Miami-Dade Proposes $800M Affordable Housing Bond Package

Miami-Dade Proposes $800M Affordable Housing Bond Package

Miami-Dade’s Mayor Seeks Voter Approval for $800M Affordable Housing Bond Package
Mayor Daniella Levine Cava of Miami-Dade County plans to present a new property tax-backed debt package to voters later this year. The proposed bond package, totaling $800 million, aims to finance affordable housing projects.

Over the past five years, home prices in the Miami area have increased by 82% due to an influx of wealthy residents. This has made it difficult for lower-income individuals and families to find affordable housing options. Despite a stable population since 2020, Miami-Dade county has seen a rise in traffic congestion and one of the highest rates of rent-burdened individuals in the nation.

Many cities across the US are also turning towards bond markets as a solution for their own affordable housing challenges. Places like Telluride, Nantucket, and New York have all sought voter approval for additional funding towards addressing this issue.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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