Subject:
Title
Approval Re: Agreement between Brevard County Board of County Commissioners, Housing for Homeless (HfH) Forest Glen GP, LLC and Housing Trust Group (HTG) Forest Glen Apartments, LTD
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Fiscal Impact:
Fiscal Year 2024/2025: There will be no fiscal impact to the General Fund. Funds are budgeted in SHIP Cost Center 1490-298031 ($360,000).
Dept/Office:
Housing and Human Services
Requested Action:
Recommendation
It is requested that the Brevard County Board of County Commissioners authorize:
1. The Chair to execute an agreement between the Brevard County Board of County Commissioners, HfH Forest Glen GP, LLC and HTG Forest Glen Apartments LTD, upon approval by the County Attorney and Risk Management.
2. The Housing and Human Services Department Director to execute any future amendment(s) or modification(s) upon approval by the County Attorney and Risk Management; and
3. The County Manager to execute all necessary budget change requests.
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Summary Explanation and Background:
Project Summary
Housing for the Homeless, Inc. as a General Partner of HTG Forest Glen Apartments, LTD responded to Local Government Contribution for Florida Housing Finance Corporation (FHFC) Programs 2024 request for proposals. Annually, the FHFC advertises the availability of funding through the Tax Credit, State Apartment Incentive Loan (SAIL) and Revenue Bond Programs. These programs are designed to assist developers with the acquisition, rehabilitation, or new construction of large scale (typically more than eight units) of affordable rental housing. To receive maximum points and to qualify, these programs quite often require developers to include in their applications signed local government Verification of Contribution Forms.
On August 18, 2015, the Board of County Commissioners approved the Request for Proposal (RFP) and process for local government contribution for Florida Housing Finance Corporation Programs; designated the Affordable Housing Council as the...
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