TAMPA, Fla. — Tampa's City Council will vote at the end of May on whether it will force a city-wide permitting pause for new multi-family developments.
New permits for land use typically used for apartment complexes would essentially be blocked from permitting and planning through next March, with few exceptions.
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The moratorium, as some call it, is an effort to curb congestion that residents in some parts of the city, including South Tampa, have been complaining about for years.
If approved, a moratorium on new permitting could push the cost of housing higher than it already is.
"It's not going to make my job any easier, that's for sure," says Robert Tough, a realtor with EXP Reality in Tampa. "It's going to cause more hassles with buyers."
Tough said 150 new residents move to Tampa every day, and with each person and family, the supply of homes and apartments shrinks even more.
Putting a stop for new permits for multi-family developments until next March will force new residents to rent or buy homes instead.
"Limiting the inventory is going to cause more of a panic,” Tough said. “It's going to have buyers to continue to increase their offers. They are going to be giving offers that are above the appraisal values of these homes.”
Tampa's City Council is split on the issue, but more talks are expected in the coming weeks.
Currently, four members are in favor of the plan including sponsor of the proposal, John Dingfelder, along with Orlando Gudes, Bill Carlson and Joseph Citro.
Those that voted no to proceed on the proposal were Charlie Miranda, Luis Viera and Chairman Guido Maniscalco.