New Era for Sadowski Trust Funds
- No more sweeps.
- SB 2512 guarantees (after July 1, 2021) the end to sweeps.
- $209.2 million appropriation for housing in FY 2021-2022 is largest in 12 years
- Sadowski state and local housing trust funds will be recurring revenue.
- Recurring revenue means that the initial budget prepared by legislative staff will automatically include the Sadowski housing trust fund money based on the new percentages established in SB 2512
Sadowski Funding: Amount is not a floor or a ceiling
The amount of Sadowski Act funding will go up and down each year depending upon doc stamp projections and will include growth from the doc stamp collections. Current revenue estimate is for 14% increase over next five year
Affordable housing is important – not just to those who need it, but for our entire state. Click on the video below to learn who needs affordable, who builds it, where the funding comes from and how it works in this short, but informative clip.
The Sadowski Housing Coalition
is a nonpartisan collection of 30 diverse statewide organizations that initially came together in 1991 to obtain a dedicated revenue source for Florida’s affordable housing programs, now known as the Sadowski Act.
The Sadowski Housing Coalition thanks the Florida Legislature for using Florida’s housing trust fund monies solely for housing which will help create over 33,000 jobs and more than $4.9 billion in positive economic impact in Florida.* Housing dollars can put Florida’s housing industry to work repairing homes and improving the real estate market, and help reduce future state budget deficits.
*Impact estimates were based upon the Governor’s FY21-22 proposed budget.
Current Funding and Estimates of Future Local Impact:
Ready for a Deeper Dive? Read our FAQs.
April 14, 2021
Call to Action: Please email every member of the Senate and House Appropriations Committees and the Senate President and Speaker.
A sample message for you to use or modify/personalize is as follows:
Thank you for ensuring that affordable housing will always be funded and not swept with passage of SB 2512.
We respectfully ask that this year you appropriate an additional $225 million for the Florida’s housing programs.
With the addition of $225 million in nonrecurring funds, Florida can help 19,000 households with affordable housing, create 33,000 jobs, realize a $4.9 billion dollar positive economic benefit, and return $167 million in revenue to the state and local budgets in a year when we need it most.
It’s a winning proposition. Thank you for your consideration.
AFFORDABLE HOUSING IN FLORIDA
The veto of the State Housing Initiatives Partnership (SHIP) funding from the Fiscal Year 2020-21 budget means that all of those SHIP funds remain in the Local Government Housing Trust Fund. None of that money has been lost, but those funds will remain in the trust fund until the Florida Legislature takes action and appropriates it.
With the anticipation of a special session in the fall, we ask that the Governor and the Legislature continue to prioritize affordable housing in the state and give serious consideration to appropriating all of these SHIP funds for affordable housing.
The need for affordable housing in Florida is greater than ever. These funds can aid in responding to the pandemic by helping Floridians who have lost employment due to COVID-19 stay in their rental housing and in their homes. It can also fund critical repair home programs, including emergency repair initiatives for low to moderate-income families.
SHIP funds can also help economically as Florida looks to recover from the impacts from the pandemic.
HOUSING IS HEALTHCARE
The full appropriation of Sadowski Trust funds for housing could not have come at a better time. Every SHIP program in Florida will use these funds in response to the COVID-19
Over 33,000 jobs will be created if the Housing Trust Fund is used for its purpose — affordable housing.
$4.9 BILLION IMPACT
More than $4.9 billion in positive economic impact if the Housing Trust Fund is fully funded.
Projected funding for the 2021-22 Housing Trust Fund if it is not raided by legislators.
Where Do the Numbers Come From?
SHORT ON TIME?
Here’s a few quick facts you need to know.
Click the button below to access a step-by-step guide to talking with your legislators about the importance of affordable housing.