Affordable housing is important not just to those who need it, but for the entire state of Florida. In 1991, the Sadowski Housing Coalition came together with the vision to create a dedicated revenue source for Florida’s affordable housing programs. It wasn’t till 1992, that Sadowski Act passed, allowing funds to be dedicated to the mission to create affordable housing and fund the Catalyst Program for Training and Technical Assistance. Since then, membership in this coalition has grown into a nonpartisan collection of over 30 statewide organizations.
Where does the funding come from?
Funding dedicated to this mission comes from the doc stamp tax paid with each purchase of real estate. These monies are then split between the state and local housing trust funds. 70% of monies are dedicated to the Local Government Housing Trust Fund for the SHIP program. This program funds housing programs in all 67 counties and larger cities. The remaining 30% of monies is dedicated to the State Housing Trust Fund for the Florida Housing Corporation to help programs such as SAIL, State Apartment Incentive Loan.
How can this funding impact the economy?
Since 1992, the dedicated revenue source towards affordable housing has made a positive impact in providing homes and within the economic growth. With the increase in affordable housing we see an increase in over 30,000+ jobs and $4.9 billion in positive economic impact in Florida. However, now more than ever the community struggles through the unforeseen circumstances of COVID-19. Nearly 1 million low-income Floridians pay more than 50% of their income on housing, for many that can be one missed paycheck away from homelessness. That is why together the Sadowski Coalition and the Sadowski Affiliates bring a cohesive message and urge the Florida Legislature to use all of Florida’s housing trust fund monies for Florida’s housing programs.
To Learn more about the Sadowski Housing Coalition please visit https://www.sadowskicoalition.org/