Housing Finance Authority

Multifamily Revenue Bond Financing Program

How to Apply

The Housing Finance Authority (HFA) has as one of its purposes the provision of housing opportunities at rents affordable to persons or families of low and moderate income.  To this end, the Multifamily Revenue Bond Financing Program was developed to stimulate the production of affordable housing by providing low interest loans for developers who will produce new or rehabilitated housing.

The Authority has issued an aggregate principal amount of over $803 million in revenue bonds for the purpose of financing and refinancing multi-family rental housing projects for low, moderate or middle income families. Developers receive low-interest loans to produce affordable housing.

To date, the Authority has financed 74 multi-family projects within Miami-Dade County, 47 of which are currently active.

The program is intended to:

• Encourage the acquisition, construction, renovation and rehabilitation of housing and of the real and personal property and other facilities necessary and incidental;
• Through the use of Multifamily Revenue Bonds, provide bond financing for qualified multifamily rental housing developments which meet the goals of the HFA and comply with applicable federal and state laws;
• Provide affordable housing in areas of the County which demonstrate need but have a lower saturation of affordable housing.

The HFA's MRB Program can be combined with other financing including second mortgage programs, local and state grants and the Low Income Housing Tax Credit Program. All secondary financing must be arranged by the Developer.