A town in Florida is paying another town to fulfill their affordable housing requirements.
The City of Southwest Ranches in Florida is trying to buy its way out of its state affordable housing requirements by paying $25,000 a year to another town 10 miles away. The City's actions are fueled by its "infuriated residents who demand cheaper houses and apartments be kept out." Some believe that this precedent could start a trend as land values throughout South Florida increase."As part of an obligation to become a town, under state law, Southwest Ranches must address affordable housing and provide 178 lower-priced houses or apartments....For the state to approve of the pact, however, Southwest Ranches has to prove its property values are too high to make affordable housing economically practical....Even if the state rejects the agreement, Southwest Ranches Mayor Mecca Fink vowed apartments would never appear in her city."
Thanks to Connie Chung
FULL STORY: SW Ranches wants to pay N. Lauderdale to take its affordable housing quota
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Economic & Planning Systems, Inc.
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research