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 2019, $200 million was allocated for housing trust fund programs.
In 2020, lawmakers appropriated $370 million in the State and Local Government Housing Trust Funds for affordable housing programs. However, Governor Ron DeSantis vetoed a portion of this funding to help deal with the negative impacts of the COVID-19 pandemic.
Following this veto, the amount of funding available for affordable housing programs for the 2020-2021 fiscal year is $145 million.