Topic: Affordable Housing

House and Senate budget negotiators have agreed to $167.7 million in funding for affordable housing programs next fiscal year. The figure is more for the programs than in recent years, but $58.5 million will swept from the affordable housing trust fund.

The House proposal would sweep $136.8 million in affordable housing trust funds to pay for other items in the budget. The Senate, however, would use all $226.1 million in projected trust fund money for affordable housing projects.

Groups are hoping to keep funds originally dedicated for affordable housing programs in those programs this year. But lawmakers have swept those funds into general revenue more often than not over the last decade, and despite a large surplus this year the trust fund will be competing with other plans for tax cuts and spending increases in other areas.

Statewide home and condo sales and prices posted positive numbers last month despite strong headwinds from the federal government shutdown and new fears over spiking flood insurance premiums. In areas such as Miami and Tampa, which will be affected most by the sharp increase in flood rates, prices rose but overall sales could be waning. ... Related Research: Nov. 20, 2013 Florida Realtors press release, "Fla.'s Housing Market Continues Positive Track in Oct. 2013."

After declining this summer, initial foreclosure proceedings swelled in October and rose 36 percent in Florida.

The $200 million spending plan will mostly be used in affordable housing programs and funding to address the foreclosure case backlog in the court system. ... Related Research: Press releases from Attorney General Pam Bondi and Senate President Don Gaetz.

Sales of existing single family homes and condos jumped up last month, but were heavily reliant on cash deals, suggesting the housing recovery is heavily reliant on investors.

The money from a foreclosure fraud settlement with some of the nation's largest banks will go to affordable housing programs, Habitat for Humanity, legal aid to counsel those in foreclosure and funding for the court system to address the backlog of foreclosure cases.

HB 87 to speed up the foreclosure process passed on a vote of 87-26. A similar bill passed the House last year but didn't make it through the Senate.

The Senate inserted money for House preferences such as Habitat for Humanity and college dorm plans, but stood firm on funding for affordable housing programs as it advanced SB 1852, which spends $200 million in foreclosure settlement funds.

There was one foreclosure filing for every 104 housing units in Florida through the first three months of the year. ... Related Research: April 9, 2013 RealtyTrac Report: "U.S. Foreclosure Starts Edge Higher For Second Straight Month in March as Bank Repossessions Continue to Drop"

The Orlando Democrat speaks out against the expedited foreclosure bill, and Senate Democrats unveil their own plan to spend $200 million in foreclosure fraud settlement funds.

The two chambers have different spending plans for $200 million from a foreclosure fraud settlement agreement.

HB 87 continues its progress in the House as Florida's court system asks a Senate panel for more funding to help clear the glut of foreclosures stuck in the system. ... Related Research: March 6, 2013 meeting materials from the House Justice Appropriations Committee and Senate Appropriations Subcommittee.