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Gallastegui, Elvi
From: Mayor, Pattie
Sent: Tuesday, October 30, 2007 2:41 PM
To: Alfonso, Enrique
Cc: Gallastegui, Elvi; 'Petersobe@aol.com'; Nelson, Ron; Alexander, Ryan
Subject: FINAL - AFFORDABLE HOUSING 9NOV
Use the version below... (11:30 am Tuesday Oct 30th) (THANK YOU...Pattie)
DISCUSSION ABOUT AFFORDABLE HOUSING AND THE FEASIBILITY OF USING COMMUNITY
DEVELOPMENT FUNDS, TO BUY UP CONDOS AND HOUSES, IF AND WHEN, THEY HIT A PRICE
POINT OF $225 PER SQ. FT OR LESS; (OR $200 SQ FT OR LESS) MAKING THESE UNITS
AVAILABLE TO QUALIFIED APPLICANTS MAKING 80% TO 200% OF MIAMI-DADE COUNTY
MEDIAN INCOME. THE GOAL IS TO OFFER UNITS IMMEDIATELY TO QUALIFIED APPLICANTS
INSTEAD OF MAKING THEM WAIT 2 TO 4 YEARS FOR UNITS CURRENTLY UNDER
DEVELOPMENT THAT COST THE BUYERS, AND TAXPAYERS, FAR MORE THAN CURRENTLY
AVAILABLE UNITS. ANOTHER BENEFIT TO THE CITY IS THIS POLICY, IF ENACTED, WOULD
CREATE A PRICE FLOOR. THIS POLICY SIGNALS CONFIDENCE TO THE MARKET. AND THIS
POLICY MIGHT CREATE IMMEDIATELY AVAILABLE HOUSING TO QUALIFIED APPLICANTS.
THE CITY COULD ALSO MAKE AVAILABLE A LIST OF REASONABLY PRICED UNITS TO ANY
POTENTIAL BUYERS.
Patricia M. Mayor
Office of Commissioner Marc D. Sarnoff
City of Miami - District 2
CITY HALL
3500 Pan American Drive
Miami, FL 33133
305 250-5333
305 579-3334 FAX
pmayor@miamigov com
10/30/2007