Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Public Works and Environmental Services
Division: Housing Finance Authority
Information
Requested Action
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MOTION TO APPROVE Funding Agreement between Broward County and MMG Plantation II, LLC, a Florida limited liability company ("Owner"), providing funding to Owner in the total aggregate amount not to exceed $6,000,000 to facilitate the development of approximately 307 mixed-income dwelling units (including 123 affordable units) in the City of Plantation ("City"); to authorize the Mayor and Clerk to execute the Agreement; and to authorize the County Administrator to take all necessary administrative and budgetary actions to implement same. (Commission District 9)
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Why Action is Necessary
Approval by the Board of County Commissioners is required to enter into the Funding Agreement.
What Action Accomplishes
Approves a Funding Agreement to provide funding up to $6,000,000 for the construction of the Residences at Plantation Square, a housing development comprising approximately 307 dwelling units, of which 25% of the units (77 units) will be income restricted to households earning up to 80% Area Median Income ("AMI") and 15% of the units (46 units) will be income restricted to households earning up to 120% AMI for a period of 30 years following the project completion date.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
None taken.
Summary Explanation/Background
THE PUBLIC WORKS AND ENVIRONMENTAL SERVICES DEPARTMENT AND THE HOUSING FINANCE AUTHORITY 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."
The Residences at Pla...
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