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File #: 22-550   
Status: Agenda Ready
In control: Resilient Environment - Housing Finance Division
On agenda: 5/10/2022 Final action:
Title: MOTION TO APPROVE gap financing for three affordable housing projects and associated amounts as follows: 1) Housing Opportunities Mortgage Assistance & Effective Neighborhood Solutions, Inc. (H.O.M.E.S., Inc.) or its affiliate (Scholars Village) at $2,500,000 (30 units); 2) Habitat for Humanity of Broward, Inc. or its affiliate (Village at Middle River) at $2,500,000 (24 units); and 3) Broward County Community Development Corp., Inc. or its affiliate (Senior Solutions) at $655,315 (six units); authorizing the County Administrator to execute all agreements related to the listed gap financing projects, subject to 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 4 and 8)
Indexes: Established Commission Goals
Attachments: 1. Exhibit 1 - Ranking of Applications
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 three affordable housing projects and associated amounts as follows: 1) Housing Opportunities Mortgage Assistance & Effective Neighborhood Solutions, Inc. (H.O.M.E.S., Inc.) or its affiliate (Scholars Village) at $2,500,000 (30 units); 2) Habitat for Humanity of Broward, Inc. or its affiliate (Village at Middle River) at $2,500,000 (24 units); and 3) Broward County Community Development Corp., Inc. or its affiliate (Senior Solutions) at $655,315 (six units); authorizing the County Administrator to execute all agreements related to the listed gap financing projects, subject to 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 4 and 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 three affordable housing projects totaling $5,655,315 (60 units).

Is this Action Goal Related
Yes

Previous Action Taken
None taken.

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 "Offering sustainable, compatible, innovative housing options for all income-levels, including integrated permanent supportive housing" and the corresponding goal of; "Increase the availability of affordable housing of all types, countywide, in every community using effective, uniform criteria, policies and strategies."

On February 11, 2022, the Housing Finance Division issued a Request for Applications (...

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