At the most recent City Commission meeting, the City of Tallahassee entered in an agreement with Big Bend Habitat for Humanity to sponsor construction of three homes with a donation of $195,000 in funding and 600 hours of volunteer time.
The City is eligible for a rebate of 50% of the appraised value of the constructed homes through The State Community Contribution Tax Credit Program (CCTCP). The CCTCP offers tax rebates for eligible entities to encourage contributions to community development and housing projects that benefit low-income residents. The maximum rebate amount is $200,000 per year.
The City partnered with Big Bend Habitat in May 2017 to build two homes with a donation of $130,000. The City received a reimbursement of $115,000 or 88% of the initial donation through rebates from the CCTCP.
The City is recommending drawing the $195,000 from the Affordable Housing Trust Fund, thus reducing the fund from approximately $1.7 million to $1.5 million with the expectation of recouping a significant portion of the donation. The City will be responsible for providing approximately $12,000 from its operating budget for food and refreshments for volunteers.
Construction is set to begin March 2018 and be completed by June 2018.
City Approves Agreement with Big Bend Habitat for Humanity added by Staff on
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