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Housing Not So Affordable

February 25th, 2014 by flanews

In 1992 state lawmakers raised the doc stamp tax on real estate transactions from 60 to 70 cents on every 100 dollars. The cash was to be used for affordable housing. But when the great recession hit, lawmakers started using the money for everything but housing. Advocates say it’s now time for the state to fulfill its promise.

Ten cents of the tax on every 100 dollars of real estate sold is supposed to be used for affordable housing. This year there is almost three hundred million in the trust fund. Yet, on the eve of the legislative session, there are recommendations that none of it be spent on housing.

“We have over nine hundred thousand families who are very low income, who are spending more than half of that income on their housing,” said Jaimie Ross of Sadowski Housing Coalition.

A coalition of bankers, builders, the Chamber and others think that spending the money on housing would create more than 27 thousand jobs. “We buy lumber, concrete and other supplies from local businesses,” said Florida Home Builders Association’s President Rob Lieberman.

The problem began growing when the great recession hit and lawmakers spent about 80 percent of the money elsewhere.

“We’re asking that the money that has been statutorily dedicated for housing be used for housing in a year when we have plenty of money to do so,” said Ross.

In addition to helping the poor, the program is also designed to help teachers, fire fighters and police from being priced out of the housing market.

70 percent of the spending is decided locally by sustainable housing groups in every county. In rural Gadsden County, the waiting list grows longer every day.

“I just have to put people on a waiting list to even make application,” said Phyllis Moore of Gadsden County Sustainable Housing Initiative. In Gadsden County alone, more than 200 people have been put on a waiting list since 2011. Since its inception, the program has spent more than $3 billion dollars on housing.

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