HALLANDALE BEACH, Fla., Sept. 1, 2022 /PRNewswire/ -- In the wake of South Florida experiencing the largest year-over-year rent increases in the state at 57.2%, the Hallandale Beach Community Redevelopment Agency's (CRA) Board of Directors voted unanimously on Wednesday, August 24, 2022, to approve the Rent Stabilization Program. The Program allocates $1 Million in rental assistance for qualifying tenants living within the CRA boundaries who earn low to moderate average median incomes and have had their rent increase by 20% or more.
"High housing costs are burdening residents throughout the tri-county area and Hallandale Beach is no exception," said Dr. Jeremy Earle, Executive Director of the Hallandale Beach CRA. "With median rent rates at $2,988/month, up almost 30% from last year, we are taking action to make housing more affordable for tenants within the CRA in order to avoid the domino effects caused by inflation and support our local economy."
Residents who bear the burden of high housing costs often find it difficult to afford necessities such as food, clothing, transportation, and medical care, and may also be at risk for homelessness. Tenants who qualify for the Rent Stabilization Program may receive up to $500 per month for 12 months paid directly to their landlord. Priority will be given to seniors, ages 60 plus, as well as households with family members under 18 years old.
To qualify, tenants must have an income that is between the low to moderate average median income levels, show proof that their rent has increased 20% or more, and live within the CRA boundaries. The CRA boundaries include the corridor east of Interstate 95, from Pembroke Park Road, south to SW 11th Street, and east to SE 14th Avenue. Only one person per household may apply.
Applications for the Rent Stabilization Program will be open only to seniors ages 65+ from Monday, October 3, 2022 through Saturday, October 15, 2022, and then will be open to all applicants. The HBCRA will be holding a Workshop on Saturday, September 17, 2022, from 11 a.m. to 1 p.m. at the Austin Hepburn Center located at 1000 Northwest 8th Avenue, Hallandale Beach, FL 33009 to answer questions about the new program. To learn more about the workshop, please call Shienne Holman at (954) 457-2996 and to learn more about the Rent Stabilization Program, visit https://bit.ly/ResidentialPrograms.
About the Hallandale Beach Community Redevelopment Agency
The mission of the Hallandale Beach CRA is to promote economic development and enhance the quality of life by eliminating and preventing blighted conditions through the facilitation of community partnerships, business growth, job creation, and neighborhood rehabilitation. For more information, please visit https://cohbcra.org/.
CONTACT: Conceptual Communications, (954) 732-0754, firstname.lastname@example.org
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SOURCE Hallandale Beach CRA