Agenda 05/27/2025 Item #16D 5 (Authorize two (2) Budget Amendments for additional Fiscal Year 2023/2024 SHIP program)5/27/2025
Item # 16.D.5
ID# 2025-1676
Executive Summary
Recommendation to authorize two (2) Budget Amendments for additional Fiscal Year 2023/2024 SHIP program
allocation of $92,466.00 and to recognize $169,333.94 in program income from Overnight, Investment interest and
Payoffs for the State Housing Initiatives Partnership Program Fiscal Year 2024/2025 (SHIP Grant Fund 1053).
OBJECTIVE: To continue to promote affordable housing strategies for low to moderate-income persons through the
State Housing Initiatives Partnership (SHIP) Program.
CONSIDERATIONS: On July 7, 1992, the Florida legislature enacted the William E. Sadowski Affordable Housing
Act to provide additional funding to local communities to promote and advance affordable housing initiatives. Funds are
generated through documentary stamp tax on real estate transactions. Under the SHIP Program, Collier County and the
City of Naples receive funds from the State of Florida through the Florida Housing Finance Corporation (FHFC) to
undertake eligible homeownership and rental-related activities.
To prevent a disruption in service, on July 11, 2023 (Agenda Item #16D.2), the Board of County Commissioners
(Board) approved an estimated award in SHIP funding. These funds are to be used to implement SHIP Program
strategies outlined in the 2022/2025 LHAP that was approved by the Board on April 26, 2022 (Agenda Item #16D3).
The following table provides a breakdown of the Budget Amendments:
For FY 23/24, Collier County has been awarded an additional $92,466 for a total award of $4,578,962.00.
FY Project Actual
Award
Estimate
Award
Total
Budget
Amendment
23/24 33863 $4,578,962.00 $4,486,496.00 $92,466.00
For FY 24/25, Program Income in the amount of $169,333.91 was received from overnight and investment interest.
FY Project Overnight
Interest
Investment
Interest
Program
Income
Total Budget
Amendment
24/25 33907 $57,067.33 $58,266.61 $54,000.00 $169,333.94
Supports the Strategic Plan for Community Development through comprehensive, affordable housing opportunities.
FISCAL IMPACT: The Budget Amendment recognizes $92,466 in additional grant revenue that has been awarded
from the FHFC, of which ten percent (10%) will be used as administrative funds. Funds will be available in SHIP Grant
Fund (1053), Project 33863. A Budget Amendment recognizing $169,333.94 of program income, of which five percent
(5%) will be used as administrative funds. $115,333.94 was received from overnight and investment interest, and
$54,000.00 from payoffs are available in SHIP Grant Fund (1053), Project 33907. The proposed action does not have an
impact on the General Fund.
GROWTH MANAGEMENT IMPACT: Acceptance of these funds will allow the County to expand affordable
housing opportunities for its citizens and further the goals of the Housing Element of the Collier County Growth
Management Plan.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, raises no legal issues and
requires a majority vote for Board approval. -JAK
Page 6343 of 7924
5/27/2025
Item # 16.D.5
ID# 2025-1676
RECOMMENDATIONS: To authorize two (2) Budget Amendments for additional Fiscal Year 2023/2024 SHIP
program allocation of $92,466.00 and to recognize $169,333.94 in program income from Overnight, Investment
interest, and Payoffs for the State Housing Initiatives Partnership Program Fiscal Year 2024/2025 (SHIP Grant Fund
1053).
PREPARED BY: Lisa N. Carr, Supervisor-Grants, Community and Human Services Division
ATTACHMENTS:
1. ZGRANT_BUDGET_NOXML_B 4-17-25 $169,333.94
2. ZGRANT_BUDGET_NOXML_B 33863 4-17-25 $92,466.00
3. 1Q25 Int Inv Payoff + Add funds 33907 & 33863
4. 2023-2024_Holdback_Disbursement
Page 6344 of 7924