Agenda Item Name:
Title
Alachua County Housing Finance Authority (HFA) Dogwood Village Development
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Presenter:
Claudia Tuck (352) 264-6704
Shannon Nazworth, Ability Housing, Inc. (904) 259-9650 ext. 106
Description:
Dogwood Village Development Presentation
Recommended Action:
Recommended Action
Hear the Dogwood Village Development Presentation
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Prior Board Motions:
September 20, 2020 BoCC approved Local Government Contribution Loan
Fiscal Consideration:
Fiscal Consideration
$230,000.00 will need to be identified if approval to move forward is given.
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Strategic Guide:
Strategic Guide
Housing
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Background:
On September 20,2020, Alachua County Board of County Commissioners approved match for the Alachua County Housing Finance Authority (HFA) loan funding commitment in the amount of $230,000 for an applicant that receives approval under the State Apartment Incentive Loan Program (SAIL). This approval for the Local Government Contribution Loan was based on the release of loan funding, contingent on the applicant executing the appropriate loan and other documents required by the County that are consistent with applicable statutes and administrative rules governing the programs. The HFA will match with $230,000 in support of SAIL towards a Low-Income Housing Tax Credit (LIHTC) application. The total funding available is $460,000.
In August 2021, Ability Housing Inc. applied in response to the Alachua County Housing Finance Authority Local Government Area of Opportuning Funding Loan Application NOFA-RFA 2021-201. This funding is in conjunction with the Florida Housing Finance Coalition. Ability’s Housing Inc. submitted the proposed Dogwood Village Development which is in the area of the City of Gainesville commonly referred to as Lincoln Estates, at/near SE 8th Avenue and SE 15th Street, Gainesville, Florida. The Dogwood Village proposal is a garden type, wood 3-story 96 units for families. Dogwood Village will consist of 40 one-bedroom, 40 two-bedroom, and 16 three-bedroom units. Dogwood Village will have 90% of the units set aside for 60% AMI and the remaining 10% of the units will be set aside for the Extremely Low-Income units at 33% AMI. Dogwood Village total development cost is approximately $21,136,985.00 at a cost of approximately $220,176.93 per unit.
The groundbreaking begin construction is expected to begin as of June 2023 and to completed by June 2024 with occupancy slated for October 2024.
Ability Housing, Inc. is a nonprofit affordable housing developer located in Jacksonville, Florida. Ability has been developing affordable housing for over 15 years. Since then, Ability has created 728 units of affordable housing.