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Mayor Kriseman Introduces 10-Year Plan to Address Housing Affordability in St. Petersburg

St. Petersburg, FL. (July 2019) - On July 24, Mayor Kriseman announced the City’s comprehensive 10-year plan to address housing affordability by expanding existing programs and introducing new solutions. The plan will begin in 2020 and will be funded through various public and private sources. The plan will impact approximately 7,000 households, improving life for 19,000 community members across the city.

Said Mayor Kriseman: “If we want to be a city of opportunity where the sun shines on all, then we must be able to provide affordable, quality housing for those who aspire to live in St. Pete. Single-income families, retirees, first responders, teachers, nurses and more deserve a shot at living in and owning a home in our great city. We have been working for months to release a thoughtful, comprehensive plan that will expand existing programs and introduce new solutions in order to provide opportunity to thousands. I am excited to put this into action.”

The plan will mainly focus on supporting low- and moderate-income households but will also offer solutions for middle-income households and above.

How this plan will help low- and moderate-income households:

  • Create and preserve 2,400 multi-family units
  • Support the development of 200 non-subsidized Workforce Density Bonus Units (zoning strategy to encourage developers to include affordable units)
  • Include mixed-income developments on City-owned land to increase the supply of multi-family units
  • Support the construction of 300 accessory dwelling units, such as encouraging developers to include affordable units like carriage houses and garage apartments
  • Enable the purchase of 500 single-family homes for households earning 120% of the area median income or below
  • Provide 150 single-family lots for construction of new affordable homes
  • Enable more than 3,200 single-family homeowners to stay in their homes by remedying code violations through available grants and additional City funding

How this plan will help middle-income households and above:

  • Make housing more affordable by increasing the supply of market rate units through the new Neighborhood Traditional Multi-Family zoning districts
  • Support the construction of 300 accessory dwelling units, such as encouraging developers to include affordable units like carriage houses and garage apartments
  • Include mixed-income developments on City-owned land to increase the supply of multi-family units

The largest and most impactful piece of the plan will leverage approximately $60 million of City funding for the construction and preservation of 2,400 affordable multi-family units. Since most of these funds are sourced by taxes already paid to each level of government, we are all contributing to this important solution.

Federal:

  • HOME (HOME Investment Partnership) - $1.5 million: a federal funding source that provides money to the City through annual Federal budget process

State:

  • SHIP (State Housing Initiative Partnership) - $2.5 million: a state funding source that provides money to the City through annual state budget process

 Local:

  • City-Owned Land - $10 million: existing City-owned land and future acquisitions, valued at approximately $10 million, for the use of housing that is affordable
  • Penny for Pinellas - $15 million: a 1% sales tax that funds long-term capital projects in Pinellas County
  • SSP CRA (South St. Petersburg Community Redevelopment Area) - $8.5 million: a City program by which local taxes collected from the CRA are used for projects located within the CRA alone
  • Floor Area Ratio Bonus - $2.5 million: a fee paid by developers for the right to develop additional square footage on a property
  • Linkage Fee - $20 million: a proposed impact fee on new market-rate construction, pending results of the City’s nexus study, in progress

More information can be found at stpete.org/affordablehousing.

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City of St. Petersburg
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St. Petersburg, FL 33731

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