Miami Releases General Obligation Bond Projects

The city of Miami has released a list of the first round of projects to be funded by the $400 million Miami Forever General Obligation bond. On Dec. 13, city commissioners will vote on the proposal to borrow $58 million for the first round of work. Of the total $400 million, $100 million is slated for affordable housing and of the $58 million in the first round, $15 million is proposed for new affordable housing projects and a single-family home rehabilitation program.

$2 million would go towards the construction and permanent financing of the MLK Residences, $1 million would go towards  the construction and permanent financing  of the Liberty Renaissance, $8 million would be allocated for construction and preservation of affordable and workforce housing to be selected through an RFP process and $4 million would be available as rehabilitation assistance for Miami homeowners to make their homes decent, safe and sanitary; better withstand weather occurrences; and maximize energy efficiency.