South Florida stands to see a multimillion-dollar infusion from the state to make housing more affordable as part of a new effort to tackle the affordability crisis that’s stretching many paychecks thin.
Gov. Ron DeSantis signed SB 102, also known as the “Live Local Act,” into law last week, effectively redirecting tax revenue for affordable housing over the next 10 years and offering various incentives to developers to create more affordable housing.
A total of $711 million is supposed to go toward funding affordable housing across the state of Florida. For the most part, leaders and advocates in South Florida feel the new effort is an important step in helping address an affordability crisis that is fueling homelessness and forcing local residents to sacrifice on basic necessities to make rent.
