Housing update reflects benefits of the Live Local Act but ongoing affordability challenges in large counties

Millions in state funds have been allocated to affordable housing through the program Local live act. But state officials say rent and mortgages still consume half the household budget of 1.4 million Floridians.

Officials from Florida Housing Finance Corporation spoke with the Senate Community Affairs Committee about progress made since the passage of the landmark affordable housing law, but also about the challenges that continue to face the rapidly growing state.

According to the Live Local Act, progress has been made in encouraging the development of affordable housing across the state since the Live Local Act was passed. Marisa Buttondirector of multifamily programs at a state agency. But she said not every factor that affects housing costs can be controlled by the state government.

“We don’t do everything,” she said. “We are a bank, so a lot of land use issues don’t sit well with Florida Housing. We administer resources and are partners in tax incentive programs available through Live Local.”

Button said the Live Local Act allowed the state to expand market opportunities through Hometown heroes program, the State Housing Incentive Loan (SAIL) program and other efforts. The SAIL program alone has enabled a $150 million investment to create mixed-income developments and create spaces that more working-class families can enjoy.

Lawmakers also received a report from the Office of Program Policy Analysis and Government Accountability (OPPAGA) examining the impact of state and local housing efforts by governments across the state.

One of those reports identified counties with the highest percentages of low-income and cost-burdened residents. They found that nearly 40% of Miami-Dade residents fall into this category, as do 34% of Broward County residents and 33% of Osceola County residents.

Overall, the report found that the Partnership for State Housing Initiatives (SHIP) has made a “positive impact on communities through outreach strategies that provide access to affordable housing for very low, low and moderate income families.”

These arrangements were met with applause from the Sadowski Coalition, which has long been in favor of the state maintaining full use of the funds obtained under the Sadowski Fund. Enacted in 1992, this fund appropriates revenue from document taxes collected for real estate activities and allocates them to affordable housing activities.

“The Sadowski Coalition has long said that Florida is a leader in the nation thanks to its successful State Housing Initiatives Partnership program, as shown in the OPPAGA report,” she said Mark Hendricksonfacilitator of the Sadowski Coalition and executive director of the Florida Association of Local Housing Finance Authorities.

“The SHIP program is flexible and can meet the changing needs and priorities of each community within the program, which is why we see it working in communities throughout Florida. “Its success is also due to the Governor of Florida and legislators who continue to prioritize housing in the state and support this effective and efficient housing program by leveraging the entire Sadowski Florida Housing Fund to create affordable housing for Floridians.”

Senators discussed how the state can solve the housing problem, taking into account regional challenges. The report noted that the majority of people spending more than 40% of their household income on housing live in seven populous counties: Broward, Duval, Hillsborough, Miami-Dade, Orange, Palm Beach and Pinellas.

“How do you prioritize development?” Jones asked.

Button said Sadowski’s funding structure directs the most revenue to counties with the highest costs. But officials noted that simple supply and demand also affects the housing market.

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