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BREVARD COUNTY HOUSING FINANCE AUTHORITY SINGLE FAMILY MORTGAGE CREDIT CERTIFICATE PROGRAM AVAILABLE TO RESIDENTS OF BREVARD COUNTY

The Brevard County Housing Finance Authority (the “Issuer”), hereby announces the continuation of its program to reduce home loan financing costs within Brevard County, Florida. The Issuer has established a mortgage credit certificate program which will entitle first-time homebuyers to a federal income tax credit (the “Program”). A tax credit is a direct reduction of taxes due. Under the Program, homebuyers would receive a mortgage credit certificate entitling such homebuyers to reduce their taxes by ten percent (10%) to fifty percent (50%) (such percentage to be determined by the Issuer) of the amount of interest paid on their home loan (not to exceed $2000 per year if the credit percentage exceeds 20%). The tax credit is available each year that the borrower continues to live in the home financed under the Program.

In order to qualify for the Program, federal law requires that a homebuyer satisfy each of the following guidelines:

1. Principal Residence. The homebuyer must occupy the home financed under the Program as his/her principal residence within a reasonable period, not to exceed 60 days, after the financing is provided. A principal residence is a home occupied primarily for residential purposes. A principal residence does not include a home used as an investment property, as a recreation home or a home 15 percent or more of the total area of which is used in a trade or business.

2. First-Time Homebuyer. Each homebuyer must be a first-time homebuyer. Any person who has not owned his/her principal residence at any time during the three years prior to closing a loan financed in connection with the Program is considered a first-time homebuyer. This requirement does not apply to loans in certain areas designated as targeted areas (collectively, the “Targeted Area”).

3. Purchase Price. Under the Program, the purchase price for residences may not exceed 90 percent (110 percent with respect to residences located in Targeted Areas) of the average area purchase price applicable to the residence. For this purpose, the "average area purchase price" is based upon the average purchase price of single family residences determined pursuant to applicable federal law with respect to both new and existing one, two, three and four unit residences. The current maximum purchase prices for homes in Brevard County under the Program are as follows:

New and Existing Homes
Non-Targeted Areas $294,601
Targeted Areas $360,067

These limitations are subject to adjustment periodically.

4. New Mortgage. The mortgage loan financed in connection with the Program is required to be a new mortgage loan and may not replace a prior mortgage loan on the home (whether or not previously repaid).

5. Income. Under the Program, the maximum family income for households may not exceed 115 percent (140 percent with respect to residences located in Targeted Areas) of the applicable median family income. For a family of 2 or fewer persons, the maximum family income may not exceed 100 percent (120 percent with respect to residences located in Targeted Areas) of the applicable median family income. The current limits on annual gross income for households in Brevard County under the Program are as follows:

Non-Targeted Areas:
Families of 2 or Less $69,480
Families of 3 or More $79,902

Targeted Areas:
Families of 2 or Less $83,376
Families of 3 or More $97,272

These limitations are subject to adjustment periodically. Gross income includes salary and wages, including overtime, as well as dividends, alimony, public assistance, social security, unemployment compensation and investment income.

6. One- to Four-Family Home. The residence financed in connection with the Program must be a one- to four-family residence. A one-family residence includes a detached home, one unit of a duplex, a townhouse or a condominium unit. Manufactured housing or mobile homes qualify only if the unit has at least 400 square feet of living space, if it is more than 102 inches wide and if it is of a kind customarily used at a fixed location. If the residence is a two- to four-family residence, one unit of the residence must be the principal residence of the owner of the units and (with limited exceptions) the residence must have been first occupied for residential purposes at least five years prior to closing the loan financed in connection with the Program. Land adjoining the home is considered part of the home only if it maintains the home's livability and is not, other than incidentally, a source of income to the owner.

7. Program Area. In order to be eligible for a certificate, the home financed in connection with the Program must be located in Brevard County.
Under the Program, mortgage credit certificates will be issued to eligible borrowers on a first-come, first-served basis. The certificates are available in connection with any type of mortgage loan (except loans from tax-exempt bond programs), including fixed rate and adjustable rate mortgages. Any lending institution is eligible to provide mortgage loans in connection with the Program.

This notice contains only a summary of the requirements under the Program. Applications and more detailing information about the Program are available at the address listed below.

eHousingPlus
3050 Universal Boulevard, Suite 190
Weston, Florida 33331
Attention: Sue Denihan
Phone: (813) 579-6293
email: sue@ehousing.cc

NOTICE OF 2021 PUBLIC MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Brevard County Housing Finance Authority will meet on the following dates in 2021 in the Lecture Room of the Brevard County Agricultural Center, 3695 Lake Drive, Cocoa, Florida, at 3:00 p.m. to discuss matters of the Authority as it deems appropriate. All interested parties are invited to attend.

