Breakup of Florida Leaders “The Sadowski Fund”

The Sadowski Fund was created by the Florida Legislature in the 1990s to use a portion of property taxes to fund affordable housing projects. “When you buy a home and pay the documentary stamp duty that’s always required when a home is transferred, a percentage of that money will go into this newly created fund called the Sadowski Fund,” said Sen. Lori Berman of Palm Beach. “Some of that money would go toward affordable housing.” At one point, the Florida legislature voted to allow some of the money to be used for other projects. That’s something Sen. Berman says has become more common since the recession of 2008. Tenants’ Bill of Rights: Boynton Beach landlords may have to fire if rent increases more than 5% Money swept from Sadowsky fund added of state general revenue, Berman says the total budget was more than $2 billion as of 2008. Two years ago, however, lawmakers voted to change the way the Sadowski Fund is allocated. said Rick Roth. “It will go to affordable housing, it will go to sea level rise and flooding issues, and it will go to clean up our waters.” Now, Sadowski’s funds are allocated according to a formula. Most recently, 48% went to affordable housing projects, while the remainder was split equally between sea level/flood resilience and clean water initiatives. “Current law says the Florida legislature is prohibited from sweeping money, but they’ve set it up to go in different directions,” Rep. Roth said. the current law is more transparent and allows for more consistent funding, but believes more money should be allocated to affordable housing. “Let’s move forward in the formula process, but let’s move more toward affordable housing because we’re 30 years behind and it’s number one,” he said. Other Florida leaders, such as Sen. Berman, want the state to reallocate all money from the Sadowski fund to affordable housing. Both Senator Berman and Representative Roth are running for re-election in this midterm election. You can view the list of all candidates here.

The Sadowski Fund was created by the Florida Legislature in the 1990s to use a portion of property taxes to fund affordable housing projects.

“When you buy a home and pay the documentary stamp duty that’s always required when a home is transferred, a percentage of that money would go into this newly created fund called the Sadowski Fund,” Sen. Lori Berman of Palm. The beach, he said. “Some of that money would go toward affordable housing.”

At one point, the Florida legislature voted to allow some of the money to be used for other projects. That’s something Sen. Berman says has become more common since the 2008 recession.

Tenant’s Bill of Rights: Boynton Beach landlords may have to give notice if rent increases more than 5%

The money siphoned off from the Sadowski Fund was added to the state’s general revenue budget, totaling more than $2 billion as of 2008, according to Berman.

Two years ago, however, lawmakers voted to change the way the Sadowski Fund is allocated.

“Now you have three different avenues where Sadowski’s money is going,” said Palm Beach County Representative Rick Roth. “It addresses affordable housing, sea level rise and flooding issues, and cleans our waters.”

Sadowski’s funds are now allocated using a formula.

Most recently, 48% went to affordable housing projects, while the remainder was split evenly between sea level/flood resilience and clean water initiatives.

“Current law says the Florida Legislature is prohibited from sweeping money, but they’ve established that it goes in different directions,” Rep. Roth said.

Roth said the current law is more transparent and allows for more consistent funding, but he believes more money should be allocated to affordable housing.

“Let’s move forward in the formula process, but let’s move more toward affordable housing because we’re 30 years behind and it’s the number one issue,” he said.

Other Florida leaders, like Sen. Berman, want the state to reallocate all money from the Sadowski fund to affordable housing.

Both Senator Berman and Representative Roth are running for re-election in this midterm election.

You can view the list of all candidates here.

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