First Memo:
Affordable Housing Strategy |
1.
IMPLEMENT
MANDATORY INCLUSIONARY ZONING POLICY: Require developers
of larger projects to provide workforce housing units. Developers would
be given incentives and density bonuses. Editors Note: CLICK HERE to learn more
2.
CREATE COMMUNITY LAND TRUST: Implement a "Community Land
Trust"
program to provide' a mechanism to mitigate the ever increasing cost of
land and its impact on the cost of affordable housing. Through the
acquisition and provision of land for development a trust could provide
some assurance that as affordable housing is developed it will remain
affordable for the long term. Editor's
Note: CLICK
HERE to learn more
about community land trusts
3. IMPLEMENT THE HOUSING PORTION OF THE GOB PROGRAM: The "Building
Better Communities" portion of the General Obligation Bond (GOB)
program includes $194,997 million to construct and improve affordable
housing for elderly and families and to encourage homeownership through
the acquisition, construction and renovation of residential units. This
total funding allocation is projected to produce up to 1,291 units of
affordable housing for elderly and families. Editor's Note: CLICK HERE to go to
a County's website with information on the GOB program.
4.
ALLOW GREATER DENSITY: Amend CDMP to allow greater density
in
neighborhoods to provide affordable housing. Upon adoption these CDMP
amendments will provide policies for (a) implementation of a mandatory
Inclusionary Zoning Policy, (b) the development of strategic areas
(along major roadway corridors and at certain major roadway
intersections) with higher density residential development, and (c) the
development of lots in infill neighborhoods, where previously such lots
had been considered too small. Editor's Note: CLICK HERE to view FIU study on incentives for removing barriers to redevelopment of poor communities
5.
HOUSING LINKAGE PROGRAM: Create a housing linkage program
which
would require applicable commercial and industrial projects that
generate a need for affordable housing to make a monetary contribution
to a housing fund to offset the affordable housing impacts created by
their workforce. The fund will be managed by the County and utilized to
provide affordable and workforce housing units. Editor's Note: CLICK
HERE for more information on how linkage programs work
6.
DEVELOP AFFORDABLE HOUSING ON COUNTY OWNED LAND: seek
joint
development opportunities with the private sector to develop affordable
housing in conjunction with the development of county-owned property.
this effort includes the formation of an interdepartmental work group
that will, on an ongoing basis, proactively research, review, and
recommend specific opportunities for joint development opportunities
involving County land.
7.
EXPAND COUNTY'S INFILL HOUSING PROGRAM: Expand
Infill
Housing program to include the compilation of a comprehensive list of
all vacant lots within the County that are publicly and privately
owned. Such a list should be used to identify land that could be
acquired for development through foreclosure due to delinquent taxes
and/or liens. In addition, we will re-evaluate the performance of
agencies involved in the in-fill program and revise procedures to
expedite the conveyance of land to organizations that are performing
and producing affordable infill housing units on a timely basis. Editor's Note: CLICK HERE for the
Coalition's "report card" on the
County's Infill Housing Initiative.
8.
ENGAGE THE BANKING AND FINANCIAL COMMUNITY: Engage lenders
in an
ongoing discussion with the Miami- Dade Housing Agency and the
Miami-Dade Housing Finance Authority relative to underwriting and
credit standards, technology solutions, as well as the development of
financial products in an effort to maximize the financing options
available to potential first-time homebuyers through conventional and
other lenders. This effort could serve to further the leverage provided
through the various subsidy programs the County funds to assist home
purchasers. Editor's
note: CLICK HERE to
view a "whitepaper" submitted to the
County by a group of lenders with suggestions on how it can improve the
its homeownership loan programs.
9. TAX
RELIEF FOR AFFORDABLE HOUSING: Provide tax relief for
affordable
rental complexes. Such relief that includes reduced property tax
valuations will be pursued through the use of land covenants and/or
parcel specific deed restrictions between the County and property
owners who would pledge to keep existing or new rental units in the
affordable or workforce targeted income ranges for a specified number
of years into the future. In consideration for such a covenant or deed
restriction the valuation of the property for tax purposes would be
based on the property specific limitations. State legislative action
will be required for this recommendation.
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Second Memo:
Property
Tax Relief |
1.
