Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
title
MOTION TO APPROVE Local Government Area of Opportunity ("LGAO") designation funding and gap financing to Garden Place Ltd., or its affiliate ("Boulevard Gardens") for a senior affordable housing development (approximately 92 affordable units) located within the Broward Municipal Services District ("BMSD") as follows: 1) Local Government Contribution for the LGAO designation in the amount of $640,000, and 2) gap financing in the amount of $2,360,000; authorizing the County Administrator to execute all agreements related to the project, subject to the foregoing monetary limits and approval as to legal sufficiency by the Office of the County Attorney; and authorizing the County Administrator to take the necessary administrative and budgetary actions. (Commission District 8)
body
Why Action is Necessary
Board action is required to approve agreements with outside agencies and to create a new capital project above $25,000.
What Action Accomplishes
Allows the County Administrator to execute agreements for financing the Boulevard Gardens senior affordable housing development in the BMSD totaling $3,000,000 (for approximately 92 affordable units).
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
None.
Summary Explanation/Background
THE RESILIENT ENVIRONMENT DEPARTMENT AND THE HOUSING FINANCE DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board's Value of "ensuring residents have an affordable place to live by offering sustainable, compatible, innovative, accessible, affordable housing options for all income levels, including integrated, permanent supportive housing and zoning that helps residents build equity."
Boulevard Gardens seeks to construct a senior affordable housing development with approximatel...
Click here for full text