On February 24, 2025, the Florida State Legislature introduced House Bill 995, a legislative proposal aimed at addressing the critical shortage of affordable housing in Monroe County, particularly in the City of Key West. The bill outlines specific provisions for the allocation of building permits, with a strong emphasis on workforce housing.

The primary purpose of HB 995 is to facilitate the construction of affordable residential units by allocating 500 building permits specifically for this purpose. Notably, at least 70 percent of these permits are designated for workforce housing, defined as residential units occupied by households earning at least 70 percent of their income from employment within Monroe County. This provision aims to ensure that local workers can afford to live in the area where they contribute economically.

Key provisions of the bill stipulate that the building permits can only be awarded to vacant, buildable parcels, with a limit of one permit per parcel. However, the bill makes an exception for the City of Key West, which will receive 50 affordable building permits that are not subject to the same restrictions.

The introduction of HB 995 has sparked discussions among lawmakers and community stakeholders regarding its potential impact on the local housing market. Proponents argue that the bill is a necessary step toward alleviating the housing crisis faced by many residents, particularly those in the workforce who struggle to find affordable living options. Critics, however, express concerns about the long-term implications of restricting building permits and the potential for unintended consequences in the housing supply.

As the bill progresses through the legislative process, it is expected to undergo further debates and possible amendments. The economic implications of HB 995 could be significant, as increased availability of affordable housing may attract more workers to the area, thereby boosting local businesses and the economy.

House Bill 995 is set to take effect on July 1, 2025, if passed, marking a pivotal moment in Florida's ongoing efforts to address housing affordability and workforce stability in Monroe County. The outcome of this bill could shape the future of housing in the region, making it a focal point for both lawmakers and residents alike.