Affordable Housing Funding Programs – Get $120 Million from Foreclosure Settlement
The House unanimously passed SB 1852 this week, spending $200 million that is part of a multistate settlement with five large banks for fraudulent foreclosure practices. The package contains spending on affordable housing programs favored by the Senate, and funding for Habitat for Humanity favored by the House.
- $20 million to Habitat for Humanity to rehabilitate or reconstruct existing affordable housing facilities for low-income households.
- $60 million for the Florida Housing Finance Corporation (FHFC) to use in the State Apartment Incentive Loan (SAIL) program.
- $40 million for FHFC to use in the State Housing Initiative Program (SHIP).
Other housing funding included:
- $10 million to make upgrades to housing developments to make them accessible and usable for disabled tenants
- $10 million grant for transitional housing for the homeless
