Gov. DeSantis Sign a Historic Affordable Housing Bill into Law in Florida

On Wednesday (March 29th), Gov. Ron DeSantis signed Senate Bill 102, also known as the “Live Local Act,” at Founders Square in Naples. This broad-based pro-housing bill is designed to increase affordable housing options for Florida workers who hope to live in the communities they serve. The bill was supported by Florida Realtors and creates a comprehensive statewide workforce housing strategy.

2023 Florida Realtors President G. Mike McGraw thanked Gov. DeSantis, Senate President Kathleen Passidomo, House Speaker Paul Renner, Senator Alexis Calatayud, and Representative Demi Busatta Cabrera for their leadership and hard work in making the historic affordable housing initiative a reality. He highlighted how SB 102 will help make the dream of homeownership possible for more Floridians and lower the cost of rents throughout the state.

During the press conference, Gov. DeSantis described SB 102 as “the largest ever support for housing in state history” and emphasized how it will help Floridians live in the communities where they work. The bill includes $711 million for projects through the Florida Housing Finance Corp.

The Live Local Act is a 106-page bill that addresses various aspects of the affordable housing problem in Florida. The bill provides additional funding for the state’s Hometown Heroes Program and widens eligibility from career-based assistance to income-based down payment assistance. The maximum loan amount under the program has also increased from $25,000 to $35,000.

SB 102 is a multi-faceted approach to solving Florida’s affordable housing challenge. It is a significant step forward in addressing the lack of affordable housing in the state, and it will positively impact many hard-working Floridians who cannot afford to live in a home near where they work.

-Max