and
Avenue
mailed to:
Tallahassee, Florida 32301
Florida ALHFA
1404 Alban Avenue
Florida ALHFA
Tallahassee, Florida 32301
1404 Alban Avenue
Tallahassee, Florida 32301
Educational Conference 2021 27PROJECTED SHIP ESTIMATES FOR FY 2021-22
($146,700,000)
COUNTY COUNTY COUNTY
LOCAL COUNTY LOCAL COUNTY LOCAL COUNTY
SHARE/ SHARE/ SHARE/
GOVERNMENT TOTAL GOVERNMENT TOTAL GOVERNMENT TOTAL
CITY SHARE CITY SHARE CITY SHARE
ALACHUA 1,809,919 909,665 GILCHRIST 350,000 350,000 PALM BEACH 9,669,382 7,311,986
Gainesville 900,254 GLADES 350,000 350,000 Boca Raton 627,543
BAKER 350,000 350,000 GULF 350,000 350,000 Boynton Beach 517,312
BAY 1,168,009 936,860 HAMILTON 350,000 350,000 Delray Beach 442,858
Panama City 231,149 HARDEE 350,000 350,000 West Palm Beach 769,683
BRADFORD 350,000 350,000 HENDRY 350,000 350,000 PASCO 3,586,915 3,586,915
BREVARD 4,009,629 2,218,929 HERNANDO 1,277,607 1,277,607 PINELLAS 6,498,996 3,371,679
Cocoa 127,907 HIGHLANDS 710,064 710,064 Clearwater 779,230
Melbourne 557,739 HILLSBOROUGH 9,751,588 7,160,591 Largo 558,264
Palm Bay 783,482 Tampa 2,590,997 St. Petersburg 1,789,823
Titusville 321,572 HOLMES 350,000 350,000 POLK 4,725,906 3,692,823
BROWARD 12,730,225 2,282,529 INDIAN RIVER 1,066,250 1,066,250 Lakeland 722,118
Coconut Creek 386,999 JACKSON 350,000 350,000 Winter Haven 310,965
Coral Springs 851,652 JEFFERSON 350,000 350,000 PUTNAM 498,707 498,707
Davie 692,524 LAFAYETTE 350,000 350,000 ST. JOHNS 1,739,458 1,739,458
Deerfield Beach 528,304 LAKE 2,428,342 2,428,342 ST. LUCIE 2,134,779 496,122
Fort Lauderdale 1,247,562 LEE 4,956,845 3,107,941 Fort Pierce 294,600
Hollywood 1,000,596 Cape Coral 1,237,229 Port St. Lucie 1,344,057
Lauderhill 477,383 Fort Myers 611,675 SANTA ROSA 1,230,633 1,230,633
Margate 390,818 LEON 1,993,884 671,540 SARASOTA 2,901,936 2,520,331
Miramar 915,303 Tallahassee 1,322,344 Sarasota 381,605
Pembroke Pines 1,112,622 LEVY 350,000 350,000 SEMINOLE 3,156,362 3,156,362
Plantation 598,321 LIBERTY 350,000 350,000 SUMTER 937,070 937,070
Pompano Beach 744,718 MADISON 350,000 350,000 SUWANNEE 350,000 350,000
Sunrise 621,235 MANATEE 2,643,632 2,254,754 TAYLOR 350,000 350,000
Tamarac 435,374 Bradenton 388,878 UNION 350,000 350,000
Weston 444,285 MARION 2,432,247 2,022,413 VOLUSIA 3,641,700 2,559,751
CALHOUN 350,000 350,000 Ocala 409,834 Daytona Beach 463,588
CHARLOTTE 1,254,120 1,117,923 MARTIN 1,081,899 1,081,899 Deltona 618,361
Punta Gorda 136,197 MIAMI-DADE 11,842,098 7,613,284 WAKULLA 350,000 350,000
CITRUS 999,694 999,694 Hialeah 1,003,026 WALTON 510,450 510,450
CLAY 1,461,572 1,461,572 Miami 2,081,841 WASHINGTON 350,000 350,000
COLLIER 2,561,427 2,422,085 Miami Beach 393,158 TOTAL 140,769,650 140,769,650
Naples 139,342 Miami Gardens 478,421
COLUMBIA 479,125 479,125 Disaster Relief Holdback 5,000,000
North Miami 272,368
DE SOTO 350,000 350,000 Compliance Monitoring 366,750
MONROE 526,099 526,099
DIXIE 350,000 350,000 Catalyst 563,600
NASSAU 604,372 604,372
DUVAL 6,487,253 6,487,253 TOTAL APPROPRIATION 146,700,000
OKALOOSA 1,355,879 1,215,817
ESCAMBIA 2,146,523 1,778,609 Fort Walton Beach 140,062
Pensacola 367,914 OKEECHOBEE 350,000 350,000
FLAGLER 764,849 165,743 SHIP allocation based on Conference
ORANGE 9,332,778 7,361,695 Committee as of 04/26/2021
Palm Coast 599,106 Orlando 1,971,083 (Less: $5 million DR holdback,
FRANKLIN 350,000 350,000 Monitoring & Catalyst)
OSCEOLA 2,561,427 2,060,924
GADSDEN 350,000 350,000 Kissimmee 500,503
28 Florida05.2021
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Past performance is not indicative of future results. 21-PF-1042 JPR 5/21
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