Governor Ron DeSantis will approve $100 million for home purchase
Amid rising housing costs in many parts of Florida, DeSantis said during a news conference at the Cape Coral Police Department that the "Hometown Heroes" program is needed so people from various walks of life can live in or near the communities they serve. It will allocate part of the state budget for housing teachers, health workers and police officers.
“It really matters if they can afford to have a house here and live in the community and shop at the same store… and see everyone that if you have to travel from, like, far away, just because 45 minutes away is maybe where you can find a house that is affordable for you,” said DeSantis.
Lawmakers approved the program in March, though this and other budget issues have not been formally sent to DeSantis, who has line item veto power.
As he prepares to act on a proposed state budget, Gov. Ron DeSantis on Monday backed a new $100 million program to help people such as teachers, health-care workers and police officers buy homes. https://t.co/nBOk5ogOVE
– CBS4 Miami (@CBSMiami) May 23, 2022
The $100 million would be split from the $209 million allocated for the State Housing Initiative Partnership program, or SHIP. The SHIP program supports local government programs designed to encourage the construction of affordable housing and help low-income residents with repairs, down payments and closing costs.
While the money for the Hometown Heroes program won't be available until the start of the new fiscal year on July 1, Florida Housing Finance Corp. CEO Trey Price said eligible individuals can begin applying on July 1. of June.
The financing will offer borrowers up to 5 percent, with a maximum of $25,000, in first mortgage loans for down payment and closing cost assistance.
Florida is providing $100 million to provide down payments and closing cost assistance to more than 50 professions when buying their first home. Beneficiaries include police, nurses and teachers. pic.twitter.com/8j04fEoBjL
— Ron DeSantis (@GovRonDeSantis) May 23, 2022
“Hometown Heroes is the highest-income eligible program we will offer, allowing more middle-class working families to take advantage of these resources,” Price said.
DeSantis also said he will approve a total of $362,7 million in the affordable housing budget, which includes SHIP funding.
In addition, voters in November will consider a proposed constitutional amendment that would provide additional housing assistance to teachers, law enforcement officers, corrections officers, firefighters, emergency medical technicians, paramedics, child welfare service professionals, active duty military members, and Members of the Florida National Guard.
Under current law, homeowners may qualify for residential property tax exemptions on the first $25,000 of the property's appraised value. They may also qualify for homestead exemptions of $25,000 on value between $50,000 and $75,000. Any higher property value is subject to tax.
Miami Daily
Author: Patricia Chung 6:26 pm