Florida bills to protect affordable housing fund dead in session

$185M will be diverted elsewhere

TRD MIAMI /
Mar.March 19, 2018 04:18 PM

(Credit: FreeStockPhotos.biz, Wikimedia Commons)

Two Florida bills aiming to protect affordable housing funds from being diverted elsewhere died in a subcommittee during the Florida Legislature session.

It’s the 11th consecutive year that funds from the William E. Sadowski Affordable Housing Act will be used to fill gaps in other budgets. Florida bills SB 874, sponsored by Naples Republican Sen. Kathleen Passidomo, and HB 191, sponsored by Tampa Democrat Sean Shaw, would have prevented the money from being used for other priorities, according to the Miami Herald. They died in the state’s transportation and tourism appropriations subcommittee before the Florida Legislature ended its 2018 session on March 11.

The affordable housing act, which collects funds for housing for the elderly and disabled, is expected to generate between $308 million and $322 million this year. The money is collected from a 20-cent surcharge for every $100 paid on real estate transactions.

More than $180 million will be swept for other priorities and about $109 million will be left for affordable housing, Florida Watchdog reported.

Gov. Rick Scott signed the $88.7 billion budget on Friday. It also sets aside $100 million for Florida Forever, the state’s environmental land acquisition fund. [Watchdog] – Amanda Rabines


Related Articles

arrow_forward_ios
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley

Baptist, Belmont gain approval for luxury senior living in Coral Gables

Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)

Sunrise affordable senior housing facility sells for $30M

Sunrise affordable senior housing facility sells for $30M
Mark Zilbert

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
(Credit: iStock)

Home sales dropped big time in South Florida in April

Home sales dropped big time in South Florida in April
 Rendering of Father Marquess-Barry Apartments with Matt Rieger

HTG scores financing for senior affordable housing in Overtown

HTG scores financing for senior affordable housing in Overtown
Renderings of different versions of the project with Matt Rieger

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown
Pharrell Williams (Credit: Ethan Miller/Getty Images)

South Florida by the numbers: Bright spots in a challenging market

South Florida by the numbers: Bright spots in a challenging market
arrow_forward_ios

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

Loading...