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Florida Approves $100 Million for HHHP in 2024

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David Brierton

David Brierton

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Florida Approves $100 Million for HHHP in 2024

The bill, a top legislative priority for Florida Realtors in 2024, also incorporates revisions to the Live Local Act. Funding for the Hometown Heroes Housing Program starts on July 1st.

Governor Ron DeSantis of Florida has signed into law a significant bill that enhances the Live Local Act of 2023. This legislative update, which was a top priority for the Florida Realtors in 2024, allocates an additional $100 million to bolster the Hometown Heroes Housing Program (HHHP). This initiative aims to provide zero-interest loans for down payments and closing costs to full-time employed Floridians who meet specific income criteria.
The HHHP has proven immensely popular since its inception, depleting its initial funding in less than two months. The infusion of $100 million into the program is set to become available starting July 1. In addition to enhancing the HHHP, the new legislation includes modifications to last year’s Live Local Act. These changes empower local governments by allowing them greater flexibility to encourage and expedite the development of affordable housing. Specifically, the updated law:

  • Adjusts parking requirements for qualifying developments, mandating that local governments reduce parking needs by 20% under certain conditions.
  • Amends provisions related to zoning and land use, particularly regarding the approval process for affordable multifamily rental developments.
  • Affirms that local governments retain the authority to grant bonuses, variances, conditional uses, or special exceptions for height, density, or floor area ratio, alongside required entitlements.

Furthermore, the bill appropriates $100 million in nonrecurring funds from the General Revenue Fund to the Florida Housing Finance Corporation, aimed at implementing the Florida Hometown Heroes Program.
This legislative action underscores Florida’s commitment to expanding access to affordable housing and supporting its workforce, particularly those deemed essential or critical in public service roles.

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