Voters Approve Affordable Housing Trust Fund for Broward
Broward County voters overwhelming said “YES” to a local affordable housing trust fund on November 6, 2018. The issue was the third in a series of ballot questions put forward by the Broward County Charter Review Commission. Its passage by 72.8 percent demonstrates widespread community support for a local affordable housing trust fund that will be used to help alleviate the shortage of affordable housing in Broward County and address issues of homelessness. Any money that the County puts into this new fund can only be used for affordable housing, unlike funds placed in the state affordable housing trust fund, which have been historically been swept by the State Legislature to fund other initiatives. The Broward Housing Council’s 2018 work program called for an initiative to “Establish a dedicated source of funding (i.e. affordable housing trust fund) to support the creation and preservation of affordable housing.”
2016-2017 Annual Report Released
Source: Broward County Planning and Development Management Division
On August 14, the Board of County Commissioners accepted the Broward Housing Council’s 2016-17 Annual Report. The purpose of Annual Report is to provide a summary of the Broward Housing Council’s activities between October 1, 2016 and September 30, 2017. It is not intended to, and does not, highlight individual municipalities, housing authorities or county agency funding sources. More…
Broward Housing Council Sponsored October Workshop
The Broward Housing Council sponsored an affordable housing workshop at Tree Tops Park on October 26, 2018.
“Stakeholders, Strategies and Innovative Solutions for Affordable Housing” was a free, half-day event focusing on unique financial strategies to support affordable housing initiatives. Attendees and panelists included bankers, for-profit developers, federal regulators and affordable housing providers and advocates.
Participants engaged in facilitated breakout sessions addressing the topics of financing, land availability and predevelopment obstacles. A report of these findings and proposed action items will be presented to the Broward Housing Council at their December 14 meeting.
How Much Salary Do You Need to Afford a Median-Price Home in South Florida?
Source: Sun-Sentinel, August 20, 2018
Data issued by HSH.com®, a publisher of mortgage and consumer loan information, a potential home buyer in Broward County would need to earn about $78,337 a year to afford the median home sales price of $353,000. This represents a 31% increase over the past three years in both home sale prices and the purchaser’s earnings required to qualify for a mortgage. More…
New South Florida Apartments Surge Toward Completion: Could Rent Declines Be Far Behind?
Source: Sun-Sentinel, August 10, 2018
The results of a survey released by apartment search site, RENTCafe, project that that about 9,800 new apartment units will be opening in South Florida by the end of this year. However, the rent amounts in the Broward-Miami Dade-Palm Beach tri-county area are on the rise and these increases are expected to continue. More…
Broward Council Members