News & Views: CHR in the News

CHR to Reach Moderate Income Workers

April 18th was an important day for working people on Sanibel Island . Upon recommendation of the Community Housing & Resources, Inc. ( CHR ) Board of Directors, the Sanibel City Council approved policy changes that allow persons earning up to 120% of area median income the opportunity to participate in the Below Market Rate Housing Program. The expanded eligibility now reaches teachers, police officers, firefighters, and other moderate income essential workers in our community. Standardization of rent assessments based on a commonly accepted rent burden of 30% of monthly income with a utility allowance now insures equitability in rental costs. Careful analysis of the current and future expansions of Sanibel's affordable housing program by CHR has resulted in this progressive change.

The problem of unaffordable housing in southwest Florida has an economic impact on all of us. Essential workers in the public and private sectors are especially vulnerable. These workers are vital members of our community. They are dedicated people protect us, keep our community in good order, teach our children, protect our environment and provide services which affect the quality of our lives. They need a place to live. They need a place to live that does not absorb an inordinate amount of their wages. With unpredictable increases in gas prices they need affordable housing in proximity to their employment. Without them government and commerce will not progress.

Sanibel recognized this fact in 1979, over 13 years before the State of Florida . Sanibel's Below Market Rate Housing initiative precedes twenty-one of the thirty-four pieces of Federal legislation that govern housing policy in this nation. The Below Market Rate Housing Program on Sanibel is not a handout, it is a hand up. The single largest housing subsidy program in this country, by far, is the mortgage interest tax deduction. Homeowners with mortgage payments are the biggest beneficiaries of this form of housing subsidy irrespective of income.

Many believe housing costs in southwest Florida have peaked. At least we hope so. Currently, CHR is formulating plans to increase our affordable housing stock to benefit Sanibel residents, workers, and employers. This increase will take place on and off island. It will be developed with mix of State and County Bond funds, State and Federal grants private tax credit investment, joint ventures, and with employer involvement yielding some return on investment. We will develop a new form of employee fringe benefit with financial and worker productivity returns for employer investors. We welcome your input because working together, our community will benefit by maintaining the Sanibel's philosophy of diversity and harmonious living.

from the Sanibel-Captiva Chamber of Commerce

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