The U.S. government is providing almost $12 million to help residents pay rent and mortgages in south Florida, a place that has been called the epicenter of the nation’s affordable housing crisis.
The South Florida Times news site reported that the U.S. Department of Housing and Urban Development will provide $11.7 million for Miami-Dade County, which has seen housing prices and rents soar in recent months. Hillsborough County will see $2.8 million and Alachua County, home of Gainesville, will receive $1.8 million.
The funding dovetails with $500 million that Miami-Dade Mayor Levine Cava has proposed to spend to expand the affordable housing stock in the county. About $45 million will come from the federal COVID-19 American Rescue Plan and will be used to develop workforce housing, including subsidizing landlords who charge affordable rents, and providing mortgage and rent relief for residents, the news site reported.
Miami-Dade already has made more than $13 million in federal funding available for people struggling to pay rent in Miami-Dade.
Topics Mergers & Acquisitions Florida
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