Miami-Dade County paying too much on affordable-housing program: report

Miami /
Jul.July 11, 2012 03:45 PM

A state examiner’s report found that 13 cents of every real-estate transaction surtax dollar earmarked for affordable housing was eaten by administrative costs in Miami-Dade County last year. According to the Miami Herald, Florida’s legislature attempted to curb administrative spending in 2009 by capping it at 10 percent of the annual surtax revenue. The county has since attempted to get around the 10 percent limit by tapping other revenue sources to make up the difference. In 2011, the county spent approximately $5 million on administrative costs, even though the cap for that year was set at $1.9 million.

Now, Mayor Carlos Gimenez and other public officials are mounting an attack on what they deem wasteful administrative spending in the surtax program by reorganizing the department. “We’re going through a massive reform to make sure we’re getting the most bang for the buck,” said Gregg Fortner, executive director of Miami-Dade’s Department of Public Housing and Community Development. [Miami Herald]


Related Articles

arrow_forward_ios
(Getty)
Active agents in Miami drop 36% in a year, as market cools
Active agents in Miami drop 36% in a year, as market cools
Miami-Dade County mayor Daniella Levine Cava, Citadel's Ken Griffin
Ken Griffin kicks in $3M to Miami-Dade fund for housing, other initiatives
Ken Griffin kicks in $3M to Miami-Dade fund for housing, other initiatives
Homes
South Florida home sales plunge, prices in flux in the fourth quarter
South Florida home sales plunge, prices in flux in the fourth quarter
From left: LeBron James, Ken Griffin, Miami-Dade Mayor Daniella Levine Cava, Jeff Bezos, Vlad Doronin, and Stephen Ross (Getty)
Here’s what went down in South Florida real estate in 2022
Here’s what went down in South Florida real estate in 2022
Miami skyline
South Florida home sales keep falling as price growth slows
South Florida home sales keep falling as price growth slows
(Illustration by The Real Deal with Getty)
“It’s not dead, it’s just different.” South Florida resi slowdown persists
“It’s not dead, it’s just different.” South Florida resi slowdown persists
Danielle Hale
Slowdown is “paradoxical:” Realtor.com’s chief economist on Miami housing market’s future
Slowdown is “paradoxical:” Realtor.com’s chief economist on Miami housing market’s future
From left: Ansorg Development's Karl-Ulrich Ansorg, Tulip Group's Kobi Elbaz, Ofir Gabriel, and Amit Kort in front of 234-264 Northeast 34th Street in Miami (Getty, Google Maps, YouTube/Tulip Group Thailand, usbotschaftberlin, Public domain - via Wikimedia Commons)
Inside look at planned Edgewater mixed-use condo tower
Inside look at planned Edgewater mixed-use condo tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...