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 dedicating $15 million to the fund while the other $55 million comes from commitments from private and non-profit partners.
“Our county faces an affordability crisis, and my administration is working tirelessly to ensure that all residents can continue to live, work, and thrive in Miami-Dade,” said Levine Cava.
The money raised will go to affordable housing developers who have projects in the works but are lacking the money needed to complete the buildings they’re working on.
Levine Cava said this is an open-ended fund and has challenged others to join in and donate.
The mayor also pointed out that they have expanded the ERAP program to get people more relief along with accelerating construction to create more housing supply.
“We’re going to work through this program and this fund to ensure housing solutions, to make sure everyone in Miami-Dade County can live work and thrive here,” said Levine Cava.
As for where the new affordable housing buildings will be constructed, that will be up to the developers. The county said these projects will target the workforce, those making an income of 80 to 110 percent of the average median.