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HUD: $616 Million Florida Disaster Recovery Plan Approved

Investor Update
June 28, 2018

Source: HUD

Funding will target housing, infrastructure and economic development recovery

WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced he is approving a disaster recovery plan to help Floridians recover from Hurricane Irma.  In November, HUD allocated $616 million to the Sunshine State to support long-term recovery efforts.

The Florida action plan approved today is funded through HUD’s Community Development Block Grant—Disaster Recovery (CDBG-DR) Program which requires grantees to develop a thoughtful recovery program informed by local residents.  Learn more about CDBG-DR and the State’s role in long-term disaster recovery (en español).

“This funding is part of the Trump Administration’s continued commitment to helping the residents of Florida impacted by Irma to recover and rebuild their homes and their lives,” said Secretary Carson. “As we move along the road to recovery, HUD will be right by Florida’s side to help in any way we can to make the state whole again.”

Governor Rick Scott said, “It’s great news that we were able to secure critical funding from HUD that will directly benefit the families who were most affected by last year’s storms. This $616 million will enable communities to build new affordable housing and to replace homes lost in the wake of last year’s hurricane season. Through this program, we can continue to move forward with long-term affordable housing solutions for displaced families as well as provide grants to businesses who were impacted by the storm. We won’t stop working until all of Florida’s communities have fully recovered.”

To address unmet needs, the State of Florida has identified several housing and economic development recovery needs arising from Hurricane Irma and has designed the following programs to address those unmet needs and assist in the recovery:

  • Housing Repair Program ($273.3 million) will rehabilitate housing occupied by low- and moderate-income families that was damaged by Hurricane Irma. The Florida Department of Economic Opportunity (DEO) will centrally manage the following activities on behalf of eligible homeowner and rental property owner applicants:
  • Repairs to, reconstruction or replacement of housing units damaged by Hurricane Irma, which may include bringing the home into code compliance and mitigation against future storm impacts, including elevation.
  • The completion of work to homes that have been partially repaired.
  • Repairs to, or replacement of, manufactured homes impacted by Hurricane Irma.
  • Temporary housing assistance based on individual household needs and their participation in the Housing Repair Program.
  • Workforce Affordable Rental New Construction Program ($100 million) will facilitate the creation of affordable rental housing though a partnership with DEO and the Florida Housing Finance Corporation by leveraging CDBG-DR funds with low-income housing tax credits as well using CDBG-DR funds for zero-interest loans for smaller developments.
  • Land Acquisition for Affordable Workforce Housing ($20 million) provides funding for the purchase of land for development into affordable housing, especially in areas of the state where the scarcity of developable land makes it difficult to construct properties that can be rented at an affordable rate for the community’s workforce.
  • Voluntary Home Buyout Program ($75 million) encourages risk reduction through the voluntary purchase of residential properties in high flood-risk areas. Communities that participate in this program are encouraged to develop plans for the reuse of the acquired land to further reduce flood risk and/or serve as a recreational space for the public.
  • Recovery Workforce Training Program ($20 million) will bolster workforce training throughout the state with the goal of growing the skilled labor force needed to support the long-term recovery, primarily in the housing construction field.
  • Business Recovery Grant Program ($60 million) provides funding for eligible business owners who are seeking reimbursement for the cost of replacing equipment and inventory damaged by Hurricane Irma.
  • Business Assistance to new Floridians from Puerto Rico ($6 million) provides business plan guidance, accounting services, licensing information and other resources to support assistance in assimilating to the business climate in the State of Florida.

In April, HUD also allocated an additional $791 million of CDBG-DR funding to Florida for unmet need, infrastructure and mitigation purposes.  HUD will shortly issue requirements governing those funds, and Florida, along with other states, will be required to submit plans addressing their use.  Read more about the additional disaster recovery/mitigation funding to Florida.

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CEO

Alan Jaffa

Alan Jaffa is the Chief Executive Officer for Safeguard Properties, steering the company as the mortgage field services industry leader. He also serves on the board of advisors for SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.

Alan joined Safeguard in 1995, learning the business from the ground up. He was promoted to Chief Operating Officer in 2002, and was named CEO in May 2010. His hands-on experience has given him unique insights as a leader to innovate, improve and strengthen Safeguard’s processes to assure that the company adheres to the highest standards of quality and customer service.

Under Alan’s leadership, Safeguard has grown significantly with strategies that have included new and expanded services, technology investments that deliver higher quality and greater efficiency to clients, and strategic acquisitions. He takes a team approach to process improvement, involving staff at all levels of the organization to address issues, brainstorm solutions, and identify new and better ways to serve clients.

In 2008, Alan was recognized by Crain’s Cleveland Business in its annual “40-Under-40” profile of young leaders. He also was named a NEO Ernst & Young Entrepreneur Of The Year® Award finalist in 2013.

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Esq., General Counsel and EVP

Linda Erkkila

Linda Erkkila is the General Counsel and Executive Vice President for Safeguard Properties, with oversight of legal, human resources, training, and compliance. Linda’s broad scope of oversight covers regulatory issues that impact Safeguard’s operations, risk mitigation, strategic planning, human resources and training initiatives, compliance, insurance, litigation and claims management, and counsel related to mergers, acquisition and joint ventures.

Linda assures that Safeguard’s strategic initiatives align with its resources, leverage opportunities across the company, and contemplate compliance mandates. She has practiced law for 25 years and her experience, both as outside and in-house counsel, covers a wide range of corporate matters, including regulatory disclosure, corporate governance compliance, risk assessment, compensation and benefits, litigation management, and mergers and acquisitions.

Linda earned her JD at Cleveland-Marshall College of Law. She holds a degree in economics from Miami University and an MBA. Linda was previously named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.

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COO

Michael Greenbaum

Michael Greenbaum is the Chief Operating Officer of Safeguard Properties, where he has played a pivotal role since joining the company in July 2010. Initially brought on as Vice President of REO, Mike’s exceptional leadership and strategic vision quickly propelled him to Vice President of Operations in 2013, and ultimately to COO in 2015. Over his 14-year tenure at Safeguard, Mike has been instrumental in driving change and fostering innovation within the Property Preservation sector, consistently delivering excellence and becoming a trusted partner to clients and investors.

A distinguished graduate of the United States Military Academy at West Point, Mike earned a degree in Quantitative Economics. Following his graduation, he served in the U.S. Army’s Ordnance Branch, where he specialized in supply chain management. Before his tenure at Safeguard, Mike honed his expertise by managing global supply chains for 13 years, leveraging his military and civilian experience to lead with precision and efficacy.

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CFO

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard Properties. Joe is responsible for the Control, Quality Assurance, Business Development, Marketing, Accounting, and Information Security departments. At the core of his responsibilities is the drive to ensure that Safeguard’s focus remains rooted in Customer Service = Resolution. Through his executive leadership role, he actively supports SGPNOW.com, an on-demand service geared towards real estate and property management professionals as well as individual home owners in need of inspection and property preservation services. Joe is also an integral force behind Compliance Connections, a branch of Safeguard Properties that allows code enforcement professionals to report violations at properties that can then be addressed by the Safeguard vendor network. Compliance Connections also researches and shares vacant property ordinance information with Safeguard clients.

Joe has an MBA from The Weatherhead School of Management at Case Western Reserve University, is a Certified Management Accountant (CMA), and holds a bachelor’s degree from The Ohio State University’s Honors Accounting program.

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Business Development

Carrie Tackett

Business Development Safeguard Properties