Florida Construction News staff writer
Florida has approved $711 million for multiple programs to expand availability of housing, downpayment assistance, and focused support for military communities and doubles the 2022—2023 spending.
Highlights of the legislation include:
- $259 million for the SAIL program to provide low interest loans to developers building workforce housing.
- $150 million of these funds are recurring for certain specified uses such as redevelopment of underused property and projects near military installations.
- $252 million for the SHIP program to provide local governments with incentives to build partnerships with developers who are preserving available housing or producing more housing.
- $100 million for the Florida Hometown Heroes Housing Program to provide down payment and closing cost assistance to first-time home buyers with a focus on law enforcement, first responders, teachers, active duty military, and military veterans.
- $100 million for FHFC to implement a loan program to alleviate inflation-related cost increases for FHFC-approved housing projects
Officials say the Live Local Act will provide safe, quality and affordable housing for families across Florida.
“When I moved here to Naples almost 43 years ago, the community was talking about the lack of housing for our workers,” said Senate President Kathleen Passidomo. “It was a problem then and remains a persistent problem in many areas of our state – that changes today.
“We are shutting down affordable housing stereotypes and creating attainable housing options needed by the majority of our workforce, the backbone of Florida’s economy.”