RFA 2026-204 SAIL Financing for the Preservation of Elderly Developments
Forecasted
RFA 2026-204 SAIL Financing for the Preservation of Elderly Developments supports housing developers with preservation and rehabilitation financing to maintain affordable homes for elderly Florida residents.
Funder: Florida Housing Finance Corporation
Due Dates (Anticipated): October 2027 (Principals Disclosure advance review) | November 2027 (Application)
Funding Amounts: Estimated $5,317,810 in total SAIL loan funding, including Extremely Low Income funding
Summary: Gap financing for the preservation and rehabilitation of affordable multifamily housing serving elderly Florida residents.
Key Information: SAIL financing must be combined with tax-exempt bonds and 4% Housing Credits, with simultaneous financing closings.
Description
Florida Housing Finance Corporation administers this competitive State Apartment Incentive Loan (SAIL) opportunity to preserve affordable multifamily housing for elderly residents. Financing supports building preservation, required health or sanitation improvements, and life-safety or security repairs. This is housing development financing rather than support for research or scientific work.
The program addresses both the physical condition of existing developments and the continued availability of affordable housing and rental assistance. Preservation encompasses qualifying properties within Florida Housing’s portfolio and qualifying federally assisted developments. Projects undergo credit underwriting and a Capital Needs Assessment to establish rehabilitation needs and the feasibility of meeting accessibility and construction requirements. Funding includes an Extremely Low Income (ELI) component supporting income-restricted units, including applicable Link commitments for persons with special needs.
