State Housing Initiatives Partnership (SHIP)
Florida Housing administers the State Housing Initiatives Partnership program (SHIP), which provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing. The program is designed to serve very low-, low- and moderate-income families.
SHIP funds are distributed to all 67 counties and 55 cities in Florida. The minimum allocation is $350,000 per county. In order to participate, local governments must establish a local housing assistance program and a local housing assistance plan (LHAP).
SHIP funds may be used for:
- Emergency repairs
- New construction
- Rehabilitation
- Down payment/mortgage assistance and closing cost assistance
- Impact fees
- Construction and gap financing,
- Acquisition of property for affordable housing
- Tenant Assistance (rent, deposits)
- Matching dollars for federal housing grants and programs
- Homeownership counseling
Program Set-aside Requirements:
- A minimum of 65 percent of the funds must be spent on eligible homeownership activities
- A minimum of 75 percent of funds must be spent on eligible construction activities
- At least 30 percent of the funds must be reserved for very-low income households (up to 50 percent of the area median income or AMI)
- An additional 30 percent must be reserved for low income households (up to 80 percent of AMI);
- The remaining funds may be reserved for households up to 140 percent of AMI.
- No more than 10 percent of SHIP funds may be used for administrative expenses.
Funding for this program was established by the passage of the 1992 William E. Sadowski Affordable Housing Act. Funds are allocated to local governments on a population-based formula.