Miami-Dade Homelessness Crisis: 3,839 Homeless People Struggling in Uncertainty

The high number of people living in poverty in Miami-Dade has played a significant role in increasing the number of homeless people in the community. Statistics conducted have indicated that Miami-Dade happens to have approximately 3,839 homeless people. Most homeless individuals living in Miami-Dade happen to face different forms of circumstances that are crucial in creating a high level of uncertainty in their lives. The unfortunate conditions that most of these individuals are usually subjected to include living in crawl places, makeshift shelters, and freeway overpasses. The high number of homeless people living in Miami-Dade are usually exposed to multiple risks, which might be crucial in endangering the lives ofthis group of people in the region. Strategies need to be created, which will be essential in ensuring that the various needs of homes people are addressed in the community (National Coalition, 2009). The state government has been on the frontline in offering arguments that the Low-Income Housing Tax Credit (LIHTC) will be crucial in addressing the high number of homeless people in Miami-Dade. The project is argued that it will be highly critical in ensuring that homeless people in Miami-Dade County will be able to acquire shelter, thus paying a vital role in addressing the issue of homelessness.

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The Low-Income Housing Tax Credit will act as a subsidy which will enable the majority of the people living Miami-Dade which will be crucial in allowing a majority of individuals to construct affordable homes, construct affordable homes, and rehabilitate a significant number of rental houses for tenants who can be categorized as moderate-income tenants and low-income tenants. The rising number of homeless individuals in Miami-Dade County is a result of the high cost of housing that is witnessed in the county. Most people belonging to the middle income and particularly the low-income social class usually find it challenging to afford the high rates and rents being demanded by landlords or housing agencies (HUD-VASH, 2019). The Low-Income Housing Tax Credit will be crucial in ensuring that the housing sector integrates the needs of this category of individuals by providing that there are houses that are constructed that match the needs of these low-income earners in the economy (Dietz, 2015). The strategy will be crucial in reducing the number of homeless people in Miami-Dade County as most people will have the ability to afford the rates that are being offered by the housing agencies in the market.

The Low-Income Housing Tax Credit will play a significant role in offering developers' suitable terms, which will be crucial in the development of affordable housing in the market of Miami-Dade. LIHTC will enable developers in the market who happen to obtain the tax credit awards to have a limited stake of ownership of the properties. However, the state government will be subjected to have a significant stake of ownership of housing projects that are being established in Miami-Dade (Multifamily, 2017). In this case, the state government will have an upper hand of dictating housing terms that are in the market. The state government will be crucial in ensuring that the housing rates that are in the market, thus ensuring that all individuals in the market can afford the houses in the market.

The Low-Income Housing Tax Credit will play a significant role in creating rent restrictions in the housing market of Miami-Dade. In most convention housing markets, the housing rents and rates are usually determined by the various forces that are integrated into the market. The rent restrictions will be crucial in creating rent ceilings, which will ensure that there is a maximum amount of rent that is payable by consumers in the Miami-Dade market. The Low-Income Housing Tax Credit will play a significant role in ensuring that any unit falling under LIHTC does not exceed 30 % of the 50% of AMI which happens to be adjusted as per the size of the family. The strategy will be essential in ensuring that the various housing units in the market are not over-priced in the market (Deng, 2011). The plan will be crucial in reducing homelessness in Miami-Dade County, as most individuals in the market will have the ability to afford the housing rates in the market.

The Low-Income Housing Tax Credit will be crucial in addressing the high rates of homelessness in Miami-Dade County as it will ensure that the costs that are incurred in the development of houses are considerably low compared to the benefits accrued from the project. The project will be crucial in ensuring that homes are developed within a span of five to ten years which will lead to a reduction of homelessness among individuals in Miami-Dade County (Lopez & Froese, 2016). The strategy will be applied as it will ensure there are housing units which will be developed that will enable that there is adequate housing that will match the growing needs of consumers in the market. However, this will be achieved through effective coordination among various official, which will be crucial in developing costs and benefits within a particular time.

References

Deng, L. (2011) Low-income housing tax credit developments and neighborhood change: A Case study of Miami-Dade County. Housing Studies, 26(6),

Lopez, D., & Froese, T. M. (2016). Analysis of costs and benefits of panelized and modular prefabricated homes. Procedia Engineering, 145, 1291-1297. Retrieved from https://www.sciencedirect.com/science/article/pii/S1877705816301734/pdf?md5=f4a35944e5d0373eb58c010322bd0b16&pid=1-s2.0-S1877705816301734-main.pdf&_valck=1National Coalition. (2009). Why Are People Homeless? National Coalition for the Homeless. Retrieved from http://www.nationalhomeless.org/factsheets/why.html

Dietz, R. (2015). How Many People Have Benefitted from the Affordable Housing Credit? Eye on Housing - National Association of Home Builders Discusses Economics and Housing Policy. Retrieved from http://eyeonhousing.org/2015/11/how-many-people-have-benefitted-From-the-affordable-housing-credit/

Freddie Mac. (2017) Multifamily 2017 Outlook: Positioned for Further Growth. Freddie Mac

HUD-VASH. (2019). Homeless Veterans. U.S. Department of Housing and Urban Development-VA Supportive Housing (HUD-VASH) Program. Retrieved from https://www.va.gov/homeless/hud-vash.asp

Multifamily (January 2017). Retrieved from http://www.freddiemac.com/multifamily/pdf/mf_2017_outlook.pdf