LOCAL GOVERNMENT VERIFICATION OF CONTRIBUTION - GRANT FORMLOCAL GOVERNMENT VERIFICATION OF CONTRIBUTION — GRANT FORM
Name of Development: Reserve at Woodlawn
Development Location: 802 Woodlawn Street, Clearwater
(At a provide the address number, street name and city, and/or provide the street name, closest designated intersection and either the
city (if located within a city) or county (if located in the unincorporated area of the county)_ If the Development consists of Scattered Sites, the
Development Location stated above must reflect the Scattered Site where the Development Location Point is located_}
On or before the Application Deadline. the City /County of Clearwater
(Name of City or County)
coinmitted
$ 75,000.00 as a grant to the Applicant for its use solely for assisting the proposed Development
referenced above. The City /County does not expect to be repaid or reimbursed by the Applicant. or any other entity,
provided the funds are expended solely for the Development referenced above. No consideration or promise of
consideration has been given with respect to the grant. For purposes of the foregoing, the promise of providing
affordable housing does not constitute consideration. The conunitment for this grant is effective as of the
Application Deadline referenced above, and is provided specifically with respect to the proposed Development.
The source of the grant is: City of Clearwater General Fund Reserves
(e_g, SHIP, HOME, CDBG)
CERTIFICATION
I certify that the foregoing information is true and correct and that this commitment is effective at least through the
date required in the applicable RFA.
A4LLG.A.
Signature
William B. Home, II
Print or Type Name
City Manager
Print or Type Title
This certification must be signed by the chief appointed official (staff) responsible for such approvals, Mayor, City Manager.
County Manager /Administrator /Coordinator. Chairperson of the City Council /Commission or Chairperson of the Board of
County Commissioners. If the contribution is from a Land Authority organized pursuant to Chapter 380.0663, Florida Statutes,
this certification most be signed by the Chair of the Land Authority. One of the authorized persons named above may sign this
form for certification of state, federal or Local Government funds initially obtained by or derived from a Local Government that
is directly administered by an intermediary such as a housing finance authority, a community reinvestment corporation. or a state-
certified Community Housing Development Organization (CHDO). Other signatories are not acceptable. The Applicant will not
receive credit for this contribution if the certification is improperly signed. To be considered for points, the amount of the
contribution stated on this form must be a precise dollar amount and cannot include words such as estimated; up to, maximum of,
not to exceed, etc.
If the Application is not eligible for automatic points. this contribution will not be considered if the certification contains
corrections or `white -out' or if the certification is altered or retyped. The certification may be photocopied.
Please note: This form may be modified by Florida Housing Finance Corporation per Section 67- 60.005. F.A.C.
(Form Rev_ 01 -14)
RFA 2014 -115
City of Clearwater
Legislation Text
City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File #: ID #14 -739, Version: 1
SUBJECT /RECOMMENDATION:
Approve a grant of $75,000 in General Fund Reserves to be set aside as a commitment as the local
government contribution that is required for applicants to participate in the State of Florida's Low Income
Housing Tax Credit Program (LIHTC) to Housing Trust Group, LLC (Reserve at Woodlawn), a proposed 80-
unit affordable, elderly rental housing development to be developed by the Housing Trust Group; and
authorize the appropriate officials to execute same. (consent)
SUMMARY:
On October 17, 2014, the City's Economic Development and Housing Department released a Request for
Applications (RFA) for projects seeking a local government contribution to apply for the Fiscal Year 2014 -15
State of Florida Low Income Housing Tax Credit Program (LIHTC). The City received two proposals on
November 14, 2014.
The selection committee, made up of Economic Development and Housing and Planning and Development
staff, met and ranked the applications through its published ranking process.
The committee ranked the projects in the following order:
1) Reserve at Woodlawn, by Housing Trust Group, 80 units - elderly (Woodlawn Street and South Fort
Harrison Avenue)
2) Town Lake Apartments, by Beneficial Development, 70 units - family (Laura Street and Martin Luther
King, Jr. Avenue)
The top recommended project is the Reserve at Woodlawn Apartments and consists of 80 one and two -
bedroom units located in one building that will serve the elderly demographic. Some of the amenities in the
project include a swimming pool, clubhouse, grill area, putting green, dog walk and victory garden. Resident
services will include on -site health care services, tenant activities, planned daily activities, resident assurance
check program, and an on -call 24 -hour per day manager. The subject site is located near Woodlawn Street
and South Ft. Harrison Avenue in the Lake Bellevue Neighborhood Revitalization Strategy Area. The
proposed development team is Housing Trust Group (Developer), (Contractor not selected), and BGD
Architects who have successfully worked together on the development of more than 15,000 LIHTC units.
Staff is recommending a funding commitment to Reserve at Woodlawn as the top- ranked project using
$75,000 from General Fund Reserves and /or a combination of funds from the Housing Division if available at
the time of project award. According to LIHTC program rules, only one project per Large County will be funded
for development through this tax credit cycle.
Staff does not recommend a commitment to the second - ranked project. The second - ranked project, Town
Lake Apartments, is a proposed mixed -use project, with all affordable units and commercial space on Laura
and MLK. It does not meet the goal of the Community Redevelopment Agency (CRA) to increase family
incomes in the Town Lake Residential Character District. In addition, a higher density project that
City of Clearwater
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File #: ID #14 -739, Version: 1
encompasses the entire site is desired. The project also did not meet the overarching policy perspective
defined by the CRA, that a mixed - income project (both market rate and affordable units) is preferred in the
Downtown Core, Town Lake Business, and Town Lake Residential Character Districts to create a strong
market to support the retail /restaurant, technology workforce, and event recruitment efforts in the Cleveland
Street District. Staff would not recommend any incentives to a build LIHTC -type project at this location.
The application period for the LIHTC Program for Large Counties (Duval /Hillsborough /Orange /Pinellas)
opened on November 14, 2014 with applications due February 3, 2015. The final board approval is scheduled
for May 2015. If no City of Clearwater projects are funded, the commitment for General Fund Reserves would
be released.
As background, the Low Income Housing Tax Credit Program is governed by the U.S. Department of Treasury
under Section 252 of the Tax Reform Act of 1986 and Section 42 of the Internal Revenue Code, as amended.
The program was established to provide for - profit and non - profit organizations with a dollar- for - dollar reduction
in federal tax liability in exchange for the acquisition and substantial rehabilitation or new construction of low
and very low- income rental housing units (60% of the Area Median Income and below with a set aside for 40%
of AMI and below). In this application cycle, the minimum value of contributions required from a government
agency for a Tax Credit Program application to receive the maximum points is $75,000. It is the City's
understanding that in order to meet this requirement the local government needs to make a commitment to
each project they are supporting.
The balance in General Fund reserves is approximately $17.3 million, or 14.8% of the 2014/15 General Fund
operating budget.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
The balance in General Fund reserves is approximately $17.3 million, or 14.8% of the 2014/15 General Fund
operating budget.
City of Clearwater
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