Recently, the Florida Senate passed a bill to increase the state’s affordable housing supply. This is good news for many Floridians struggling to find affordable housing in a state that has experienced a surge in population growth over the past few years. This blog post will examine the bill and what it means for affordable housing in Florida.
The bill, SB 148, was passed by the Florida Senate with a vote of 37-1. The bill is designed to increase the supply of affordable housing in the state by making it easier for developers to build affordable housing units. It does this by providing tax incentives to developers building affordable housing units and streamlining the permitting process for housing projects.
The bill also includes a provision allowing local governments to require developers to have affordable housing units in their projects. This is a significant change from current law, which prohibits local governments from requiring developers to include affordable housing units.
The bill has received widespread support from various groups, including the Florida Realtors Association and the Florida Housing Coalition. These groups believe the account is a step in the right direction for affordable housing in Florida, which has become increasingly expensive over the past few years.
One of the primary reasons why affordable housing has become so difficult to find in Florida is due to the state’s population growth. Florida has been one of the fastest-growing states in the country, with many people moving to the state for its warm weather, beaches, and job opportunities. This growth has strained the state’s housing supply, leading to a need for more affordable housing units.
The passing of SB 148 is an essential step in addressing this shortage. By providing tax incentives and streamlining the permitting process for affordable housing projects, developers will be more likely to build affordable housing units in Florida. This will help to increase the supply of affordable housing, making it easier for people to find affordable housing options in the state.
Overall, the passing of SB 148 is a positive development for affordable housing in Florida. While there is still more work to address the state’s affordable housing shortage, this bill represents an important step in the right direction. With continued support and investment in affordable housing, Florida can ensure all its residents can access safe, affordable housing options.