Affordable Housing Initiative The Miami Coalition for the Homeless is launching an affordable housing initiative Miami Homes for All® (MHFA) to stimulate the development of rental housing affordable to extremely low-income (ELI) households as part of a mixed-income development. A pressing housing-related issue currently affecting Miami-Dade County is the substantial lack of affordable rental housing for ELI households. According to the Shimberg Center for Housing Studies, for every 100 ELI renter households in Miami-Dade County there are only 33 units currently affordable and available to them. Due to this severe shortage of affordable units and limited household income, most ELI renter households in the Miami area spend more than half of their income on housing costs making them increasingly vulnerable to homelessness. MHFA seeks to significantly increase the supply of rental housing affordable to ELI households by establishing a loan pool to finance the development of mix-income housing with 20% of units set-aside for ELI households. Working with funders, developers, and public agencies, MHFA will provide low interest loans to developers to incentivize the production of affordable rental housing development for ELI households and help to drastically reduce the risk of homelessness for ELI families in Miami-Dade County.
On May 6, 2015, MCH hosted the Homes for All® Housing Summit to discuss how to increase affordable housing in Miami-Dade County. The speakers included Miami-Dade County and City of Miami mayors, other high-ranking government officials, and various organization and corporation leaders. The attendees then took what they heard from the speaks and their previous knowledge from working in their various fields to strategize policy priorities focused on creating more affordable housing. These policy priorities were then presented before the County Commissioners at the Economic Prosperity Committee meeting May 14th. We hope that these policies, ranging from local, state, and federal levels, will direct our county in the right direction to creating and increasing more affordable housing.