The State Housing Initiatives Partnership (SHIP) program will open applications Monday, November 3, offering $2.9 million in funding to expand safe and affordable housing in unincorporated Sarasota County.
Eligible homeowners can apply for 0% interest deferred loans to support home purchase assistance and owner-occupied home rehabilitation. Applications will be accepted on an ongoing basis at HEROSRQ.net/SHIP
The program is administered locally by the Sarasota County Housing Enhancement and Redevelopment Office (HERO), established in 2023 to oversee housing, community development and homelessness prevention programs in unincorporated Sarasota County.
About the Program
The SHIP program provides funding as a 0% interest deferred loan for a 20-year term to support the creation and preservation of affordable housing for income-eligible households. Assistance may be available as grants or deferred loans based on program type and applicant eligibility.
SHIP offers help for home purchases, owner-occupied rehabilitation, disaster recovery, special needs barrier removal, rental development, and the acquisition, rehabilitation, or new construction of homes.
Programs may be structured as deferred-payment loans, forgivable loans, or grants depending on eligibility. Income limits are based on HUD-defined guidelines, and applicants must occupy the property as their primary residence.
Program Options
Purchase Assistance — Funds are available for gap financing, down payment, and closing costs to help eligible households buy a single-family home, townhome, or condominium. Manufactured and mobile homes are not eligible.
Owner-Occupied Rehabilitation — Funding helps homeowners make necessary repairs to correct substandard conditions, eliminate code violations, and improve health and safety.
Disaster Assistance — Aid is available to households following a disaster declared by the U.S. president or Florida governor.
Acquisition/Rehabilitation/New Construction (Homeownership) — Funds may be awarded to sponsors or developers for construction financing, property acquisition, demolition, site improvements, and the development of homes for income-eligible buyers.
Barrier Removal for Special Needs Households — Funding assists with home modifications that allow special needs populations to remain safely in their homes.
Rental Development — Funds are available for developers of affordable rental units to use as gap financing in conjunction with other state or federal programs.
Who Can Apply
- First-time homebuyers
- Homeowners needing critical home repairs
- Homeowners seeking accessibility improvements
Requirements
- The property must be the applicant’s primary and permanent residence.
- Total gross household income must not exceed program income limits.
- The home must be located in unincorporated Sarasota County.
- Applicants for purchase assistance must complete a homeownership training course or have a scheduled appointment with an approved housing counseling agency.
Applications are accepted on a first-qualified, first-served basis, with priority given to persons with special needs as defined in Florida Statute 420.0004(13). Technical assistance is available to guide applicants through the process.
For more information, call 941-861-5346, email SHIP@scgov.net or visit HEROSRQ.net/SHIP
