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County Administrator's Report 10. 24.
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| BCC Regular Meeting |
Budget & Finance Consent |
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| RECOMMENDATION: |
Recommendation Concerning Local Government Contribution Grant Forms for Affordable Housing Credit Financing Applications - Tonya Gant, Neighborhood & Human Services Department Director
That the Board approve and authorize the County Administrator to sign, subject to Legal review and sign-off, the Local Government Verification of Contribution Grant Forms committing $37,500 for each of the following proposed developments applying for the Florida Housing Finance Corporation Housing Credit Financing for Affordable Housing Developments Located in Medium and Small Counties:
A. Abbington Apartments;
B. Ashland Grove;
C. Berkeley Borough;
D. Brownsville Manor;
E. Encore Park;
F. Hallmark Village;
G. Legacy Gardens;
H. P Street Commons;
I. Pensacola Commons;
J. Pinewood Terrace;
K. Waverly Place; and
L. West Park Place.
[Funding: Fund 120/SHIP and/or Fund 124/Affordable Housing] |
| BACKGROUND: |
Florida Housing Finance Corporation (FHFC) has opened its highly competitive Request For Applications (RFA) 2015-106 Housing Credit Financing for Affordable Housing Developments Located in Medium and Small Counties. Multiple developers are submitting applications to FHFC to develop the following proposed rental developments in Escambia County:
| DEVELOPMENT NAME |
LOCATION |
DEVELOPER |
# OF UNITS |
TYPE |
| Abbington Apartments |
1421 E Olive/7815 Sabra Dr. |
REA Ventures Group |
96 |
Family |
| Ashland Grove |
1900 Blk Bush St |
Southport Development, Inc. |
92 |
Family |
| Berkeley Borough |
3888 Erress Blvd |
Southport Development, Inc. |
100 |
Family |
| Brownsville Manor |
2900 blk W. Desoto St. |
Paces Foundation |
87 |
Elderly |
| Encore Park |
1717 W. Cervantes St. |
Encore Park LLC |
72 |
Family |
| Hallmark Village |
115 South E St |
Hallmark Village LLC |
120 |
Elderly |
| Legacy Gardens |
215 W Garden St |
Legacy Gardens LLC |
120 |
Elderly |
| P Street Commons |
1201 North P St |
Paces Foundation |
72 |
Family |
| Pensacola Commons |
2501 N. Hayne Street |
Paces Foundations |
72 |
Family |
| Pinewood Terrace |
Dogwood Place at New Warrington Rd |
JPM Development LLC / Westbrook Housing Development LLC |
96 |
Family |
| Waverly Place |
Dogwood Drive at New Warrington Rd |
JPM Development LLC / Westbrook Housing Development LLC |
94 |
Elderly |
| West Park Place |
3330/3360 West Park Place |
Beneficial Communities |
88 |
Family |
An alphabetical summary of each development with property appraiser information, development details, site plan, and elevation is included as Exhibit I.
As a part of the tax credit application process, developers must secure a “Local Government Verification of Contribution Form” (Exhibit II) from each local government which secures a minimum contribution of $37,500 in order to receive maximum points during the scoring process. Though the Board is authorizing the County Administrator to sign the form committing $37,500 for each proposed development, there is no guarantee of any of the developments being selected for financing in Escambia County. The applications are due to FHFC by October 15, 2015 and selection should be known by Spring 2016.
FHFC mandates concrete construction, green features, income set asides, at least three resident program offerings (After School Programs, Literacy Training, Employment Assistance, or Family Support Coordinator for Family Developments and Literacy Training, Computer Training, Daily Activities, Resident Assurance Check-In Program, or Assistance with Housekeeping, Shopping or Laundry for Elderly Developments), and proximity to transit and community services. FHFC will score applications and fund the top two or three proposals from all Medium County applications across Florida. Each development will undergo a rigorous underwriting process through FHFC. A copy of the complete RFA and related documents is available online at http://www.floridahousing.org/Developers/MultiFamilyPrograms/Competitive/2015-106/ . |
| BUDGETARY IMPACT: |
| The statewide housing tax credit application process through Florida Housing Finance Corporation (FHFC) is extremely competitive, so there is no guarantee of any projects being funded in Escambia County. Fund 120/SHIP and/or Fund 124/Escambia Affordable Housing funds will only be provided in the event that a development is awarded the Tax Credit financing through FHFC during this particular housing tax credit application cycle. Funding commitments are only good through June 30, 2016. The most recent allocation year will be utilized at the time of the award and an Agreement will be brought to the Board to formally commit the funding. |
| LEGAL CONSIDERATIONS/SIGN-OFF: |
| Local Government Contribution Forms subject to legal review and signoff. |
| PERSONNEL: |
| Personnel not affected by this recommendation. |
| POLICY/REQUIREMENT FOR BOARD ACTION: |
| Commitment of funds requires Board approval. |
| IMPLEMENTATION/COORDINATION: |
Neighborhood Enterprise Division will coordinate execution and return of the form to developers.
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