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File #: 25-553   
Status: Agenda Ready
In control: Resilient Environment - Housing Finance Division
Agenda Date: 5/20/2025 Final action: 5/20/2025
Title: MOTION TO APPROVE gap financing for eight affordable housing projects and associated amounts as follows: 1) Sistrunk View, LLC, or its affiliate (Sistrunk View) at $7,500,000 (100 affordable units); 2) Pinnacle at Cypress, LLLP, or its affiliate (Pinnacle at Cypress) at $4,500,000 (100 affordable units); 3) Housing Trust Group, LLC, or its affiliate (Tamarac Terrace) at $4,410,000 (100 affordable units); 4) Vista at Springtree, Ltd., or its affiliate (Vista at Springtree) at $5,759,000 (96 affordable units); 5) Parcview Miramar, LLC, or its affiliate (ParcView at Miramar) at $2,000,000 (62 affordable units); 6) New Urban Sunset Strip, LLC, or its affiliate (Sunset Strip Square) at $1,305,000 (29 affordable units); 7) Habitat for Humanity of Broward, Inc., or its affiliate (BBI Village II) at $910,000 (26 affordable units); and 8) Wright Dynasty, LLC, or its affiliate (Wright Dynasty) at $300,000 (3 affordable units); authorizing the County Administrator to execute all agreements and ...
Indexes: Established Commission Goals
Attachments: 1. Exhibit 1 - Proposed Ranking and Summary Sheet, 2. Exhibit 2 - General Project Location Map
Date Action ByActionResultAction DetailsMeeting DetailsVideo
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Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division

Information
Requested Action
title
MOTION TO APPROVE gap financing for eight affordable housing projects and associated amounts as follows: 1) Sistrunk View, LLC, or its affiliate (Sistrunk View) at $7,500,000 (100 affordable units); 2) Pinnacle at Cypress, LLLP, or its affiliate (Pinnacle at Cypress) at $4,500,000 (100 affordable units); 3) Housing Trust Group, LLC, or its affiliate (Tamarac Terrace) at $4,410,000 (100 affordable units); 4) Vista at Springtree, Ltd., or its affiliate (Vista at Springtree) at $5,759,000 (96 affordable units); 5) Parcview Miramar, LLC, or its affiliate (ParcView at Miramar) at $2,000,000 (62 affordable units); 6) New Urban Sunset Strip, LLC, or its affiliate (Sunset Strip Square) at $1,305,000 (29 affordable units); 7) Habitat for Humanity of Broward, Inc., or its affiliate (BBI Village II) at $910,000 (26 affordable units); and 8) Wright Dynasty, LLC, or its affiliate (Wright Dynasty) at $300,000 (3 affordable units); authorizing the County Administrator to execute all agreements and related documents related to the listed gap financing projects, 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 Districts 3, 4, 7, 8 and 9)

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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 gap financing for eight affordable housing projects totaling $26,684,000 (516 affordable units).

Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward

Previous Action Taken
None taken.

Summary Explanation/Background
THE RESIL...

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