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This year, about 71% of low-income Florida residents and 42% of middle-income residents are expected to be "cost burdened" — or spend more than 30% of their income on housing — according to ...
Therefore, if the owner of a $1,000,000 home sells that home and puts the money in a bank account, that money is still protected by the homestead exemption, so long as the homeowner has a bona fide intent to use it to purchase another home in Florida entitled to the exemption within a reasonable period of time.
Determining housing affordability is complex and the commonly used housing-expenditure-to-income-ratio tool has been challenged. In the United States [21] and Canada, [22] a commonly accepted guideline for housing affordability is a housing cost, including utilities, that does not exceed 30% of a household's gross income. [23]
The LIHTC, established in 1986, stands as a groundbreaking departure from the typical structure of supply-side housing programs, which primarily relied on subsidizing low-income housing. As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [33]
City Center Apartments, East Providence: $1.6 millionin low income housing tax credits, $1 million in Community Revitalization Program funds and $20.6 million in loans. 144 income-restricted units ...
For years, Orlando officials have been squirreling away general fund money into an account that one day could be used to subsidize affordable housing construction. Now, with an account totaling $9 ...
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