Wednesday, January 27, 2021
Wednesday, February 24, 2021
Wednesday, March 24, 2021
Wednesday, April 28, 2021
Wednesday, May 26, 2021
Wednesday, June 23, 2021
Wednesday, August 25, 2021
Wednesday, September 22, 2021
Wednesday, October 27, 2021
Wednesday, December 1, 2021

Persons are advised that, if they decide to appeal any decision made at any of these meetings, they will need a record of the proceedings, and for such purposes they may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. The needs of hearing or visually impaired persons shall be met if the contact person below is notified at least 48 hours prior to the meeting by any person wishing assistance.

For further information contact Angela A. Abbott, Attorney for the Authority, 4420 South Washington Avenue, Titusville, FL 32780 (321) 264-0334.

BREVARD COUNTY HOUSING FINANCE AUTHORITY

NOTICE OF PUBLIC MEETING

NOTICE IS HEREBY GIVEN that the Brevard County Housing Finance Authority (the “Authority”) will hold a public meeting on Wednesday, December 2, 2020, in the Lecture Room of the Brevard County Agricultural Center, 3695 Lake Drive, Cocoa, Florida, at 3:00 p.m. to discuss matters of the Authority as it deems appropriate. All interested parties are invited to attend in person or by conference call by dialing 1-866-569-3761; passcode 8537016177.

Persons are advised that, if they decide to appeal any decision made at this meeting, they will need a record of the proceedings, and for such purposes they may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based.

According to requirements of the American Disability Act (ADA), organizations using library meeting rooms may be required to provide special accommodations for those citizens requesting assistance within 48 hours of the scheduled meeting time. The needs of hearing or visually impaired persons, or those requiring special arrangements, shall be met if the Authority is contacted at least 48 hours prior to the public meeting by any person requiring assistance.

For further information contact Angela A. Abbott, Attorney for the Authority, 4420 South Washington Avenue, Titusville, FL 32780 (321) 264-0334.

BREVARD COUNTY HOUSING FINANCE AUTHORITY

Final Budget for FY 20-21

Click to download the Final Budget for FY 20-21

Amended Budget for FY 19-20

Click to download the Amended Budget for FY 19-20

Proposed Budget for FY 20-21

Click to download the Proposed Budget FY 2020-2021, Brevard County Housing Finance Authority

Proposed Amended Budget for FY 19-20

Click to download the Proposed Amended Budget for FY 19-20, Brevard County Housing Finance Authority

Funding Availability

Click to download the 2019 Mini-Application

Click to download the Multifamily Revenue Bond Program Guidelines For Bond Issues

Click to download the Brevard County Housing Finance Authority Multifamily Revenue Bond Program Application

Click to download the Exhibit List for Brevard HFA 2018 Bond Application

Click to download the Exhibit IV - 1, 2 & 3

Final Budget FY 2019-2020

Click to download the Final Budget FY 2019-2020, Brevard County Housing Finance Authority

Proposed Budget FY 2019-2020

Click to download the Resolution Adopting the 2019-2020 Budget for the Brevard County Housing Finance Authority

Final Budget FY 2018-2019

Click to download the Final Budget FY 2018-2019

Proposed Budget for FY 2018-2019

Click to download the Proposed Budget for FY 2018-2019

Final Budget FY 2017-2018

Click to download the Final Budget FY 2017-2018

Proposed Budget for FY 2017-2018

Click to download the Proposed Budget FY 2017-2018

Meeting Schedule

Click to download the 2020 Meeting Schedule
Click to download the 2019 Meeting Schedule
Click to download the 2018 Meeting Schedule
Click to download the 2017 Meeting Schedule

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The Authority

Authority Contact:
Angela A. Abbott, Attorney
Brevard County Housing Finance Authority
4420 S. Washington Avenue
Titusville, FL 32780
(321) 264-0334 Phone
(321) 269-6840 Fax
Email: angelaabbott@cfl.rr.com

Bond issue trustee:
Thomas (Tom) C. Alderson, III
Vice-President/Relationship Manager
1 Independent Drive, Suite 620
Jacksonville. FL 32202
904-351-7256 Phone
904-351-7266 Fax
Email: Thomas.C.Alderson@wellsfargo.com

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