Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
title
A. MOTION TO APPROVE gap financing for four affordable housing projects and associated amounts as follows: 1) Southwest Hammocks/Carrfour or its affiliate (Southwest Hammocks) at $1 million dollars (50 units); 2) City Place/Landmark or its affiliate (City Place) at $3 million dollars (99 units); 3) University Station/Housing Trust Group or its affiliate (University Station) at $6 million dollars (216 units); 4) Pinnacle 441/Pinnacle Communities LLC (Pinnacle 441) at $1.8 million dollars (113 units); authorizing County Administrator to execute all agreements, subject to approval as to legal sufficiency by the Office of the County Attorney, related to the listed gap financing projects; and authorizing the County Administrator to take the necessary administrative and budgetary actions. (Commission Districts 1 and 6)
ACTION: (T-10:44 AM) Approved.
VOTE: 7-0. Commissioner Bogen voted in the affirmative telephonically. Commissioner Moskowitz was not present.
B. MOTION TO APPROVE reallocation of $3,000,000 in gap financing previously awarded to HTG Madison Park, LTD or its affiliate (Madison Park Senior Housing - 103 units), to HTG University Station I, LLC or its affiliate (University Station, LLC - 216 units) to provide gap funding as provided in Motion A; and authorizing the County Administrator to take the necessary administrative and budgetary actions. (Commission District 6)
ACTION: (T-10:44 AM) Approved.
VOTE: 7-0. Commissioner Bogen voted in the affirmative telephonically. Commissioner Moskowitz was not present.
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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
Authorizes the County Administrator to execute agreements for financin...
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