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City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-01354 Final Action Date: 11/9/2007
DISCUSSION ABOUT AFFORDABLE HOUSING AND THE FEASIBILITY OF USING
COMMUNITY DEVELOPMENT FUNDS, TO BUY UP CONDOS AND HOUSES, IF
AND WHEN, THEY HITA 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.
City of Miami
Page 1 of 1 File Id: 07-01354 (Version: 1) Printed On: 4/19/2017