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The State Apartment Incentive Loan (SAIL) Program provides low-interest rate mortgage loans to developers who build or substantially rehabilitate rental developments, made affordable to very low (50% or less of area median) income households. The SAIL loan bridges the gap between a development's primary financing and total development costs.

Eligible Activities/Beneficiaries

The SAIL Program targets the new construction or rehabilitation of very-low income housing in the following categories: farm worker or commercial fishing worker, elderly housing, family housing, and homeless developments. The program targets very low income persons but allows a mixed income development in conjunction with private financing.


Loans are typically issued for a maximum of 15 years but can go longer. Loans generally are limited to 25% of the project costs but may go higher to certain non-profit developments. Interest rates are set each year, and are currently 3% interest only, cash flow loans (1% on farmworker developments).

Set-aside Requirements

20% of the units must be available to persons earning 50% or less of the area or state median income. For developments using Housing Credits a minimum of 40% of the units must be available to persons earning 60% or less of the area or state median income. Both are adjusted for family size. The minimum affordability term is 15 years though almost every applicant commits to 50 years. Among the top scoring applications in 2000, the average development's proposed set aside for family housing was 6.5% of units at 35% of area median income and 83% of units at 60% or less of area median income.

Eligible Applicants/Application Process

For-profit and nonprofit organizations and public agencies may apply for SAIL on a competitive basis through a cycle that includes HC and MRBs. Application cycles are held annually and are reviewed, scored and ranked according to such items as funding, ability to proceed, leveraging and experience of development team. (www.floridahousing.org)