City to Vote on $600K for Public Housing Project

City to Vote on $600K for Public Housing Project

At their next meeting, the Tallahassee City Commission will vote on a recommendation to provide $600,000 in additional funding for a major public housing project.

The City and the Tallahassee Housing Authority (THA) have created a redevelopment plan for the Orange Avenue public housing complex. The 200-unit apartment complex will be replaced with 390 residential units that will include “public housing, affordable rental housing, and market rate rental housing.”

Approximately $425,625 has been provided to the city by the Community Redevelopment Agency (CRA) for the housing project. This level of support qualifies the project as a Local Government Area of Opportunity (LGAO) project, therefore improving the chances of receiving additional funding from Low Income Housing Tax Credits (LIHTC) that were applied for.

In May, the City applied for $2 million through the CDBG Disaster Recovery program to help with development. The Department of Economic Opportunity (DEO) suggested that funding would be provided, so the city built this expected funding into their model. However, DEO has not funded the grant request and the project now has a funding gap.

The total cost for the housing project is estimated at $22,108,761. If the LIHTC award is received, funding will cover roughly $16,148,385. The balance remaining would be covered by “conventional financing and contributions by THA and the City.” The budget has been revised, with a gap of $600,000.

The City’s contribution would total $1,025,625 if they receive LIHTC funds. It is recommended that the $600,000 be provided by the City Affordable Housing Trust Fund (AHTF). If the city receives the tax credit allocations they’ve applied for, the City can request that the CRA reimburses the AHTF for its contribution.

5 Responses to "City to Vote on $600K for Public Housing Project"

  1. Jon   November 14, 2018 at 2:08 pm

    Housing isn’t the problem. Income is. I don’t see how a higher density of poverty is going to change get that.

    Reply
  2. News Maven   November 15, 2018 at 1:34 am

    That comes out to about $110,500/unit. For “public housing?” Sounds too expensive to me. Which of our city/county commissar’s buddies will be raking it in on this deal? And exactly where on Orange is this Project proposed to be built?

    Reply
  3. LP   November 15, 2018 at 9:17 am

    I’m fairly certain this is in the block bounded by Orange on the South, Brighton on the west, Putnam on the north, and Country Club Drive on the east. If they build the 390 units, it’s “only” $56,700 per unit, but another way to look at it is a net increase of 190 units at a cost of $22M, which puts the cost up >$100,000 per unit.

    Reply
  4. rb   November 15, 2018 at 11:42 am

    Great………lets spend some more taxpayer”s money on southside do gooder projects. Does anyone see where this actually benefits the so called “”poor”” ? Build a tent city for the unfortunate which will encourage the residents not to become a life time resident in subsidised housing , and up grade themselves to work hard AND move on to a better life style ! Incentive is the answere… not free stuff and subsidised housing !!

    Reply
  5. Charlene Wilson   November 16, 2018 at 3:16 pm

    I agree with rb! Such a waste of taxpayer money to keep dishing out to those in poverty who have no ambition or plans to better themselves! Such people would rather continue taking it from the workers while they loll around and continue to reproduce themselves! People who are truly disabled and unable to care for themselves, should definitely receive assistance, but most do not fall into that category!

    Reply

Leave a Reply

Your email address will not be published.