MOTION TO APPROVE gap financing for five affordable housing projects and associated amounts as follows: 1) Sunshine Shipyard LLC, or its affiliate (The Arcadian) at $5,000,000 (100 affordable units out of 478 total units); 2) Pine Island Park, LLC or its affiliate (Pine Island Park) at $5,400,000 (120 affordable units); 3) HTG Vista, Ltd. or its affiliate (Hollywood Vista) at $6,490,000 (118 affordable units); 4) HTG Paramount, Ltd. or its affiliate (Paramount Place) at $6,500,000 (110 affordable units) and 5) Village of the Arts, Ltd. or its affiliates (Village of the Arts) at $5,000,000 (143 affordable units out of 162 total units); authorizing the County Administrator to execute all agreements related to the listed gap financing projects, subject to the foregoing monetary limits and approval as to legal sufficiency by the Office of the County Attorney; and authorizing the County Administrator to take the necessary administrative and budgetary actions. (Commission Districts 6, 8 and 9)

Consent Item Agenda Ready Introduced April 15, 2024

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Committee: Public Works and Environmental Services - Housing Finance Authority
Requested by: Resilient Environment - Housing Finance Division
Introduced: April 15, 2024
On agenda: June 18, 2024
Passed: June 18, 2024