Given that homelessness figures are currently high in Florida, the work of the Florida Community Loan Fund (FCLF) is even more crucial. This has changed a lot since a year ago as today there is 58.7 percent more homeless in the region.
What the Fund is doing, is providing around 900 apartment units for low-income residents. Currently the fund has a Multifamily Preservation Program. This will be expanded in what it does into keeping rentals affordable for the future. As CEO of FCLF, Ignacio Esteban explained:
“There’s a significant number of low-income Floridians who are significantly cost hampered when it comes to finding affordable places to live. Part of what we are trying to do is make sure the existing stock available in Florida remains.”
The homeless figures are not surprising given the results from a 2013 Rental Market Study. Conducted by the University’s Shimberg Center for Housing Studies, this found that low-income renters in the region are paying over 40 percent of their total household income on housing. With such a fund, many of these may be able to find affordable housing now.