Miami-Dade launches building fund for affordable housing – CBS Miami

MIAMI (CBSMiami) – Another step to help tackle the housing crisis in Miami-Dade.

On Friday, Mayor Daniella Levine Cava launched the new $70 million Building Blocks Fund. The county is committing $15 million to the fund while the other $55 million comes from commitments from private and nonprofit partners.

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“Our county is facing an affordability crisis, and my administration is working tirelessly to ensure that all residents can continue to live, work and thrive in Miami-Dade,” Levine Cava said.

The money raised will go to affordable housing developers who have projects underway but lack the cash to complete the buildings they are working on.

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Levine Cava said it was an open-ended fund and challenged others to join and donate.

The mayor also pointed out that they have expanded the ERAP program to provide more relief to people while speeding up construction to create more housing supply.

“We will work through this program and this fund to secure housing solutions, to ensure that everyone in Miami-Dade County can live, work and thrive here,” Levine Cava said.

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As for where the new affordable housing buildings will be built, that will depend on the developers. The county said these projects will target the workforce, those earning 80 to 110 percent of the average median.