Daytona Beach Discusses Affordable Housing Fund
Affordable housing is an issue facing many local governments. Daytona Beach officials are taking steps to be proactive in meeting the housing needs of residents with the creation of an Essential Housing Opportunity Program trust fund.
According to a city staff report, the trust fund would be used to provide loans and grants for programs and projects to serve very low to moderate income households in the city.
“According to the US Census (Bureau) approximately 60.9% of renters in the city of Daytona Beach paid 30% or more their income on housing, while 48.9% paid 35% or more for rent,” the report states. “Forty percent of homeowners in the city with a mortgage are cost burdened, paying over 30% of their income on housing, while 32.9% paid over 35% or more, clearly indicating an affordability problem.”
In addition, the creation of the Essential Housing Opportunity Program trust fund would put in place a foundation for addressing housing issues in the long term, according to the city staff report.
“Housing affordability requires long-term investments, and we understand the profound challenges that individuals and families face when housing stability is threatened.,” the report states. “However, implementing the Essential Housing Opportunity Program Trust Fund will provide attainable housing for essential workers and residents of this community.”
Several residents attended the City Commission meeting but were not given the opportunity to speak on the first reading of the ordinance to create the trust fund. Mayor Derrick Henry explained the reasons why the public was not permitted to comment.
“We do not allow public comment on first reading,” he said. “That’s why you aren’t allowed to speak tonight.”
Henry said he supports the measure, which will come before the City Commission on Oct. 16 for a second reading and final vote.
“We have been a long time coming with this item and it’s one that we’ve wanted to see before this commission for a long time,” he said. “From my perspective I would apologize because I don’t think it should have taken this long. Everybody in the community needs to be participating in this effort.”
Henry said affordable housing is an important issue beyond the city limits.
“Daytona Beach is the leader in affordable housing initiatives, but it is definitely a county problem,” he said. “Hopefully during our next meeting we’ll have a successful outcome.”