(Miami, Florida)-The City of Miami’s Housing and Commercial Loan Committee recently approved nine affordable housing projects for families and the elderly. These nine projects include more than 1,000 housing units to be built with $7,600,000 in direct funding from the City of Miami.

Seven of the new projects will be built in District 5, while two are slotted for construction in District 1. 

“These new housing units underscore our unwavering commitment to provide affordable housing to those most in need,” said Mayor Manny Diaz. “We’re determined to reach our goal of $1 billion of affordable housing by 2010.”  

The Housing and Commercial Loan Committee is comprised of thirteen highly respected private citizens with years of experience in the banking, mortgage, and development industries.  These professionals volunteer their time in reviewing requests and have sole authority in making final funding decisions.   

The City of Miami is committed to ensuring that housing is available to all of its citizens. The Housing and Commercial Loan Committee is an integral part of this commitment.