At least two local governments in Central Florida have opted out of the state's Live Local Act property tax exemptions for developers of workforce housing—and more towns in the area may follow suit.
The act, adopted last year, encourages the development of workforce housing by preempting local zoning restrictions if the developer reserves 40% of the units in project for workforce housing, with rents capped at 120% of the area median income (AMI).
The new law, which provides property tax exemptions for workforce housing, has spawned a bevy of multifamily and mixed-use projects including workforce housing components in Florida.
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