SENIORS
FREEZE
THE
ASSESSED VALUATION FOR PROPERTIES WITH SENIOR HOMESTEAD EXEMPTION.
This measure would eliminate the authorized `save our homes" annual
assessment increase of three (3) percent or the CPI, whichever is less
and would provide approximately $60.00 of direct property tax relief
for each senior claiming senior homestead exemption based on 2005 tax
rates. There would be minimal fiscal impact to County (estimated at
$1.3 million). This action requires a constitutional amendment by which
three-fifths of the State Legislature House and Senate would need to
agree by joint resolution and then submit it to the electors of the
state at the next general election.
INCREASE THE MINIMUM
HOUSEHOLD INCOME LEVEL TO QUALIFY FOR SENIOR
HOMESTEAD EXEMPTION. Increase the annual household income
limitation
requirement from its current level of approximately $23,260 to $25,000.
This measure would enable more seniors to qualify and take advantage of
the additional $25,000 homestead exemption. The fiscal impact to the
County would be approximately $1.5 million. This action requires a
constitutional amendment by which three-fifths of the State Legislature
House and Senate would need to agree by joint resolution and then
submit it to the electors of the state at the next general election.
DEVELOP
A PORTABLE HOMESTEAD EXEMPTION PROGRAM FOR THE SENIORS.
This
would provide a one-time transfer of the assessed value cap on the
present homestead to new "downsized' less expansive replacement home
for seniors ages 55 or older or those who have a total or permanent
disability. This would allow homeowners the opportunity to "downsize'
without incurring a potential increase in property taxes. The fiscal
impact of such a proposal would be minimal. This action requires a
constitutional amendment by which three-fifths of the State Legislature
House and Senate would need to agree by joint resolution and then
submit it to the electors of the state at the next general election.
IMPROVE
CURRENT HOMESTEAD TAX DEFERRAL PROGRAM FOR SENIORS. This
recommendation would reduce the senior age requirement from 70 years of
age to 65 and increase the minimum household income level for seniors
from $12,000 to equal the minimum household income requirement for
senior homestead exemptions (approximately $23,260 today or if it
increased, $25,000). By reducing the senior age requirement and
increasing the minimum household income level, more seniors will be
able to qualify for the tax deferral program. Deferred taxes are
secured by a lien on the property held by the County and in this sense,
the program functions as a loan to be repaid with interest once taxes
become due and payable. The fiscal impact would not result in the
elimination of tax revenues, but rather a delay in the payment of taxes
(annual cash How). This action requires statutory amendment (not a
Constitutional amendment).
2.
RENTERS
ENCOURAGE
THE RETENTION AND PROVISION OF AFFORDABLE RENTAL HOUSING
THROUGH LOWER TAX VALUATIONS by the adoption of a measure
that would
enable the Property Appraiser to prepare lower tax valuations for
affordable rental housing properties. Lower tax valuations result from
recorded restrictive covenants (or other legally sufficient means)
limiting the use of the rental property to affordable housing for a
predefined period of years. The measure would reduce the possibility of
affordable rental housing owners converting their properties to market
rentals or condominiums by encouraging owners of affordable rental
housing to voluntarily limit the use of their properties by recorded
restrictive covenant (or other legally sufficient means). This measure
can be implemented at the County or municipal level.
3.
FIRST-TIME HOMEBUYERS
IMPLEMENT
A THREE YEAR PROPERTY TAX PHASE-IN FOR FIRST-TIME HOME
BUYERS. This measure would provide for full assessment of
qualified
properties for property taxes; however, in year one, two-thirds of
taxes due would be waived; in year two, one-third of taxes would be
waived; in year three, there would be no waiver of taxes. This action
requires a constitutional amendment by which three-fifths of the State
Legislature House and Senate would need to agree by joint resolution
and then submit it to the electors of the state at the next general
election.
4.
OTHER TAX
RELIEF AREAS
INCREASE
THE WIDOW,
WIDOWER, & DISABILITY EXEMPTION TO $5,000. This
would provide a meaningful tax savings to those homeowners who qualify
for this exemption. This action requires a constitutional amendment by
which three-fifths of the State Legislature House find Senate would
need to agree by joint resolution and then submit it to the electors of
the state at the next general election.
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