LTC 456-2023 First-Time Homebuyer Program Applicant UpdateMIAMI BEACH
OFFICE OF THE CITY MANAGER
NO. LTC # 456-2023 LETTER TO COM MISSION
TO:
FROM:
Honorable Mayor Dan Gelber and Members of the City Commission
Alina T. Hudak, City Manag�
October 13, 2023 lJI' •• DATE:
SUBJECT: First-Time Homebuyer Program Applicant Update
The purpose of this Letter to Commission ("L TC") is to advise of the income eligibility
and application approval of a First-time Homebuyer Program Applicant for the purchase
of a condominium unit located at 1557 Meridian Avenue, Unit 106, Miami Beach, FL
33139.
The household is income-eligible to receive down payment assistance funding from the
HOME Investment Partnership (HOME) and Statewide Housing Initiatives Partnership
(SHIP) first-time homebuyer programs. The household will receive $107,949.70 in
assistance including $40,000 from FY 20/21 HOME and $67,949.70 from FY 22/23 SHIP
Program funds. The household will also meet the SHIP statutory set-aside, requiring all
jurisdictions to spend 30% of funding for low -income households.
The Administration is currently working with the lender, title company, realtor, and
condominium association in preparation for the closing.
Currently, there are 110 households in the process of completing their application for the
first-time homebuyer program. The Administration continues to work with applicants on a
first-qualified, first-served basis. Currently, there is approximately $780,765.03 remaining
in HOME funds and $266,575.61 remaining in FY 22/23 SHIP funds.
For more information, please contact Alba Tarre, Director, Office of Housing and
Community Services, at 305.673.7491 or via email at albatarre@miamibeachfl.gov.