Florida & Gulf Coast + Florida + Finance | March 29, 2023

DeSantis Signs $711M Affordable Housing Package into Law

Florida Gov. Ron DeSantis on Wednesday signed Senate Bill (SB) 102, the Live Local Act, representing the largest investment for housing efforts in state history. The bill will invest $711 million through the Florida Housing and Finance Corporation (FHFC) into multiple programs to expand the availability of housing, down payment assistance and focused support for military communities.

The funding includes the following:

$259 million to provide low interest loans to developers building workforce housing, with .$150 million of these funds recurring for certain specified uses.

$252 million to provide local governments with incentives to build partnerships with developers who are preserving available housing or producing more housing.
$100 million for the Florida Hometown Heroes Housing Program to provide down payment and closing cost assistance to first-time home buyers with a focus on law enforcement, first responders, teachers, active-duty military, and military veterans.

$100 million to implement a loan program to alleviate inflation-related cost increases for FHFC-approved housing projects

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Gov. DeSantis' office

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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