TALLAHASSEE - In late October, 2009, the Treasury, the Federal Housing Finance Administration, Fannie Mae and Freddie Mac announced a new program under which housing bond issuers will have the opportunity to sell multifamily bonds to Fannie Mae and Freddie Mac (the “GSEs”) that will in turn be securitized and sold to the Treasury. The new program is known as the HFA Initiative/ New Issue Bond Purchase (“NIBP”) program and has been created based on authority granted under the Housing and Economic Recovery Act of 2008 (HERA).

The purpose of the program is to provide low interest rate tax exempt financing to developers acquiring or constructing multifamily developments qualifying for private activity bonds.

Any questions may be addressed to:

Len Stirrat
Florida Housing Finance Corp.
227 North Bronough Street, Suite 5000
Tallahassee, FL 32301
(850) 488-4198 x1137
Len.Stirrat@floridahousing.org