What is happening? Miami Dade Mayor is considering landlord subsidies to help lower rental rates. The program was developed by large apartment operators and builders.
Why is this important? A total of $10 million in subsidies would be available for landlords from the program that would be funded in part with property-tax dollars.
How will this be important? Subsidies would amount to $167 a month for 4,500 apartments and rental homes within targeted rent ranges with tenants that would have rentals at reduce rents to “workforce” levels ($136,000 for a family of 4).
Governing | Miami-Dade Mayor Proposes Subsidies to Lower Rent Costs