U.S. REP. CHERFILUS-MCCORMICK: Addresses Affordable Housing crisis through first-time owner Purchase Assistance Program. PHOTO COURTESY OF CITY OF TAMARAC
TAMARAC, Fla. — The City of Tamarac’s first-time home buyer purchase assistance program just got a financial boost from U.S. Rep. Sheila Cherfilus-McCormick in the municipality’s efforts to help residents buy houses amid South Florida’s Affordable housing crunch.
City officials received a check in the amount of $350,000 from CherfilusMcCormick, a Democrat whose district includes portions of Broward and Palm Beach counties, as part of Tamarac’s critical community project to address the affordable housing crisis for first time home buyers.
The funding was part of Cherfilus-McCormick’s community project funding in her district with an estimated $14 million for 2023-24 for critical resources for housing, economic development and healthcare for residents who are in need.
The congresswoman said expensive mortgage rates, down payments and closing costs are depriving home buyer seekers of achieving the American Dream.
“South Florida is on the front lines of our nation’s housing crisis. We cannot sit by as an entire generation of Americans are denied the American Dream,” said Cherfilus-McCormick.
“I was proud to deliver this critical funding, which will help more Floridians find an affordable place to live and not have to worry about putting a roof over their heads. With its existing funds, Tamarac was only able to assist five to seven households per year. Thanks to this investment, Tamarac can now support triple the number of households.”
Cherfilus-McCormick said in her congressional district, 63.1 percent of households spend more than 30 percent of their income on rent, compared to the national rate of 47.3 percent.
In Broward County, single-family home median prices recently jumped 11 percent to $600,000.
Tamarac’s program provides aid to qualified home hopefuls including assisting with down payments and closing costs.
The program allows the city to assist five to seven households per year, and with additional funding from Cherfilus-McCormick can bolster triple the number of households.
“The Tamarac community is very thankful to Congresswoman Cherfilus-McCormick for supporting homeownership and being a champion for affordable housing,” said Carolyn Francis-Royer, Tamarac Housing & Community Development manager.
“Without these funds, many families will not experience the joy of homeownership. This funding will certainly strengthen our purchase assistance program, allowing us to help more families realize their American Dream.”
Affordable housing in South Florida is becoming increasingly scarce and Tamarac remains one of the few places with an affordable housing inventory.
One of the cornerstones for stimulating the local economy is helping residents build generational equity through affordable homeownership including for first responders, military veterans and retirees.
So far, over 500 residents seeking to purchase their first home, submitted their paperwork in the past three months for the city’s low and moderate homebuyer assistance program for individuals earning up to 120 AMI to buy homes within an affordable price range.
