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Affordable Housing Funds Under Attack in Florida

Since 1992, home builders have contributed documentary stamp fees into Affordable Housing Trust Funds that have helped more than 135,000 working families buy or rent affordable housing. The money is disbursed by the state to both state and local housing programs, and is leveraged by local governments.

The non-profit Florida Housing Coalition estimates that housing programs in Southwest Florida communities would take big hits under the various budget proposals being considered for the next fiscal year. The coalition says State Housing Initiative Partnership funds — which are used to help low-income people repair their homes or buy new ones — could be trimmed by $590,000 in Charlotte, $1.1 million in Manatee and $1.4 million in Sarasota.

The Florida Home Builders Association and local associations have joined the battle to preserve the housing trust funds during a tight budget year. According to the Florida Housing Coalition, every $1 million of state money spent on housing programs generates more than $8 million in economic activity and more than 160 jobs.

“At a time when state and national leaders are looking for ways to stimulate the economy, it’s shortsighted to slash a program that not only helps its target audience but benefits Florida’s bottom line,” said Northeast Florida BA Association President Denise Wallace.

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