CONSOLIDATED PLAN & STRATEGY 5-YEAR ... - City of Lakeland

there were 201 families on the waiting list for a Housing Choice Voucher. LHA has
also developed a homeownership program using their Housing Choice Vouchers to
assist first-time homeowners with their monthly homeownership expenses.
The City of Lakeland – The resources available to the City of Lakeland range from
entitlement funding provided by the federal government, state resources allocated or
available to local jurisdictions, and locally developed resources through the targeting
of specific areas. The City of Lakeland is an entitlement community and receives
from the U.S. Department of Housing and Urban Development (HUD) an annual
allocation of Community Development Block Grant (CDBG) and HOME Investment
Partnership (HOME) funds. The City of Lakeland was awarded its first HOPWA funds
in 2005. HUD determines the amount of each grant by a formula which uses several
objective measures of community needs, including the extent of poverty, population,
housing overcrowding, age of housing, and population growth lag in relationship to
other metropolitan areas. Homeless organizations within Lakeland have applied for
and received funding through the McKinney-Vento Homeless Assistance Act
Continuum of Care program for the last several years. Lakeland is unsure if the State
will allocate State Housing Initiatives Partnership (SHIP) funds through Florida
Housing Finance Corporation due to the its reduction in budget.
Florida Housing Finance Corporation (FHFC) -- FHFC offers a number of different
products on an application basis to support the development of affordable housing,
including 9% and 4% low income housing tax credits (LIHTCs), a State Apartment
Incentive Loan (SAIL) program, historic tax credits, mortgage revenue bonds,
Community Contribution Tax Credits (CCTC), and a predevelopment loan program.
Various developers have utilized these resources in Lakeland. FHFC also offers a
number of homeownership loan products to both home buyers and developers of
homeownership units.
Private and Nonprofit Organizations
The Keystone Challenge Fund -- The Keystone Challenge Fund is a non-profit
corporation established in 1991 with a primary purpose to operate for the
advancement of affordable housing. Keystone’s mission is to provide homebuyer
education and affordable financing to low and moderate income homebuyers.
Keystone administers home purchase assistance loan processing for Polk County, the
City of Lakeland, and the City of Winter Haven. HOME funds provide down payment
and/or closing cost assistance to eligible homebuyers who have secured affordable
first mortgage financing. Keystone is a HUD approved non-profit organization
qualified to provide secondary financing for FHA-insured mortgage loans. Keystone is
also a Community Housing Development Organization (CHDO), and develops newly
constructed homes for sale to low income homebuyers.
Developers –- experienced nonprofit and for profit organizations develop housing
affordable to lower income households within the city limits of Lakeland. Many local
developers have participated in the development of affordable housing units.
Lakeland Habitat for Humanity -- Lakeland Habitat for Humanity was founded in
January 1990. Lakeland Habitat for Humanity is a nonprofit, ecumenical Christian
housing ministry building affordable house for in need. Shelter is a basic human
need. By investing themselves in the building process, homeowners gain selfreliance,
self-esteem and new skills. As the crushing cycle of poverty is broken, their
3-5 Year Strategic Plan 15