FLORIDA HOUSING FINANCE CORPORATION
Notice of Funding Availability
FLORIDA HOUSING FINANCE CORPORATION
STATE APARTMENT INCENTIVE LOAN (SAIL) PROGRAM
2014 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 distributed over successive 3-year periods in a manner that meets the need and demand for very low-income housing throughout the state. The need and demand must be determined by using the most recent statewide low-income rental housing market studies available at the beginning of each 3-year period. The percentages over the current 3-year period are as follows: 53% for Large County; 37% for Medium County; and 10% for Small County designation developments. This funding cycle is the first year of a 3-year period. Funding cannot be made at levels that would make it impossible to meet the statutory requirements over the 3-year period.
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 reserved by designated tenant group category at the percentages determined by using the most recent statewide low-income rental housing market studies available.
Program funds shall be made available under this NOFA at the following percentages per tenant group: 10% for Commercial Fishing Worker/Farmworker; 10% for Homeless; 10% for Special Needs, 20% for Elderly [Note: This amount is subject to a 10% reduction of the 20% set-aside amount, with the funds being made available to applicants for the Elderly Housing Community Loan Program]; and 50% for Families. The reservation of funds to any demographic category may not be less than 10% of the funds available at that time, except for persons who are homeless which reservation may not be less than 5% of the funds available.
Florida Housing currently anticipates the allocation of approximately $93,660,000 for all competitive solicitations associated with the SAIL Program from funding sources as estimated below:
$57,660,000 = 2014 Legislative Appropriation
$36,000,000 = SAIL Program Income
Geographic distribution will be set based upon an anticipated funding level of $93,660,000. This amount is subject to change. The anticipated geographic funding distribution is as follows:
COUNTY DESIGNATIONFUNDING TARGET
Large$49,639,800
Medium$34,654,200
Small$9,366,000
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/Developers/MultiFamilyPrograms/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.
