LTC 485-2024 First-Time Homebuyer Program Applicant UpdateMIAMI BEACH
OFFICE OF THF CITY MANAGER
NO.LTC #485-2024 LETTER TO COMMISSION
TO:Honorable Mayor Steven Meiner and Members of the City Commission
FROM:Eric T.Carpenter,City Manager e,c (~
DATE:November 4,2024
SUBJEC T:First-Time Homebuyer Program Applicant Update
The purpose of this Letter to Commission ("LTC")is to advise of the application approval
and disbursement for two First-time Homebuyer Program Applicants.Both households
were certified to be income-eligible to receive down payment assistance funding from
the HOME Investment Partnership (HOME)and Statewide Housing Initiatives
Partnership (SHIP)first-time homebuyer programs in the amount of $100,000,consisting
of $40,000 from FY 20/21 HOME funds and $60,000 from FY 22/23 SHIP funds.
•Household No.1 received down payment and rehabilitation assistance for the
purchase of a condominium unit located at 1550 Pennsylvania Avenue,Unit
122,Miami Beach,FL 33139.The household was awarded $100,000
consisting of $40,000 from FY 20/21 HOME funds and $60,000 from FY
22/23 SHIP funds and utilized $95,000 towards down payment assistance
and $5,000 towards rehabilitation costs.The closing was finalized on October
3,2024.
•Household No.2 received down payment and rehabilitation assistance for the
purchase of a condominium unit located at 7125 Bonita Drive,Unit 204,
Miami Beach,FL 33141.The household was awarded $100,000 consisting of
$40,000 from FY 20/21 HOME funds and $60,000 from FY 22/23 SHIP funds
and utilized $95,000 towards down payment assistance and $5,000 towards
rehabilitation costs.The closing was finalized on October 29,2024.
Currently,there are 56 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.
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.
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