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Florida Workforce Housing Council briefs Sarasota commission on bond‑backed program to convert rental apartments to 'workforce' housing
Summary
Representatives outlined a voluntary interlocal council that would use tax‑exempt bonds to acquire and convert multifamily properties for households earning up to 120% of area median income; commissioners asked for more detail and several said they were not ready to join as a founding member.
Representatives of the Florida Workforce Housing Council presented an outline Wednesday of a proposed public‑sector vehicle that would issue tax‑exempt bonds to acquire and convert existing multifamily properties into housing targeted to households earning up to 120% of the area median income (AMI).
The council would form as an interlocal public entity, proponents said, with public‑sector control over program rules while private developers and asset managers would run…
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