HUD APPROVES HOLLYBROOK HOMES FAMILY SELF-SUFFICIENCY PROGRAM

JACKSONVILLE, FL - The U.S. Department of Housing and Urban Development announced today that Hollybrook Homes is Florida's first privately owned multifamily apartment building under Section 8 contract approved to offer Family Self-Sufficiency programs to the families living in the property.

Family Self Sufficiency (FSS) (https://www.hudexchange.info/programs/multifamily-fss/) is a HUD program that provides incentives and supports to help families living in multifamily assisted housing to increase their earned income and reduce their dependence on public assistance programs. FSS promotes the development of local strategies to coordinate the use of HUD rental assistance programs with public and private resources, to enable eligible families to make progress toward economic independence and self-sufficiency.

"HUD welcomes Hollybrook Homes holistic approach to offer its residents opportunities and tools needed to become self-sufficient," said HUD Southeast Regional Administrator Denise Cleveland-Leggett. "As the first privately-owned project-based Section 8 multifamily property approved in Florida to offer services to connect residents to job training, childcare and other resources, we look forward to its successful journey and innovation to benefit the Jacksonville community."

Residents who choose to participate in HUD's FSS program will be paired with FSS coordinators who will guide them in developing self-sufficiency goals. They will also sign a five-year contract requiring the head of the household to obtain employment and for all family members to be free of public assistance for one year before the contract ends.

In addition, service providers will help participating residents to establish an interest-bearing escrow account. Deposits to this account occur when the family's rent increases because of higher earned income during the contract period. Upon graduation from the program, the family may use the escrow funds to build assets, such as a down payment on a home.

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