Broward County Commission Regular Meeting
Director's Name: Henry A. Sniezek
Department: Environmental Protection Division: Housing Finance & Comm. Redevelopment
Information
Requested Action
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MOTION TO APPROVE Rescinding Conditional Funding Approval of the proposed award of $2,450,000 of Gap Financing for the 8th Avenue Commons Affordable Housing Project in the City of Hallandale Beach, Florida due to the elimination of the project team (Urban Framers Inc. and BHP Community Land Trust Inc. dba the South Florida Community Land Trust) "the Development Team" as presented, evaluated and scored in the Request For Proposal (RFP) process and approved by the Board of County Commissioners (BOCC) at the February 12, 2019, Commission meeting (Item No. 12). (Commission District 8)
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Why Action is Necessary
An action by the Board of County Commissioners (BOCC) to rescind the proposed award of $2,450,000 is required because the RFP was conditioned on approval of a development agreement between the County and the Development Team.
What Action Accomplishes
Rescind award of $2,450,000 in Gap Financing, reallocating the funds to the Housing Trust Fund.
Is this Action Goal Related
Yes
Previous Action Taken
BOCC approved proposed loan to Urban Framers Inc. and BHP Community Land Trust Inc. dba the South Florida Community Land Trust on February 12, 2019 (Item No. 12), in the amount of $2,450,000 for gap financing for the 8th Avenue Commons project for new construction of 200 affordable rental apartments in the City of Hallandale Beach, Florida.
Summary Explanation/Background
THE ENVIRONMENTAL PROTECTION AND GROWTH MANAGEMENT DEPARTMENT AND THE HOUSING FINANCE AND COMMUNITY REDEVELOPMENT DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board's value: "Offering sustainable, compatible, innovative housing options for all income-levels, including integrated, permanent supportive housing: and the corresponding goal of "Increase...
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