Affordable Housing Strategy , Understanding, Solutions
-
Upload
isadora-cooley -
Category
Documents
-
view
29 -
download
3
description
Transcript of Affordable Housing Strategy , Understanding, Solutions
Affordable Housing
Strategy, Understanding, Solutions
Affordable Housing- Emerging Trends | 2
Challenge: Land Use Challenge: Land Use (US)(US)
Decreasing densities & inefficient land Decreasing densities & inefficient land useuse From 1982 – 1997:From 1982 – 1997:
Population densities Population densities in > 80% of 281 major U.S. in > 80% of 281 major U.S. metro areasmetro areas
Urbanized land Urbanized land by 47%, while U.S. population by 47%, while U.S. population only only by 17% by 17%
From 1900 – 2000:From 1900 – 2000:1 person households 1 person households from 5% to 26% from 5% to 26%Since WWII, Since WWII, family size while family size while home size home size
Affordable Housing- Emerging Trends | 3
Challenge: Land Use Challenge: Land Use (FL)(FL)
Florida’s land area = 42% agricultural & urbanFlorida’s land area = 42% agricultural & urban 450-acres forest & 410-acres farmland cleared to 450-acres forest & 410-acres farmland cleared to
make room for ~ 1,000 new residents/daymake room for ~ 1,000 new residents/day From 1982 – 1997:From 1982 – 1997:
Urbanized land Urbanized land 34% nationally 34% nationally Urbanized land Urbanized land 58% in Florida 58% in Florida
Human activity has destroyed over 1/3 of Human activity has destroyed over 1/3 of Florida’s native habitatsFlorida’s native habitats
Affordable Housing- Emerging Trends | 4
Challenge: Population Challenge: Population (FL)(FL)
Florida Population:Florida Population: 1980 ~ 10,000,0001980 ~ 10,000,000 2005 ~ 17,000,0002005 ~ 17,000,000 2030 ~ 28,000,0002030 ~ 28,000,000
% % (1930 – 2000) (1930 – 2000) U.S. Average ~ 230%U.S. Average ~ 230% Miami-Dade ~ Miami-Dade ~
1,800%1,800% Broward ~ 8,000%Broward ~ 8,000%
Affordable Housing- Emerging Trends | 5
Challenge: Population Challenge: Population (TC)(TC)
Martin, St. Lucie and Martin, St. Lucie and Indian River CountiesIndian River Counties The Treasure Coast is The Treasure Coast is
predicted to grow by predicted to grow by 60 percent between 60 percent between now and 2030, now and 2030, bringing the total bringing the total population to population to 720,000. 720,000.
Affordable Housing- Emerging Trends | 6
Challenge/Opportunity: Challenge/Opportunity: DRIs (TC)DRIs (TC)
~ 89,000 New Homes~ 29,000,000 s.f. of Commercial
Space
Affordable Housing- Emerging Trends | 7
Challenge: Housing Challenge: Housing (FL)(FL)
Florida Building Florida Building Permits – Single Permits – Single Family Detached:Family Detached: 2002 ~ 127,0002002 ~ 127,000 2003 ~ 155,0002003 ~ 155,000 2004 ~ 185,0002004 ~ 185,000 2005 ~ 204,0002005 ~ 204,000
#1 in U.S. 12 out of #1 in U.S. 12 out of Last 14 yearsLast 14 years
St. Lucie CountySt. Lucie County
Taking home the baconTaking home the bacon
Affordable Housing- Emerging Trends | 9
Median Income Median Income
Income Income LevelsLevels
Moderate Moderate income: income:
80% -120% 80% -120% AMIAMI
$43,680 - $43,680 - $65,520$65,520
Low income: Low income: 50% - 80% 50% - 80% AMI AMI
$27,300 - $27,300 - $43,800 $43,800
Very low Very low income: income:
30%-50% AMI 30%-50% AMI $16,380 - $16,380 - $27,300 $27,300
Extremely low Extremely low income: income:
Less than 30% Less than 30% of AMI of AMI
>$16,380 >$16,380
Median Income for a family of four in the Fort–Pierce/ St. Lucie Metropolitan Study Area is Median Income for a family of four in the Fort–Pierce/ St. Lucie Metropolitan Study Area is
$54,600$54,600
Affordable Housing- Emerging Trends | 10
Adjusted SalariesAdjusted Salaries
Occupation – Occupation – Entry LevelEntry Level
80-120% of 80-120% of AMIAMI
50-80% of 50-80% of AMIAMI
30-50% of 30-50% of AMIAMI
Civil Engineer Civil Engineer $58,201 $58,201
Teacher Teacher $32,500 $32,500
Bank Loan Bank Loan Officer Officer
$31,767 $31,767
Retail Sales Retail Sales Person Person
$25,000 $25,000
Affordable Housing- Emerging Trends | 11
Housing Affordability Housing Affordability AreaArea
Medium Medium IncomeIncome
AMIAMI
Maximum Maximum AffordableAffordable
Purchase PricePurchase Price
Required Required family income family income level to belevel to bedefined as defined as affordableaffordable
Property Property Taxes Taxes (Per St. Lucie (Per St. Lucie County County Property Property Appraisers)Appraisers)
ApproximateApproximate
InsuranceInsurance
CostCost
MortgageMortgage
Payments Payments 7% interest7% interest
for 30 yearsfor 30 years
Total Total Monthly Monthly PaymentPayment(30% of Gross)(30% of Gross)
