CWHIP promotes the creation of public-private
partnerships to finance, build and manage workforce
housing and requires the coordinated efforts
of all levels of government as well as private sector developers,
financiers, business interests and service providers.
CWHIP encourages the pooling of local resources, local
regulatory incentives, including land use strategies and
non-traditional sources of local funding.
CWHIP partnerships must involve at least one public sector
entity and one private sector for-profit or nonprofit entity.
CWHIP will provide flexible funding toward the construction
or rehabilitation of housing in the form
of loans with interest rates of one percent to three percent,
which may be forgivable if the housing
meets long term affordability requirements.
CWHIP provides that any plan amendments certified by the
local government as CWHIP amendments will receive 30-day
expedited review by the Florida Department of Community
Affairs (DCA), and may proceed straight to adoption rather
than through the multi-step process now required by DCA.
Eligible Residents
At least 50 percent of the affordable housing
units built using CWHIP funds should be set aside for essential
services personnel. Essential services personnel will be
defined by local governments in their State Housing
Initiatives Partnership (SHIP) program
plans, however, they could include teachers, educators,
police and fire personnel, health care workers, skilled
building trades personnel, and others.
80 percent of the units built using CWHIP funds should
be available to households earning incomes up to 140 percent
of area median income (AMI). This program
may serve a broad range of incomes up to 140 percent of
AMI.
Homeownership and rental housing,
which may be in a mixed use and/or scattered site setting.
Developments that have at least 15 percent
of the total development costs granted or donated.
Developments in neighborhoods close to
employers, services and transportation.
