ORLANDO, Fla. – In an effort to tackle the affordable housing crisis in Florida, the state legislature in 2023 passed the “Live Local Act.”
The act, which Gov. Ron DeSantis signed into law, provides incentives to get more private investment in affordable housing.
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It also encourages mixed-used development in struggling commercial areas.
Under the provisions of the plan, tax exemptions are available for developments that set aside at least 70 units for affordable housing. It also speeds permits and development orders for affordable-housing units.
It also created the Florida Hometown Hero down payment assistance program to help some first-time homebuyers who are employed by a Florida-based employer, such as a law enforcement agency or a public school district.
While the law garnered near bipartisan support in the Florida Legislature, Democrats criticized the fact that the law also preempted several local government controls on housing, including rent control.
However, the law did allow communities to opt out of the tax exemption for affordable housing if they decide there is enough affordable housing in the community. Several local governments have already taken advantage of this, including Lake County.
To read the law, head to the Florida Senate website.
News 6 anchor Justin Warmoth talked to Ryan Von Weller with Wendover Housing Partners about how the law would help fix the housing shortage last year. You can watch the interview here.
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