FAA Joins Sadowski Coalition to Support Continued Funding for Affordable Housing Programs

ORLANDO, Fla., January 9, 2015: The Florida Apartment Association (FAA) has joined a nonpartisan coalition of 30 organizations dedicated to the full funding of the affordable housing programs established more than 20 years ago by the Sadowski Act and financed through taxes on real estate transactions. 

Under the Sadowski Act, a portion of all document stamp taxes go into a trust fund that is used to support the State Housing Initiatives Partnership (SHIP) and the State Apartment Incentive Loan (SAIL) program. SHIP provides money to counties and cities for housing programs; SAIL funds can be used to renovate and retrofit existing communities or build new communities to accommodate people with disabilities, the elderly, veterans, and other vulnerable populations. 

"A significant number of our member communities provide affordable housing to the residents who need it most," said Ron Wenzel, president of FAA and senior regional property manager of Greystar Real Estate Partners. "Thirty percent of the trust fund money allocated each year goes toward helping them continue to do just that. So it only made sense for us to have a voice at the table." 

Courtney Barnard, FAA government affairs director, met with members of the Sadowski Coalition earlier this week to discuss plans to gain support among legislators.  

"We are looking forward to working with Senator Andy Gardiner in the 2015 session to again fund affordable housing," Barnard said. Gardiner, president of the Florida Senate and a long-time supporter of affordable housing, was honored at the FAA’s annual meeting in October as Legislator of the Year for 2014. "This year, we have a bigger challenge than ever. Not only have the Sadowski Trust Fund monies been swept into the general fund in recent years, but the passage of state constitutional Amendment 1 in November means a portion of the doc stamp money will now go to water and land conservation programs — money that would otherwise have gone to the Sadowski Fund."

"It’s important to realize that these affordable housing programs benefit not just Florida’s residents who are most in need," added Josh Gold, FAA executive vice president. "They also help the state’s economy overall. When SAIL funds are used to refurbish deteriorating apartments and build new apartment communities, that creates jobs and an overall positive economic impact."

The Sadowski Coalition includes business and industry groups such as FAA; government and planning organizations; faith-based organizations; and advocacy groups for the elderly, veterans, homeless, and people with special needs.