RFA 2026-204 SAIL Financing for the Preservation of Elderly Developments
RFA 2026-204 SAIL Financing for the Preservation of Elderly Developments supports housing developers with financing to preserve multifamily developments serving elderly residents in Florida.
Funder: Florida Housing Finance Corporation
Due Dates: October 27, 2026 (Advance review and questions) | November 10, 2026, 3:00 p.m. Eastern Time (Application)
Funding Amounts: Estimated $5,317,810 in SAIL loans, including Extremely Low Income funding; minimum base request $1,000,000
Summary: SAIL gap financing supports preservation of existing affordable multifamily housing serving elderly residents in Florida.
Key Information: SAIL must accompany tax-exempt bonds and 4% Housing Credits; bonds cannot close before the application deadline.
Description
Florida Housing Finance Corporation administers this competitive financing opportunity to preserve affordable multifamily housing for elderly residents. State Apartment Incentive Loan (SAIL) funding provides gap financing for rehabilitation, with or without acquisition, alongside tax-exempt bonds and 4% Housing Credits. The program supports building preservation, required health or sanitation improvements, and life-safety or security repairs rather than research.
The proposed 2026 approach includes a goal to fund one development within Florida Housing’s portfolio, while continuing to support preservation of HUD- and Rural Development-assisted properties and their rental assistance. Priorities include approaching affordability expiration, older developments, proximity to services, and rental assistance. The program page posts draft guidelines and application materials; applicants should check for the final RFA and modifications before submitting.
