During the recent meeting of the City of Clearwater Affordable Housing Advisory Committee, discussions highlighted the success of a rebate program in neighboring Saint Petersburg aimed at increasing affordable rental units. This initiative offers landlords up to 40% of their total investment for improvements to rental properties, making them compliant with building codes and available for tenants at or below HUD's income limits.

The program, which requires landlords to invest in essential upgrades such as HVAC, electrical, and plumbing systems, has proven effective in creating additional rental units. The city monitors these improvements for a minimum of five years, with a minimum investment threshold set at $10,000. This labor-intensive monitoring ensures that the units remain affordable for low-income residents, with the potential for the program to last up to 15 years.

The committee noted that this approach not only enhances the quality of housing but also allows for the construction or relocation of existing single-family homes to be sold as affordable projects. These efforts aim to support households earning up to 120% of the area median income, addressing the pressing need for affordable housing in the region.

As Clearwater continues to explore similar initiatives, the success of Saint Petersburg's program may serve as a valuable model for enhancing housing options and supporting community needs. The committee's discussions reflect a commitment to tackling the affordable housing crisis and ensuring that residents have access to safe and affordable living conditions.