The Latest Affordable Housing Budget Information
The State and Local Government Housing Trust Funds were created in the early 1990s. They are funded entirely by a portion of the DOC Stamp Taxes charged on every real estate transaction.
Florida operates numerous housing programs, but the two largest programs are the State Housing Initiatives Partnership Program (SHIP) and the State Apartment Incentive Loan Program (SAIL).
SHIP provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing. The program was designed to provide very low-, low-, and moderate-income families with assistance to purchase a home, money to repair or replace a home, and many other types of housing assistance.
SAIL provides low-interest loans on a competitive basis to affordable housing developers each year. This money often serves to bridge the gap between the development's primary financing and the total cost of the development.
In 2018, $123 million was allocated for housing trust fund programs.
During the 2019 legislative session, lawmakers allocated $200 million from the State and Local Government Housing Trust Funds for affordable housing programs. This included $115 million to assist Panhandle residents whose properties were devastated by Hurricane Michael.
Of the $200 million allocated in the 2019 budget, Gov. Ron DeSantis vetoed $8 million for the Jacksonville Urban Core Workforce Housing Project. The rationale for the veto was that the project would have bypassed the selection and oversight process traditionally conducted by the state-run Florida Housing Finance Corporation.
Below is a breakdown of the final 2019 Housing Trust Funds allocation:
Hurricane Housing Recovery Program - SHIP: $65,000,000
Hurricane Housing Rental Recovery Program - SAIL: $50,000,000
Total Housing: $192,600,000