| 1 | A bill to be entitled |
| 2 | An act relating to affordable housing; requiring certain |
| 3 | developers to provide affordable housing; providing |
| 4 | locations where the developer must provide the housing; |
| 5 | authorizing the developers to make payment to the Florida |
| 6 | Affordable Housing Trust Fund in lieu of providing |
| 7 | affordable housing; providing the Department of Business |
| 8 | and Professional Regulation with certain powers and |
| 9 | responsibilities; providing an effective date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
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| 13 | Section 1. Developers of new housing projects consisting |
| 14 | of residential developments of 10 or more housing units are |
| 15 | required to provide and develop 10 percent of each new project |
| 16 | as affordable housing. If the affordable housing portion of the |
| 17 | project is not developed on the same site as the new housing |
| 18 | project, the affordable housing portion must be developed at |
| 19 | another location within the same county. A developer, in lieu of |
| 20 | building affordable housing units in accordance with this act, |
| 21 | may make a monetary payment to the Florida Affordable Housing |
| 22 | Trust Fund. Affordable housing units must conform to the same |
| 23 | standards of quality as all of the units being constructed in |
| 24 | the residential development. The Department of Business and |
| 25 | Professional Regulation shall be responsible for the following: |
| 26 | (1) Enforcing developers' and builders' compliance with |
| 27 | the provisions of this act as they plan new residential |
| 28 | developments. |
| 29 | (2) Establishing and providing density bonuses and other |
| 30 | incentive programs as partial compensation for producing |
| 31 | affordable housing units. |
| 32 | (3) Defining the affordable level of housing prices or |
| 33 | rents for the affordable housing being developed pursuant to |
| 34 | this act. |
| 35 | (4) Establishing income limits to determine households |
| 36 | eligible for affordable units based on the range of the regional |
| 37 | median household income. |
| 38 | (5) Establishing a period during which resale prices or |
| 39 | rental increases are controlled to maintain the supply of |
| 40 | affordable housing. |
| 41 | (6) Providing guidelines for the location and design of |
| 42 | affordable units within market-rate development. |
| 43 | (7) Identifying a division, agency, or other entity within |
| 44 | the department that will be responsible for monitoring the |
| 45 | condition and turnover of units developed pursuant to this act. |
| 46 | (8) Establishing the amount of the payment that developers |
| 47 | must make to the Florida Affordable Housing Trust Fund to |
| 48 | relieve themselves of the affordable housing requirement. |
| 49 | Section 2. This act shall take effect July 1, 2006. |