September 2024 Edition
The Ledger is your source for the latest updates, stories, and insights on the Live Local Act (LLA) and its profound impact on affordable housing across Florida. Every month, we delve into the transformative projects, legislative updates and community voices that are shaping the future of housing for Florida’s workforce.
Stay informed with in-depth features on innovative developments, learn about implementation strategies of leading municipalities and explore the dynamic conversations within communities about urban planning and housing initiatives.
The Ledger is more than just a newsletter—it’s your gateway to understanding how policy and practice converge to create a more inclusive and affordable housing landscape in Florida.
Featured Story:
MMM Certification Portal Opens
As we head into fall, important deadlines are approaching for those seeking the 2025 Missing Middle Property Tax Exemption. Here’s what you need to know:
Sept. 30, 2024: The MMM Certification portal opens.
Dec. 19, 2024 (3 p.m. EST): Deadline for submissions to Florida Housing.
Jan. 1, 2025: Appropriate rents and tenants must be in place for the units under consideration.
Jan. 1 – Jan. 15, 2025 (3 p.m. EST): Owners must confirm or update their unit and rent list.
Feb. 15, 2025: Florida Housing will issue MMM Certification Notices.
March 1, 2025: Deadline to submit the required documents to the local property appraiser.
Keep in mind, the MMM Certification Notice does not guarantee the property tax exemption. The final decision rests with the local property appraiser. Additionally, receiving the exemption in 2024 does not guarantee it for 2025—owners must reapply annually.
Spotlight:
City of Kissimmee Joins Opt-Out List for Missing Middle Tax Exemptions (80-120% AMI)
Following Osceola County’s recent decision, Kissimmee has now opted out of offering property tax exemptions for multi-family housing projects affordable to households earning between 80-120% AMI of the County’s median income under the LLA. The City Council unanimously voted to reject the tax incentives, citing concerns over revenue losses. This opt-out move signals a growing trend in Central Florida and raises questions about the future of affordable housing projects in these regions.
With cities continuing to forgo the tax breaks, how will this impact developers and attainable housing initiatives in these areas? What are your thoughts?
Orange County Considers Creating Affordable Housing Plan & Opting Out of Live Local Tax Breaks
Orange County is exploring whether to opt out of the Live Local Act's tax incentives, instead focusing on a localized affordable housing plan. How do you think this will this affect future development and affordable housing projects in the area?
Do you have any suggestions for a local Orange County plan? Source
Development Round-Up:
Church Redevelopment Trends in South Florida
Developers Tal Levinson and Eric Malinasky have proposed a 500-unit residential project on a 3.2-acre church property in Fort Lauderdale, marking their third church redevelopment in the area. The project will consist of two six-story buildings with ground-floor retail, and the developers are considering leveraging LLA. This act offers tax breaks and zoning flexibility if 40% of the units are designated for households earning no more than 120% of the area median income, with income restrictions in place for 30 years. Source
Seminole Hard Rock Residential Project Proposal
A new 198-unit residential project is proposed near the Seminole Hard Rock Hotel & Casino in Hollywood, Florida. Spearheaded by developers Eloy Garcia and Nick Mendizabal, this 14-story building will include 6,000 square feet of commercial space and 277 parking spots. The development is set on a nearly 1-acre site, previously used as a car sales center, which was purchased earlier this year for $2.4 million. The project has received preliminary review from the city's Technical Advisory Committee and will undergo further review soon. Source
Little River Tower Progresses Under LLA
A new 28-story tower planned in Little River is moving forward under Florida's LLA. The Miami Building Department issued a demolition permit for the site on September 9, with the FAA reviewing a submission for a proposed structure height of 360 feet above ground. The project, set to include 454 residential units, will dedicate 182 of those units to Live Local affordable housing. Additionally, the development will feature 19,219 square feet of commercial space and a 7-level garage with 697 parking spaces.
At a July hearing, Miami's Urban Development Review Board (UDRB) recommended approval of the project, with some design enhancements, including improvements to the tower’s arches and glazing. The project is being developed by 8038 And 165 Owner LLC, with Arquitectonica as the architect. Source
This significant development continues to reflect how LLA is reshaping the Miami skyline and providing new opportunities for affordable housing.
What’s Next for Attainable Housing in Florida?:
The landscape of attainable housing under LLA is shifting as local governments respond to tax exemptions and zoning benefits. With taxing authorities like Kissimmee opting out of these incentives, what implications do you foresee for the future of affordable housing in the region? Will these decisions hinder development, or could they prompt alternative solutions to address housing shortages.
What do you think the best path forward is?
If you’ve just joined us or happened to miss our previous editions, now’s the perfect time to catch up. We’ve covered a variety of topics, from essential updates on the Live Local Act to insights on affordable housing initiatives. Explore our previous content here.
