FLORIDA HOUSING FINANCE CORPORATION
Notice of Funding Availability
FLORIDA HOUSING FINANCE CORPORATION
STATE APARTMENT INCENTIVE LOAN (SAIL) PROGRAM
2017 NOTICE OF FUNDING AVAILABILITY (NOFA)
The Florida Housing Finance Corporation (Florida Housing) announces the availability of funding for the State Apartment Incentive Loan (SAIL) Program, pursuant to Section 420.5087, Florida Statutes, and Rule Chapter 67-48, Florida Administrative Code (F.A.C.) or a competitive solicitation, as applicable. The funding will be offered through one or more competitive solicitations.
In accordance with Section 420.5087(1), Florida Statutes, program funds shall be made available in a manner that meets the need and demand for very low-income housing throughout the state. As determined by the most recent statewide low-income rental housing market studies, conducted in 2016, the need and demand are as follows: 53% for Large County; 37% for Medium County; and 10% for Small County designation developments.
In accordance with Section 420.5087(3), Florida Statutes, for the six-month period beginning with the publication of this NOFA, program funds shall also be made available to designated tenant group categories at the percentages determined by using the 2016 statewide low-income rental housing market studies available.
Program funds shall be made available under this NOFA at the following percentages per tenant group: 5% for Commercial Fishing Worker/Farmworker; 10% for Homeless; 14% for Special Needs, 21% for Elderly [Note: This amount is subject to a 10% reduction of the 21% set-aside amount, with the funds being made available to applicants for the Elderly Housing Community Loan Program]; and 50% for Families. The funds made available to any demographic category may not be less than 10% of the funds available at that time, except for Commercial Fishing Worker/Farmworker which may not be less than 5% of the funds available.
Florida Housing currently anticipates the allocation of $130,000,000 of SAIL funding for all competitive solicitations associated with the above tenant groups from funding sources as estimated below:
$91,500,000 = 2017-2018 Legislative Appropriation
$38,500,000 = SAIL Program Income
The geographic distribution has been adjusted to meet the requirements of Section 420.5087, Florida Statutes, and will be based upon an anticipated funding level of $130,000,000. This amount is subject to change. The anticipated geographic funding distribution is as follows:
COUNTY DESIGNATIONFUNDING TARGET
Large$68,900,000
Medium$48,100,000
Small$13,000,000
In accordance with the General Appropriation Act and House Bill 5003, for the 2017-2018 fiscal year, an additional $40,000,000 of SAIL funding, plus $1,012,000 remaining from the 2016-2017 fiscal year, will be made available for loans to construct workforce housing to serve primarily low-income persons throughout the state and, in the Florida Keys Area of Critical State Concern, to serve households with incomes not to exceed 140 percent of area median income.
For more information on opening and closing dates of the competitive solicitations, or on how to submit an Application, please access Florida Housing’s Website at:
http://www.floridahousing.org/programs/developers-multifamily-programs/competitive.
If you are hearing or speech impaired please contact Florida Housing using the Dual Party Relay System at 1(800)955-8770 or 1(800)955-8771.
All Applications submitted in response to a competitive solicitation must be submitted to Florida Housing Finance Corporation in accordance with the requirements of the applicable Request for Applications, provisions of all applicable Florida Statutes, Rule Chapter 67-60, F.A.C., and Rule Chapter 67-48, F.A.C.
