NEIGHBORHOOD SPOTLIGHT - OVERTOWN       Profile of Current Residents of Overtown Housing Needs Report   The following presumes it necessary and appropriate that redevelopment of the Overtown area afford all current residents the opportunity to upgrade the housing they occupy presently, either by moving to accommodations that will be constructed, or through the rehabilitation of their current dwellings. New housing should be constructed at appropriate densities. In accordance with mixed-income principles, housing units for low-income residents should be dispersed throughout developments and should be consistent with those of market-rate residents in square footage, interior and exterior finishes, quality of construction, and access to common and unit amenities. The Overtown Civic Partnership and Design Center’s housing redevelopment plan projects to address nearly 8000 residents currently comprising nearly 3000 households. Overtown is situated within the City of Miami, one of the lowest-wage urban economic centers in the country. The challenge to make new homes accessible to current Overtown residents is formidable, as the following statistics would indicate.     In Florida, Fair Market Rent for a two-bedroom unit is $727. An extremely low-income household (earning $15,730--30 percent of the AMI of $52,434) can afford monthly rent of no more than $393. A minimum wage earner (earning $5.15 per hour) can afford monthly rent of no more than $268. Fair market rent for a one-bedroom unit is $593. An SSI recipient (receiving $545 monthly) can afford monthly rent of no more than $164. In Florida, a worker earning the Minimum Wage ($5.15 per hour) has to work 109 hours per week in order to afford a two-bedroom unit at the area’s Fair Market Rent. The Housing Wage in Florida is $13.98. This is the amount a worker would have to earn per hour in order to be able to work 40 hours per week and afford a two-bedroom unit at the area’s Fair Market Rent. This is 271 percent of the present Minimum wage ($5.15 per hour). Between 2001 and 2002, the two-bedroom housing wage increased by 4.71 percent.   Nevertheless, we are charged to advocate a redevelopment plan which provides for the re-housing of the current population of Overtown residents.   OVERTOWN HOUSEHOLDS REQUIRING ACCOMMODATION Income Stratum*   Income Range Number of Households Homeless/transitional   Less than $10K+ need for supportive services 1000-1500 Extremely low-income   Less than $10K-14,999 1684 Very low-income   $15K-24,999 456 Low-income   $25K-29,999 167 Moderately low-income   $30K-34,999 95 Moderate-income   $35K-59,999 222 Above Moderate-income   $60K and above 178 Total   3802-4302     *The income ranges are consistent with those in Census data collection, and the income categories are an attempt to qualify them relatively. Both the categories and income ranges are quite similar to analyses based on area median income figures.   We find that the income profile of Section 8 rental voucher clients and public housing residents in Overtown is similar to that of the area’s resident population at large. Most Section 8 clients currently residing in Overtown are not eligible to use their vouchers to participate in the Section 8 Homeownership Program. Therefore, they will require subsidies from other sources to make home ownership accessible. Categories of focus should be households in the strata “extremely low-income,” “very low-income,” and “low-income.” As such, a feasible subsidy package must address households earning $30K and less per year. New housing stock should be constructed according to the unit breakdown below to address shortfalls.   Units in Overtown 1-bdrm 2-bdrm 3-bdrm 4-bdrm 5-bdrm+ Totals Available* 688 459 152 47 9 1355 Demanded 1272 465 555 107 121 2520 Shortfall -584 -6 -403 -60 -112 -1165 *Existing residential units minus those constructed prior to 1970.     BACK TO ARTICLES LIST

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