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Florida Revitalization 2024-2025 Form
Quick guide on how to complete fl revitalization program
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Video instructions and help with filling out and completing Live Local Act Sales Tax Refund For Affordable Housing Form
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People also ask
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How to qualify for live local?
Properties that qualify for consideration must offer a minimum of 71 qualified units of affordable housing to income-eligible individuals or families for at least three years. Depending on the fulfillment of eligibility criteria, these properties may be eligible for either a 75% or 100% tax exemption.
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What is the Live Local Act exemption?
The exemption requires a development to be “newly constructed” within the past five years before the date of the project owner's first filing for the Florida Housing Finance Corporation's (“Florida Housing”) Multifamily Middle Market (“MMM”) Certificate.
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What is the Live Local Act Program sb102 in Florida?
Florida Housing Coalition Helps Local Governments and Nonprofits Navigate the Live Local Act. The Live Local Act, also referred to as SB 102, represents a comprehensive and far-signNowing workforce housing initiative and is supported by the Florida Housing Coalition.
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What are the rules for the Live Local Act?
Mandates administrative approval of residential dwelling units on commercial, industrial, and mixed use lands with no public hearings for eligible projects. An eligible project must set aside a minimum of 40% of the units reserved for households with incomes of up to 120% of the Area Median Income (AMI).
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How does live local work?
The Live Local Act provides provisions for housing funding and tax credits for affordable housing programs. It also allows for the possibility of some tax exemptions.
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What is the new affordable housing law in Florida?
The Live Local Act, effective July 1, 2023, states that local governments are required to allow affordable housing developments in commercial, industrial and mixed-use zoning districts.
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What is the Live Local Act for affordable housing?
The Live Local Act is a comprehensive, statewide attainable housing strategy, designed to increase the availability of affordable housing opportunities for Florida's residents, who desire to live within the communities they serve.
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What are the guidelines for the Live Local Act?
The Live Local Act provides a property tax exemption of up to 100% of the assessed value of a qualifying project's units. In order to qualify, a project must contain at least 71 housing units, and must serve housing occupants with household incomes which are equal to or less than 120% of AMI.
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