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The newly established non-profit GI 305 is pioneering Miami-Dade County’s first guaranteed income program; the second program of its kind in Florida. Guaranteed income is a social welfare initiative that has taken the national stage in recent years, intended to provide regular, unconditional cash payments to community members with the goal of reducing poverty and ensuring a minimum standard of living for low-income individuals.
Founded in the Summer of 2023 by Madison Paez and Jandrick Castro, GI 305 will serve six Miami-Dade County neighborhoods identified as gentrifying, and rapidly growing in income inequality — Allapattah, Liberty City, Little Haiti, Little Havana, Overtown, and Wynwood. Seeded by private funds, the Miami-basedorganization is actively soliciting donations to their campaign, expecting to distribute a minimum of $585,000over a 12-month period beginning in Spring 2024. In its initial year, 75 residents within these historicneighborhoods will receive $650 per month in cash allocations that come with no conditions, no restrictions, and no bureaucratic barriers.
“We are at a turning point in Miami’s history, with burgeoning development and industries, drastically changing the social and economic landscape of our communities. We have to make sure nobody is left behind in this growth” said Paez. “So we started GI 305 to address the economic neglect and housing displacement of historic minority communities, joining the national movement for guaranteed income as an innovative solution to these problems,” said Paez. “Guaranteed income will supplement the increasing cost of living, often unsustainable for residents while creating a reciprocal network of shared resources that build community cohesion, wealth, and autonomy. This not only improves outcomes for participants, but their families and the entire community.”
The bold initiative launches at a time when Miami-Dade County is amid one of the worst housing crises on record. GI 305 focuses on communities most vulnerable to the rising cost of housing, with two of every three households in the target neighborhoods cost-burdened, meaning they are spending more than a third of their monthly income on housing. The housing crisis strains a community already grappling with financial instability – GI 305’s target communities have a median household income of $33,230 a year, only 57 percent of the Miami-Dade County median income of $57,815.
The guaranteed income startup is the latest in a growing number of programs across the U.S. Nearly 100 cities[1] have adopted the guaranteed income model providing financial support to struggling individuals and families. Studies show that guaranteed income decreases homicide, crime, overdose deaths, and domestic violence while improving the health, education, nutrition, and equity indicators of its participants. In fact, the government response to the COVID-19 pandemic was largely driven by guaranteed income policy. The Child Tax Credit of 2021 is one example that reduced nationwide child poverty by half in one year.
With backgrounds in welfare policy, criminal legal system reform, and community service, Paez and Castro have developed a multifaceted guaranteed income platform that advocates for economic freedom. Both are Florida natives with staunch dedication to organizing communities and effecting systemic change. GI 305 also plans to host community forums on navigating barriers to economic mobility, develop youth-led programming in Miami-Dade County public high schools to advocate for this cause, and build upon existing research to demonstrate the effectiveness of guaranteed income in cities like Miami, Florida.
The organization is participating in The Miami Foundation’s Give Miami Day, the annual day of philanthropy for the Miami community. The Foundation will be matching all donations. Early giving starts on Nov. 13, 2023.
To find additional information and to enroll or donate, visit: www.gi305.org.
