Sadowski Trust Funds
Governor DeSantis has proposed Senate Bill 70 which would prevent the legislature from sweeping Sadowski Trust Funds into general funds. If Sadowski Trust Funds are used entirely for the intended use this fiscal year, the statewide total is expected to be approximately $352.4 million. “Fully funding” does not mean what it implies, as, the first $75 million will still be swept for other than affordable housing, because the legislature has this requirement written into state law and there is no proposal to change this at this time.
Rep. Silvers has filed a House companion Bill, H1103, to support the end to the sweeping of funds from the Sadowski Trust Fund for purposes other than affordable housing.
Every CCIM Chapter member should reach out to their state representative and urge him/her to support Senate Bill 70 so that, at last, Sadowski Trust Funds may be used for their intended purpose…affordable housing!
We have been fighting this battle for many years, and, finally it has some traction thanks to the Governor. It is up to us to ensure that every member of the legislature hears our voice and understands the significance of this initiative in providing for the need for affordable housing, to create jobs and to stimulate economic growth. The time is NOW, and, the job is OURS!
A perfect opportunity to present our argument is the Great American Realtor Days scheduled for March 18th, when hundreds of Realtors from around the state, including many CCIMs, will meet with their legislators and pre-arranged meetings to share our concerns regarding issues affecting our profession. This is a time when our voice is heard clearly, and, many events are scheduled for preparing members for these visits with prepared talking points that will guide you in your presentation.
Governor Ron DeSantis has also announced major water policy reforms to ensure the protection of Florida’s environment and water quality. This is a matter of great importance that is often overlooked, and, for some water quality, quantity and supply will not be considered significant until their faucet is turned on and nothing comes out. It is incumbent upon us to do our share to support legislation that will protect this natural resource for future generations.
National Flood Insurance Program (NFIP)
The NFIP which provides coverage up to $350,000 where required for federally backed mortgages; providing an alternative to taxpayer funded disaster assistance, as currently structured, is not financially sustainable over the long run. The program is not charging enough in premiums to cover expected claims in catastrophic loss years and has already borrow3ed over $30 billion from taxpayers to make up the difference. NAR supports a strengthened NFIP and a strong private market to offer choices and maintain access to flood insurance in all markets.
NAR proposes reauthorization of the program should be long term, that flood mapping should be done at higher resolutions, that premiums should be more accurately priced to property specifics and risk; private flood insurance options should be encouraged where cost effective, rates should be affordable and there should be greater oversight.
CCIM Chapter Legislative Chair