Multifamily SHIP Application 2025 RFA

Monroe County, Florida is accepting applications for SHIP (State Housing Initiatives Partnership) multifamily affordable rental construction and rehabilitation funding, with applications opening August 10, 2026 and closing October 29, 2026 at 3:00 PM EST. This is a funding availability solicitation, not a procurement of goods or services — Monroe County will award SHIP loans to eligible applicants developing or rehabilitizing affordable rental housing.

Monroe County has allocated $255,000 in total FY 2024-2025 SHIP funding with a maximum award of $40,000 per assisted unit. Funding is structured as deferred payment loans with a fifteen-year term secured by recorded promissory notes, mortgages, rental monitoring agreements, and land use restriction agreements. Not-for-profit entities receive 0% interest with full loan forgiveness at maturity; for-profit entities receive 3% interest with full loan repayment required at maturity. All funds must be expended by June 30, 2027, with fund requests submitted to Monroe County by April 30, 2027.

Eligible applicants include for-profit entities, not-for-profit organizations, and governmental entities serving very low-income, low-income, moderate-income, and households up to 140% of Area Median Income throughout Monroe County. Applications are evaluated under three ranked priorities: preservation of assisted housing units (Priority 1), rehabilitation of existing affordable rental units (Priority 2), and creation of new rental units through rehabilitation or construction (Priority 3). Within each priority, applications are ranked by affordability period length, income-targeting percentages, and lowest SHIP per-unit cost as a tiebreaker. Applicants must select one priority and submit separate applications for multiple priorities.

All applications must include organizational history, affordable housing experience, project narratives, complete budgets with itemized cost estimates, timelines with milestones, documentation of leveraged funding sources, and a completed Due Diligence Cost Estimates Form. A minimum fifteen-year Land Use Restriction Agreement is required. Rents must not exceed Florida Housing Finance Corporation limits. Projects demonstrating innovative design, green building principles, storm-resistant construction, and energy efficiency receive priority consideration.

Questions are due October 9, 2026 at 5:00 PM EST via the Bonfire electronic platform at https://monroecounty-fl.bonfirehub.com, with responses provided by October 16, 2026. Technical assistance is available from Monroe County SHIP Administrator Cathy Crane at 305-292-4408, Monday through Friday, 8:00 AM to 5:00 PM.