Issues

Affordable Housing

It is with rising concern that the members of The Argus Foundation have come to see the rapid increase in housing costs as an economic concern to the entire Sarasota community.

The Argus Foundation supports local governments to increase the availability of housing for moderate and low-income households. There is currently an unattainable closure between local wages and housing costs. Many of our employees who work here cannot afford to live here. Availability of affordable housing is causing businesses to lose employees, while also making it difficult to replace those lost or needed for business expansion. Apartments and houses of an appropriate size for working families, first-time homebuyers, and families with moderate and low income are priced too high compared with local prevailing wages. As surrounding counties develop their own integrated economies, commuting is becoming less of an option for employees. Commuting is an inefficient use of time and gas, while wages and taxes end up being spent in other jurisdictions.

The Argus Foundation, representing members in the Sarasota, Manatee, and Port Charlotte region, has developed a seven-point action plan suggesting that local governments help mitigate the unaffordable housing issue.

1. Housing options for households earning their living in Sarasota County should be increased by promoting a variety of housing styles for rent and purchase that recognize the savings inherent in small lot development.
2. Allow small lot developments where 80% of the housing has purchase values or rent costs at 30 to 40 percent of the medium annual household income for Sarasota County as defined by the U.S. Department of Housing and Urban Development’s annual tabulations. For example, a family with an annual income of $40,000 would find affordability if the monthly cost for purchase or rent was between $1,000 and $1,333.33 per month or between $12,000 and $16,000 per year.
3. Encourage applications in appropriate locations to apply for bonus densities that will ensure long-term affordability where manufactured housing that meets hurricane-force wind standards is being constructed.
4. Encourage underutilized strip centers on major transportation corridors to seek residential density bonuses. Traffic impacts will be offset by reduced commercial activity by the transformation of use.
5. Waive impact fees, zoning, and inspection fees for qualified developments meeting housing cost and wage guidelines In order to further promote affordable development.
6. Expand the urban service boundary for affordable housing development adjacent to existing infrastructure i.e., “stranded assets” and allow for higher density rezoning around all major employment centers.
7. Capitalize the land trust with available public lands, and encourage existing non-profit home providers to continue to seek out affordable lands in cooperation with both the public and private sector.

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