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Master Report
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File Number: 07-01354
File Type: Discussion Item Status: Filed
Version: 1 Reference:
File Name: Affordable Housing
Controlling Body: District 2-
Commissioner Marc
David Sarnoff
Introduced: 10/29/2007
Requester: Cost: Final Action: 11/9/2007
Title: 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.
Sponsors:
Notes:
Indexes:
Attachments: 07-01354 Cover E-Mail.pdf,07-01354-Submittal-Department of Community Development
Presentation.pdf,07-01354-Submittal-Element I and II Massing
Analysis.pdf,07-01354-Submittal-Florida Sales Report -Existing
Condominiums.pdf,07-01354-Submittal-Home Price Index.pdf,07-01354-Submittal-Property Sales
Prices Comparison by Zip Code.pdf,07-01354-Submiital-
Article.pdf,07-01354-Submittal-Flyers.pdf,07-01354-Submittal- Expenditures (Outflows) by Function -
All Funds Pie Chart.pdf,07-01354-Submittal-2007 Income Limits
Chart.pdf,07-01354-Submittal-Development Article.pdf,
History of Legislative File
Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result:
1
City Commission 11/9/2007 DISCUSSED
City ofMiami Page 1 Printed on 4/19/2017