Florida’s most powerful business lobby is making affordable housing a priority for the upcoming session of the state’s legislature, which starts March 4.
Associated Industries of Florida will recommend moving money from the Sadowski Affordable Housing Trust Fund into action.
“You can’t cut funds or hold on if you’re going to bring back prosperity,” said AIF lobbyist Jose Gonzalez. “You have to invest.”
The Sadowski Fund’s money comes from a portion of the documentary stamps on each home purchase and, as Gonzalez says, “The purpose is for affordable housing.”
The AIF recommendation, written by its president Barney T. Bishop III, says “There are many houses uninhabited and people ready to buy them if they could receive help with closing costs and down payment assistance. Local governments ... have extensive lists of buyers-to-be that have been approved ...”
The initiative is backed by major business associations including the Florida Association of Realtors and the Florida Association of Home Builders.
“These are rainy day funds and it’s time to use them,” said Gonzalez. “The trust also was set up for this purpose and we will work against any legislative effort to raid the fund for other purposes.”
The AIF’s recommendations also call for using Department of Transportation Trust Fund dollars to accelerate the state’s road-building plans.
“When the residential home market is positioned to take off,” Bishop wrote, “we will be in better shape to meet its needs. Roads are the key because we need them first to facilitate all other economic development.”
— Fred Seely