A WORKFORCE FORCE

Lawmakers in Florida created the Community Workforce Housing Innovation Pilot Program (CWHIP) in 2006 to provide affordable housing to teachers, firefighters, police officers and nurses. By providing loans to projects through the Florida Housing Finance Corp. (http://www.floridahousing.org), the initiative helps reduce home prices – developments that continue to reserve their units for workforce housing over a period of 50 years don’t have to repay the loans. In addition to complying with deed restrictions for 30 years, qualified buyers can sell their units only to buyers approved by the program; resale prices are restricted to discourage flipping. But of the $50 million distributed by the program last year, $10 million was divided equally between Merry Place in West Palm Beach and Midtown Delray in Delray Beach – the only South Florida developments participating in the program. According to Miami-Dade County Assistant Director for Strategic Business Management Daniel Wall, many cities failed to receive approval due to “technicalities.”

Source: Palm Beach Daily Business Review (10/03/07) Pacenti, John
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