Broward County Voters Approve Creation Of An Affordable Housing Trust Fund

Nov 6, 2018

Voters in Broward County decided Tuesday to create a dedicated trust fund for affordable housing programs.

The trust fund creates a localized version of the state's affordable housing fund, the Sadowski Fund. But unlike the Sadowski fund, money in Broward's fund must be used exclusively on housing projects and programs. 

Future county commissions can choose how much money to contribute each year, but will not be forced to contribute a specific amount. 

 

Broward is the most cost-burdened metro area in the country, which means the majority of residents pay well over 30 percent of their income solely on housing. It's often more than 50 percent. 

Researchers at Florida International University estimate that Broward needs 100,000 new units just to meet current demand.

The idea behind the fund was to create a 'lock box' that would safeguard money earmarked only for lower-rent housing developments, first-time home buyer assistance programs, and small home rehab and repair programs.

Read More: Broward County's Affordable Housing Trust Fund, Explained

The amendment needed a simple majority to pass, and it got more than 72 percent of the vote. 

The Broward County Charter Review Commission  had 11 questions in total on the ballot this election cycle, including questions about changing Broward's redistricting process, which passed by more than 73 percent, and whether the inspector general should have discretion to begin an investigation instead of mandates. That also passed by more than 67 percent.