Local Government Area of Opportunity Loan for Multi-Family Rental Housing

The County of Volusia is soliciting proposals for a Local Government Area of Opportunity (LGAO) loan to support the development of one affordable, multi-family rental housing construction or rehabilitation project. The project must be located in Volusia County, excluding the cities of Daytona Beach and Deltona. The county has $460,000 in State Housing Initiatives Partnership Program (SHIP) funds available for this loan, structured as a 50-year deferred, forgivable loan with 0% interest. The awarded project must provide ten SHIP-assisted units for very low-income households, restricted to occupancy for at least fifty years. The award is contingent upon the applicant's project being approved for Housing Credits (HC) financing by the Florida Housing Finance Corporation (FHFC) through Request For Applications (RFA) 2026-201.