FY 2019-20 Budget Highlights
The House and Senate reached an agreement on a $91.1 billion budget for FY 19-20. Below is a brief update regarding the financial resources that were provided for affordable housing initiatives.
As you may recall from previous email updates, the House's initial budget proposal restricted all of the affordable housing funding to Hurricane Michael impacted areas. FAA joined other members of the Sadowski Affordable Housing Coalition in advocating for statewide affordable housing funding.
The FY 19-20 budget provides $200.6 million for Florida's affordable housing programs, which is $76.9 million more than last year's budget. However, it is important to note that full funding of the Sadowski Affordable Housing Trust Fund would have been $332 million. This means $132 million was swept from the Sadowski Affordable Housing Trust Fund and placed into General Revenue for other purposes within the state budget.
Affordable Housing Allocations Include:
- $115 million for affordable housing initiatives in Hurricane Michael impacted areas.
- $77.6 million for affordable housing initiatives statewide, which includes funding for the State Housing Initiatives Partnership (SHIP) Program and the State Apartment Incentive Loan (SAIL) Program.
- $8 million for Jacksonville's Urban Core Workforce Housing project.