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RESOLUTION URGING THE FLORIDA LEGISLATURE NOT TO MAKE FURTHER CUTS TO SADOWSKI ACT FUNDING AND OTHER STATE AFFORDABLE HOUSING FUNDING

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WHEREAS, finding affordable housing continues to be difficult for low and moderate-income families in Miami-Dade County and across the State of Florida; and
WHEREAS, federal housing programs, especially those that typically serve individuals with the lowest incomes, have experienced significant budget reductions in recent years, placing increasing pressure on state and local governments to provide affordable housing assistance; and
WHEREAS, the State of Florida receives documentary stamp tax revenues on deeds and mortgages, a portion of which are deposited into the State Housing Trust Fund and the Local Government Housing Trust Fund for the purpose of funding affordable housing; and
WHEREAS, during the recently-concluded 2009 Special Session A, the Florida Legislature diverted $190 million from affordable housing funds administered by the Florida Housing Finance Corporation (FHFC) to the state�s general revenue fund to help close a $2.3 billion budget gap; and
WHEREAS, housing expenditures are heavily leveraged with private sector equity, bank loans, and federal funds, bond allocation, and tax credits; and
WHEREAS, FHFC estimates that, on average, each $1 million of state funding creates over $6 million of housing, over $10 million in total economic activity, and hundreds of jobs; and
WHEREAS, it is estimated that the diversion of $190 million in affordable housing funds from affordable housing programs to the state�s general revenue fund cost Florida�s economy $1.3 billion in total economic activity, 13,000 jobs, and will reduce significantly the number of affordable rental units so badly needed by Floridian�s who have lost their homes in the foreclosure crisis; and
WHEREAS, FHFC has indicated that it cannot meet the $190 million fund reduction without taking funds from the State Apartment Incentive Loan (SAIL) program, the Community Workforce Housing Innovation Pilot (CWHIP) program, and other affordable housing funds; and
WHEREAS, FHFC estimates that approximately 36 developments with a combined total of 4,000 affordable rental units in 17 counties could be impacted by the $190 million cut; and
WHEREAS, the Florida Legislature will return in March for the 2009 regular session, and current projections indicate that the Legislature will need to close another budget gap as high as $4 billion; and
WHEREAS, there is still over $100 million left in Florida�s affordable housing trust funds after the recent $190 million fund diversion, all or part of which is highly susceptible to being diverted by the Legislature during 2009 regular session; and
WHEREAS, it is imperative that no further affordable housing funds be taken to close the state�s general revenue budget gap at a time when the need is great not only for affordable housing, but also for economic stimulus derived from the construction of affordable housing,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board:
Section 1. Urges the Florida Legislature not to make any further cuts to Sadowski Act funding and other affordable housing state funding.
Section 2. Directs the Clerk of the Board to transmit a certified copy of this resolution to the Governor, the Senate President, the House Speaker, the Chair and Members of the Miami-Dade County State Legislative Delegation and the Executive Director of the Florida Housing Finance Corporation.
Section 3. Directs the County's state lobbyists to work against any further cuts to Sadowski Act funding and other affordable housing state funding as set forth in Section 1 above, and directs that the 2009 State Legislative Package be amended to include this item.