Housing News

Florida’s $4 Million Support

Plan to provide low-cost housing to buyers.

Florida’s been hit by a wave of foreclosures in the past months. State officials are doing everything to help homeowners salvage their homes from imminent foreclosure.

So during the 22nd Annual Statewide Housing Conference in Orlando last month, a new recovery fund was announced. The Community Foundation for Palm Beach and Martin Counties will offer $4 million in loans from the McArthur Foundation to support housing development. The goal of the plan is to provide low-cost housing to buyers.

Here’s a clip of Erika Poethig, Associate Director of Housing at the MacArthur Foundation:

But everyone’s not satisfied with the program. According to TCPalm.com, Habitat for Humanity is taking time to evaluate the plan. The site wrote, “…’We’re seeking funding from every avenue right now,’ said Jody Clifford, Habitat for Humanity of Martin County’s development director. ‘But at Habitat, what we do is hold mortgages for our Habitat homeowners a 30-year no-interest loan. If it were a low-interest loan (from the Florida Community Loan Fund), we probably wouldn’t apply.'”

We’re scratching our heads with this comment made by Clifford. How can he actually compare two programs from different non-profit organizations? We believe that non-profits should desire to help society, not to compete against each other.

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