TO: Mayor and Commission AGENDA DATE: 8/5/2024
FROM: City Manager AGENDA ITEM: 11 - E
SUBJECT:
Title
Request approval to expend no more than $60,000.00 (per property), in Florida Housing Finance Corporation State Housing Initiatives Partnership (SHIP) funds for the Owner-Occupied Repair projects, listed below.
Strategic Goal: Community Development and Redevelopment
Body
LOCATIONS:
569 Baldwin Court
731 Nardello Drive
1185 W. Page Drive
COST:
Cost not to exceed $60,000.00 (per property)
SOURCE OF FUNDS:
Florida Housing Finance Corporation (SHIP) (104540-524900-51003)
ORIGINATING DEPARTMENT:
Housing and Community Development
POTENTIAL MOTION:
Recommendation
“I hereby move to direct staff to move forward with Owner Occupied Rehabilitation projects for the properties located at:
569 Baldwin, in the amount of $47,850.00, and
731 Nardello Drive, in the amount of $58,518.00
1185 W. Page Drive, in the amount of $53,300.00
The property’s expenditures will not exceed $60,000.00 (for each property), and Staff will utilize Florida Housing Finance Corporation SHIP funds to fund the rehabilitation.”
END
BACKGROUND:
Background
The City is an entitlement community and receives funds from the Florida Housing Finance Corporation under the State Housing Initiatives Partnership (SHIP) program. The City operates a SHIP approved program known as Owner Occupied Rehabilitation (OOR). The OOR program assist residents with home repairs.
Staff has determined the households/properties below should be considered “low” income, based on income and household size (number of people residing in the house). The income thresholds are predicated on area median income data derived from the Deltona, Daytona Beach, and Ormond Beach Municipal Statistical Area (MSA).
The SHIP income approved properties are:
569 Baldwin Court
731 Nardello Drive
1185 W. Page Drive
For more detailed information related to the scopes of work, see the attached rehabilitation proposals from Parthy Construction. Parthy Construction was the lowest bidder, among all the bidders, for the above referenced properties.
Finally, the State funds invested in these properties will be subject to a non-interest-bearing lien with a 10-year life. If the property is sold or refinanced within the 10-year timeframe, the City will need to be repaid the money invested in these properties. However, if the present owners remain in the property beyond the 10-year timeframe, the lien will be forgiven.
End