
Florida
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City Officials and a Developer Have a New Affordable Housing Formula. Will it Fly?

The Miami Herald goes behind the scenes of a new affordable housing formula.
The CRA’s latest idea: Teaming up with a private developer on a plan to build 252 affordable and workforce high-rise apartments, with a financing twist that officials say could speed up production of so-called income-restricted housing in the area.
The CRA’s administrators are proposing to inject $15 million in direct subsidies into the $75 million project by developer NR Investments, the private partnership that built the new Canvas condo in the neighborhood.