City Commissioners Approve $2 Million for Orange Avenue Affordable Housing Redevelopment Project

City Commissioners Approve $2 Million for Orange Avenue Affordable Housing Redevelopment Project

At their meeting on Oct. 28, the City Commissioners unanimously approved a total of $2,000,000 in funding in support of the Florida Housing Finance Corporation applications for the Orange Avenue Affordable Housing Redevelopment project.

The Orange Avenue Affordable Housing Redevelopment project aims to address needs in the South City community. The project will redevelop the Orange Avenue Public Housing complex into a mix of housing options in phases over years.

Columbia Residential Inc., the project’s developer, plans to apply for Low-Income Housing Tax Credit (LIHTC) and State Apartment Incentive Loan (SAIL) funding in partnership with the Tallahassee Housing Authority.

“Their application is in support of Phase II of the full-scale redevelopment of the 200-unit Orange Avenue Public Housing complex into a 390-unit mixed-income development which will include a combination of public housing, affordable rental housing and market-rate rental housing,” staff reports.

To maximize the opportunity for tax credit and SAIL funding, two applications will be submitted.

“One application will be for a 110-unit affordable senior housing development, Magnolia Senior, and one application will be for a 160-unit affordable family housing development, Magnolia Family II,” staff reports.

The City Commissioners approved contributing funding to support the applications. According to the meeting agenda, if a local government commits to a level of funding support, a project can qualify as a Local Government Area of Opportunity (LGAO) proposal, making the project’s application more likely to be selected for funding.

The Commissioners voted to accept a $1,500,000 Community Redevelopment Agency contribution as well as to leverage $500,000 from state and local housing trust funds to support the applications. The City’s total $2,000,000 commitment will take the form of a 55-year loan with a 0.01% interest rate.

“This loan arrangement allows the City assistance to be seen by the FHFC as essentially a ‘grant,’ and the repayment terms do not impact the debt structure of the development,” staff reports.

Previously, in 2019, Columbia Residential received SAIL and 4% housing credits for Phase I of the project. At that point, the City and the CRA contributed a total of $1,300,000.

7 Responses to "City Commissioners Approve $2 Million for Orange Avenue Affordable Housing Redevelopment Project"

  1. Avatar
    Snidely Whiplash   October 30, 2020 at 8:10 am

    This project is totally the type our unscrupulous leftist elected officials and their partners in the local economey such as construction companies run by local buddies will feel will fly under the radar. Our local elected nannies are kind of raciest that way thinking no one that matters will look into their shenanigans for low income housing. I cant wait to see the graft, corruption, and kickbacks that will come to light by our incompetent bungling idiot l9cal elected nannies. We wont need Jim Comey’s local FBI weasels to get involved. Our local elected nannies will screw up their own money hungry plans and bring their wickedness to light by their own bungling!!!
    This is gonna get real good real soon…sit back and watch the comedy to come!!!!

    Reply
  2. Avatar
    Rick   October 29, 2020 at 11:28 am

    Commissioners voted to accept a $1,500,000 Community Redevelopment Agency contribution??? They are the Community Redevelopment Agency!!

    Reply
  3. Avatar
    Edward Lyle   October 29, 2020 at 9:09 am

    “Low-Income Housing”… “Public Housing”… “affordable senior housing”… “affordable family housing”…

    Lots of “vote for me” and “liberal feel good” semantics at play to cover what are, historically, taxpayer funded money pits.

    “All Hat; No Cattle”

    Reply
  4. Avatar
    Mike L   October 28, 2020 at 6:53 pm

    So the city is plowing millions into a dilapidated public housing project… so a bunch of their developer buddies can cash out at the taxpayer’s expense and leave the place worse off.

    Here’s an idea, why don’t you use that 2 million to fix the Open sewer along Orange Avenue across from Seminole golf course? It smells disgusting, and it has for years!

    Reply
  5. Avatar
    TONY   October 28, 2020 at 3:57 pm

    Has ANY of the City & County Commissioners EVER do a Walk Thru of the Affordable Housing areas and actually do a Walk IN of the Homes and Apartments just to SEE how they are being kept? The tenants rarely Clean anything, they trash the place, junk every where, Cabinet Doors removed, holes punched in doors and walls, etc. They will not take care of the very place they are living and you just keep doing it. At least make it where you get to do Inspections to make sure they keep the place neat and clean.

    Reply
  6. Avatar
    Hope   October 28, 2020 at 1:43 pm

    This shows the lack of new industry that the local Democrats have been unable to attract to increase jobs.

    Curtis should have made a difference by people being able to have jobs to buy nice homes not more affordable housing.

    Curtis Richardson has failed to deliver to his constituents.

    Vote Bill Schack City Commission 2020!

    Reply
  7. Avatar
    David   October 28, 2020 at 12:20 pm

    aw yeah! Let’s put some orange trees on Orange Ave!

    Reply

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