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 rehabilitation financing to preserve affordable multifamily housing for elderly residents in Florida.
Funder: Florida Housing Finance Corporation
Due Dates: October 27, 2026 (Principals advance review and questions) | November 10, 2026 (Application, 3:00 p.m. Eastern Time)
Funding Amounts: Estimated $5,317,810 in SAIL loan funding, including Extremely Low Income funding
Summary: Gap financing to preserve existing affordable multifamily housing serving elderly residents in Florida.
Key Information: SAIL financing must accompany Tax-Exempt Bonds and 4% Housing Credits, with simultaneous funding closings.
Description
Florida Housing Finance Corporation administers this financing opportunity for preservation of affordable multifamily housing for elderly residents. State Apartment Incentive Loan (SAIL) funding supports building preservation, required health or sanitation improvements, and life-safety or security repairs. This is housing development financing, rather than research funding, and includes a forgivable loan component for Extremely Low Income (ELI) units.
The proposed program covers rehabilitation of qualifying existing developments, with or without acquisition. It expands preservation eligibility to developments within Florida Housing’s portfolio and establishes a goal to fund one such development. Other qualifying properties include older HUD- or Rural Development-assisted housing. Priorities address expiring affordability, preservation of rental assistance, proximity to services, construction characteristics, leveraging, and Florida job creation.
