Miami-Dade Legislative Item
File Number: 093084
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File Number: 093084 File Type: Resolution Status: Adopted
Version: 0 Reference: R-1438-09 Control: Board of County Commissioners
File Name: AFFORDABLE HOUSING TRUST FUNDS Introduced: 11/19/2009
Requester: NONE Cost: Final Action: 12/15/2009
Agenda Date: 12/15/2009 Agenda Item Number: 11A2
Notes: Title: RESOLUTION URGING THE FLORIDA LEGISLATURE TO ELIMINATE THE CAP ON STATE AND LOCAL AFFORDABLE HOUSING TRUST FUNDS AND TO INCREASE FUNDING FOR AFFORDABLE HOUSING
Indexes: LEGISLATURE
Sponsors: Katy Sorenson, Prime Sponsor
  Sally A. Heyman, Co-Sponsor
  Rebeca Sosa, Co-Sponsor
  Audrey M. Edmonson, Co-Sponsor
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 12/15/2009 11A2 Adopted P

County Attorney 11/19/2009 Assigned Jess M. McCarty

Legislative Text


TITLE
RESOLUTION URGING THE FLORIDA LEGISLATURE TO ELIMINATE THE CAP ON STATE AND LOCAL AFFORDABLE HOUSING TRUST FUNDS AND TO INCREASE FUNDING FOR AFFORDABLE HOUSING

BODY
WHEREAS, the William E. Sadowski Affordable Housing Act of 1992 created a dedicated revenue source through documentary stamp tax revenues to fund state and local affordable housing programs; and
WHEREAS, these revenues are deposited into the State Housing Trust Fund and the Local Government Housing Trust Fund (collectively “the State and Local Housing Trust Funds”) for the purpose of funding affordable housing; and
WHEREAS, during the 2005 session, the Florida Legislature passed Chapter 2005-92, Laws of Florida (HB 1889), which among other things, capped at $243 million the amount of annual documentary stamp tax revenues cap that could be distributed to the State and Local Housing Trust Funds and diverted remaining revenues to the state general revenue fund starting July 1, 2007; and
WHEREAS, because documentary stamp tax revenues are tied to deeds and mortgages, these revenues increased significantly beyond the cap when Florida’s real estate market experienced a high level of growth, but now such revenues have fallen below the cap; and
WHEREAS, projected revenues for the State and Local Housing Trust Funds currently fall below the cap for at least the next three fiscal years, and as such removing the cap would have no negative fiscal impact on the state budget in the near term; and
WHEREAS, the unmet housing needs of low and moderate income Floridians are substantial and the current downturn in the real estate market presents opportunities for the acquisition, construction and rehabilitation of affordable housing to meet these needs; and
WHEREAS, increased funding for affordable housing is critically needed not only to provide additional affordable housing, but also to stimulate our local and state economy; and
WHEREAS, affordable housing can be a significant boost to the economy, providing $7.66 million of economic impact for every $1 million of state funding according to some estimates; and
WHEREAS, these opportunities are lost without the Legislature increasing funding for affordable housing programs,
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 to eliminate the cap on State and Local Housing Trust Funds and to increase funding for affordable housing.
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, and the Chair and Members of the Miami-Dade County State Legislative Delegation.
Section 3. Directs the County's state lobbyists to advocate for the passage of the legislation set forth in Section 1 above, and authorizes and directs the Office of Intergovernmental Affairs to include this item in the 2010 State Legislative Package.



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