60% 60% $94,000 $94,000 $32,772$32,772 $1,100$1,100
$91 per month $91 per month $1,000$1,000
$83 per month$83 per month $625 $625 $819 $819
80% 80% $124,000 $124,000 $43,480 $43,480 $1,750$1,750
$146 per month $146 per month $1,600$1,600
$133 per month$133 per month $825 $825 $1096 $1096
100% 100% $143,780 $143,780 $54,600 $54,600 $2,550$2,550
$208 per month$208 per month $2,350$2,350
$192 per month$192 per month $958$958
$1,366 $1,366
120% 120% $179,725 $179,725 $62,940 $62,940 $2,826$2,826
$235 per month$235 per month $2,200$2,200
$183 per month$183 per month $1,164 $1,164 $1,582 $1,582
175%175% $257,500$257,500
2005 St Lucie 2005 St Lucie Co. Co.
$94,840$94,840 $4,400$4,400$367 per $367 per monthmonth
$3,500 $3,500 $292 per $292 per monthmonth
$1,712$1,712 $2,372$2,372
Affordable Housing- Emerging Trends | 12
Wage Vs Home PricesWage Vs Home Prices
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
1998 1999 2004 2005 2006
Average Median Income
Average Median HomeSales Price
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
2006 2007 2008 2009 2010 2011 2012
Wages (increase of 6.75% peryear)
Home price (appreciation of 3%per year)
Existing Existing ProgramsPrograms
The path more traveled?The path more traveled?
Affordable Housing- Emerging Trends | 14
National ProjectsNational Projects
Affordable Housing- Emerging Trends | 15
National ProjectsNational Projects
Affordable Housing- Emerging Trends | 16
SolutionsSolutions
Affordable Housing- Emerging Trends | 17
CLT’s andCLT’s and Inclusionary Inclusionary
ZoningZoning
A A CCommunity ommunity LLand and TTrust (CLT) is a rust (CLT) is a private non-profit corporation created to private non-profit corporation created to acquire and hold land for the benefit of acquire and hold land for the benefit of a community and provide secure a community and provide secure affordable access to land and housing affordable access to land and housing for community residents.for community residents.
Affordable Housing- Emerging Trends | 18
What will it do?What will it do?
Gain control over local land use and reduce Gain control over local land use and reduce absentee ownership.absentee ownership.
Provide affordable housing for lower-income Provide affordable housing for lower-income residents in the community.residents in the community.
Promote resident ownership and control of Promote resident ownership and control of housing.housing.
Keep housing affordable for future residents.Keep housing affordable for future residents. Capture the value of public investment for Capture the value of public investment for
long-term community benefit.long-term community benefit. Build a strong base for community action.Build a strong base for community action.
Affordable Housing- Emerging Trends | 19
Inclusionary ZoningInclusionary Zoning
Affordable Housing- Emerging Trends | 20
LLocal governments enact inclusionary zoning ocal governments enact inclusionary zoning to require or establish a voluntary goal for to require or establish a voluntary goal for new residential developments to earmark a new residential developments to earmark a proportion of housing units for lower-income proportion of housing units for lower-income households.households.
Section Five (5), Housing Element, of the St. Section Five (5), Housing Element, of the St. Lucie County Lucie County CComprehensive Plan, establishes omprehensive Plan, establishes the County’s goals and methods to provide the County’s goals and methods to provide housing that meets the needs of existing and housing that meets the needs of existing and future St. Lucie County residentsfuture St. Lucie County residents. .
Affordable Housing- Emerging Trends | 21
Initial Goals Initial Goals
It is hoped that over a ten year It is hoped that over a ten year period approximatelyperiod approximately 4,353 workforce housing units will be 4,353 workforce housing units will be
createdcreated with potentially 4.35 million dollars with potentially 4.35 million dollars
directed to a Community Land Trustdirected to a Community Land Trust
Affordable Housing- Emerging Trends | 22
Where we are today?Where we are today?
Draft documents Draft documents have been producedhave been produced
A consultant has A consultant has been retained to been retained to finalize all finalize all documentsdocuments
We still have a long We still have a long road ahead!road ahead!
Affordable Housing- Emerging Trends | 23
Need More?Need More?
Please contact Jp Gellermann atPlease contact Jp Gellermann at
772-462-1660 or email at 772-462-1660 or email at [email protected]@ifas.ufl.edu