FL S1504

Authorizes Florida municipalities to create community land bank programs that acquire unimproved, tax-delinquent properties (with at least 5 years of delinquent taxes) through foreclosure proceedings via private sale for development into affordable housing for low-income and very-low-income households

Requires land banks to offer qualified community housing development organizations a right of first refusal (between 9 and 26 months) before selling properties to other developers, and mandates deed restrictions requiring affordability for households at 30–60% of area median income, with rental restrictions lasting at least 20 years

Creates the Retail-to-Residence Tax Credit Program, providing a tax credit of up to 9% of total project costs annually over a 5-year credit period for redeveloping shopping centers into affordable workforce housing, with allocations administered by the Florida Housing Finance Corporation

Establishes the Affordable Housing Construction Loan Program as a revolving line of construction funding for new affordable homes, limited to first-time homebuyers earning no more than 120% of area median income

Requires land banks to file annual audited financial statements within 90 days of fiscal year-end, submit performance reports to the municipality by November 1 each year, and sell acquired properties to qualified developers within 3 years or return them to taxing units