FLORIDA HOUSING FINANCE CORPORATION
Notice of Funding Availability
FLORIDA HOUSING FINANCE CORPORATION
STATE APARTMENT INCENTIVE LOAN (SAIL) PROGRAM
COMMUNITY WORKFORCE HOUSING LOAN PROGRAM
2020 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.), and the Community Workforce Housing Program, pursuant to Section 420.5095, Florida Statutes. The funding will be offered through one or more competitive solicitations.
Regarding the SAIL Program, in accordance with subsection 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 2019, the need and demand are as follows: 53.8% for Large County; 36.2% for Medium County; and 10% for Small County designation developments.
In accordance with subsection 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 2019 statewide low-income rental housing market studies available.
SAIL 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; 13% for Special Needs, 24.6% for Elderly [Note: This amount is subject to a 10% reduction of the 24.6% set-aside amount, with the funds being made available to applicants for the Elderly Housing Community Loan Program]; and 47.4% 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 $127,925,000 of SAIL funding for all competitive solicitations associated with the above tenant groups.
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 $127,925,000. This amount is subject to change. The anticipated geographic funding distribution is as follows:
COUNTY DESIGNATIONFUNDING TARGET
Large$68,823,650
Medium$46,308,860
Small$12,792,500
An additional $18,514,000 of funding will be made available for loans under the Community Workforce Housing Loan Program to construct workforce housing to serve persons throughout the state and, in the Florida Keys Area of Critical State Concern, in accordance with Section 420.5095, Florida Statutes.
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.
