Interoffice Memorandum
DATE: October 30, 2024
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: N/A
FROM: Tanya Wilson, AICP, Director, Planning, Environmental, and Development Services
CONTACT: Mitchell Glasser
PHONE: (407) 836-5191
DIVISION: Housing and Community Development Division
ACTION REQUESTED:
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Approval and execution of Resolution of the Orange County Board of County Commissioners regarding The Election Pursuant to Section 196.1978(3)(o), Florida Statutes, To Not Exempt Property Under Section 196.1978(3)(d)1.a, Florida Statutes, Common Known As The “Live Local Act Property Tax Exemption” And Providing An Effective Date. (Housing and Community Development Division)
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PROJECT: Opt-out of “Live Local Act Property Tax Exemption” for Newly Constructed Affordable Housing Program
PURPOSE: On October 29, 2024, staff presented a work session outlining the requirements for opting out of the Live Local Act Property Tax Exemption program for newly constructed affordable housing projects, authorized in Section.196.1978(3)(d)1.a, Florida Statutes. The Board chose to opt out of the program and instead make recommendations provision in Section 196.1978 to target /benefit renters earning up to 60% AMI. Otherwise, projects that received property tax exemption during the 2024 tax year are grandfathered in for each consecutive year that the property owner applies for and is granted the exemption. This Resolution must be renewed annually, if applicable, as required by law.
BUDGET: N/A