The Housing Authority of the City of Fort Myers recently received $9.4 million in SAIL (State Apartment Initiatives Loan) funding from the Florida Housing Finance Corporation.
The SAIL Program provides low-interest loans on a competitive basis to bridge the gap between the affordable housing development’s primary financing and the total cost of the development. The Housing Authority of the City of Fort Myers will put the $9.4 million toward gap financing for its 92-unit housing development on Cleveland Avenue.
“This funding will play a critical role in furthering our new housing development and allowing us to expand affordable housing options in our region,” said Marcia Davis, executive director of the Housing Authority of the City of Fort Myers. “We are grateful for the Florida Housing Finance Corporation for allocating these funds to help us provide residents in our community with a safe and affordable place to call home.”
The Housing Authority of the City of Fort Myers was the only housing authority in Florida to receive this funding.
To learn more about The Housing Authority of the City of Fort Myers, visit HACFM.org or call 239-344-3220.