ORLANDO, Fla. – The city of Orlando gave the green light to a new program that incentivizes developers to build more affordable housing.
What You Need To Know
- New Orlando program incentivizes developers to build more affordable housing
- Developers to get a rebate for building permit fees
- The city’s pilot program would last through February 2025
That pilot program would give developers a rebate for building permit fees.
That can be for new permit fees, or it can be paid retroactively if they're already past the permitting phase.
One leader of the city program, Lillian Payne, said this is one piece in a larger puzzle to solve the affordable housing crisis.
However, those who work directly with people in need of affordable housing said they believe this is a good way to go about it.
“To lower their cost allows them to have the same profit that they would without the program," broker Chris Bright said. "So if they were able to do this, they can actually pass the savings on to the actual renters.”
The city’s pilot program would last through February 2025.