Miami Pitches $2.5 Billion Bond to Stem Dire Housing Crisis
- Voters will decide fate of bond measure on November ballot
- Area faces housing crisis with home prices surging 82%
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Miami-Dade County is seeking $2.5 billion to cope with one of the worst housing crises in the US.
Mayor Daniella Levine Cava will propose the new, property tax-backed debt package to voters later this year, she said. The largest portion of the money — about $800 million — will go to a fund that will finance affordable housing projects, while the rest will be used to improve the county’s infrastructure, including parks, sewage and roads.