Florida 2022 Budget Expands Funding For Affordable Housing

Affordable housing has become a hot issue as of late. Wages across the country have remained largely stagnant for years, at a time when housing costs have increased dramatically. This increases the financial burden many Americans face in trying to simply keep a roof over their heads. Studies and projects have been started, but there has been little widespread effort by state governments to really tackle the affordable housing crisis. Funding was further cut by the dramatic emergency measures needed to keep the country afloat during theCOVID-19 pandemic.

But now, as Governor DeSantis proposes his budget for the 2022 fiscal year, there is a surprising recommendation: to fully fund affordable housing projects at the cost of $423.3 million. The Center Square reports the recommendation is supported by a study that found that, for every dollar the state spent on affordable housing, $1.40 was returned to state and local government via tax revenue. The overall economic impact on the economy – including both housing and job creation – was estimated at $5 billion.

So what does this mean for struggling Florida families? The state government is working on long-term solutions to the affordable housing crisis. These projects will, however, take time to start providing relief directly to Florida families. This means that those facing eviction or foreclosure should get legal advice as soon as possible to explore their options for immediate relief. The second stimulus funding package has already authorized billions of dollars in emergency housing funds. Hundreds of millions of these dollars will be made directly available to Florida residents, but they must take action to access them. They must also protect their own legal rights when facing potential eviction or foreclosure. 

The experienced Oviedo and Casselberry eviction and foreclosure attorneys at Quattrochi, Torres, and Taormina are here to answer all your questions. Call 407.452.4918or contact us online today to schedule your free consultation.