Budget Brief: Sadowski Affordable Housing Trust Fund
This week, the House and Senate released their preliminary budget proposals. Below is a brief summary regarding how the budget proposals could impact the Sadowski Affordable Housing Trust Fund.
The Sadowski fund remains a top priority for FAA because it is an important tool used to assist Florida's most vulnerable populations with affordable housing options. While we are encouraged by the Senate's proposal, you can rest assured that FAA will continue to advocate for the critical need to fully fund the Sadowski Affordable Housing Trust Fund as the budget process progresses.
House Budget Proposal
The House proposal appropriated a mere $123.6 million for affordable housing and the limited funds appropriated are earmarked exclusively for Hurricane Michael Recovery.
- $74.2 million for the Rental Recovery Loan Program to support the development of additional rental housing in hurricane impacted counties- similar to the State Apartment Incentive Loan (SAIL) program.
- $49.4 million for the Hurricane Housing Recovery Program to produce and preserve affordable housing for very low, low, and moderate income families in hurricane-impacted counties- similar to the State Housing Initiatives Partnership (SHIP).
Senate Budget Proposal
The Senate budget proposal provides $323.8 million for affordable housing.
- $53.7 million for various programs including the State Apartment Incentive Loan (SAIL) program.
- $170.1 million for the State Housing Initiatives Partnership (SHIP).
- $100 million for affordable housing initiatives associated with Hurricane Michael recovery ($90 million for a SHIP-like program and $10 million for a SAIL-like program).
Related Legislation: SB 70/HB 1103
- FAA is also supporting SB 70 (Sen. Mayfield) and HB 1103 (Rep. Plasencia), which will help prevent the legislature from raiding the Sadowski Affordable Housing Trust Fund during the budget process in the future.
- SB 70 and HB 1103 have not had a hearing at this time but we will continue to push for this legislation during the 2019 session.