Developers

The Escambia County Housing Finance Authority (the “Authority”) provides below market rate loans of bond proceeds for construction, rehabilitation and permanent financing and is authorized to issue both governmental and private activity bonds to achieve its mission of alleviating the shortage of affordable housing to persons and families by generating affordable capital for investment in multi-family rental properties in Florida Counties thereby stimulating economic development and creating or preserving and improving affordable housing and creating jobs.  The Authority may issue bonds to finance any multi-family project in Florida pursuant to an Interlocal Agreement with the applicable county or housing finance authority in which a proposed project is located. 

The Authority is now accepting applications for consideration of providing tax-exempt revenue bond financing for qualified multi-family housing developments which meet the goals of the Authority and comply with applicable federal and state law.  To the extent private activity bond volume cap is required, for the Authority may apply for allocations of private-activity “Bond Volume Cap Allocation” from the State Board of Administration on or after the first business day of January through June 30^th of each year.  In no event shall the multi-family bonds issued by the Authority ever be secured by public revenues.  The Authority is merely a conduit and shall not be liable on any bonds.  The security for the bonds, including the source of revenue for repayment of the Bonds, will be provided and pledged by the applicant pursuant to a trust indenture and loan agreement, unless otherwise expressly approved by the governing board of the Authority for good cause shown.

Applications may be submitted Monday through Friday from September 1st to June 20th of each year.  Applications approved by the Authority will be submitted to the Division of Bond Finance with a request for Private Activity Bond Volume Allocation.  All applications must be complete and all applicable fees paid at the time of submission to the Authority. 

Questions relating to the application and the policies of the Authority should be directed to Mr. Elbert Jones Jr, Executive Director at 850-432-7077 or elbertjones@escambiahfa.com, and no other persons unless otherwise authorized by Mr. Jones.

Acceptance of an application by the Authority only commits the Authority to consider the proposed development and financing and does not create any rights in favor of the applicant.  All proposed developments will be assessed by the Authority’s Financial Advisor who shall prepare a report for the Authority that details a development’s financial feasibility, ability to proceed, public purpose and other selection factors as described herein.  Each development financed by the Authority, in whole or in part, will not interfere with but rather will contribute to the housing stock, housing market and economic stability of the applicable county and must satisfy all applicable state and federal requirements

The Authority may waive specific provisions of these guidelines where good cause is shown and adequate supporting documentation is provided.  Likewise, the Authority reserves the right to impose additional requirements on any particular development.  Any waiver is at the sole discretion of the Authority.  These policies and procedures may be amended, revised, repealed or otherwise altered by the Authority with or without cause and without notice.