Submitted By: James Haynes
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Presentation By: James Haynes
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Department: Community Development Services
STAFF RECOMMENDATION (Motion Ready):
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Adopt CRA Budget Resolution 2024-101 amending the Fiscal Year 2023-24 budget to transfer funds from the West Ocala Community Redevelopment Area fund reserves to support Carrfour Supportive Housing, Inc.’s request for funding to pay building and impact fees associated with the production of 59 affordable housing units in the amount of $131,928
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OCALA’S RELEVANT STRATEGIC GOALS:
Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND: The Saving Mercy Corporation (Saving Mercy) is a non-profit organization in Ocala providing affordable housing and case management services to at-risk and vulnerable homeless individuals. Saving Mercy has partnered with Carrfour Supportive Housing Inc. (Carrfour) of Miami, FL, on a project called Mercy Village. Phase I of the project will produce 59 new one-bedroom apartments for residents at or below 60 percent of the area median income (AMI) and persons coming out of homelessness.
FINDINGS AND CONCLUSIONS: Agenda item# 2024-1936 provides detailed background to support this item.
On or about March 4, 2024, Carrfour applied to the City to access Affordable Housing Funds to offset the building and impact fees associated with the construction of 59 new affordable housing units in the City of Ocala. At the time of Carrfour’s application, a significant portion of the Affordable Housing Fund was encumbered. The application could not be fully funded without going into reserves. In January 2024, Chapter 106 of the City’s Land Development Regulations was amended to allow utilization of CRA funds in-lieu of affordable housing incentive funds.
This proposed project is within the West Ocala CRA and associated impact fees are eligible to be paid from the West Ocala CRA fund. This will allow the City to maximize its ability to support the production of affordable housing units. This project is scheduled to be completed in Fiscal Year 2024-25. Staff is in full support of this project and recommends its approval.
FISCAL IMPACT: The West Ocala CRA has a balance of $1,566,676 in the reserve account (623-099-999-559-81-99999). This investment in affordable housing will have a significant positive impact on our community. The $131,928 will be paid from expense account 623-016-560-559-55-82010.
PROCUREMENT REVIEW: N/A
LEGAL REVIEW: N/A
ALTERNATIVE:
• Adopt with Changes
• Table
• Deny
CRA BUDGET RESOLUTION 2024-101
A RESOLUTION AMENDING THE FISCAL YEAR 2023-24 BUDGET TO TRANSFER FUNDS FROM THE WEST OCALA REDEVELOPMENT AREA RESERVES TO SUPPORT CARRFOUR SUPPORTIVE HOUSING INC.’S REQUEST FOR FUNDING TO PAY BUILDING AND IMPACT FEES ASSOCIATED WITH THE CONSTRUCTION OF 59 AFFORDABLE HOUSING UNITS IN THE AMOUNT OF $131,928
WHEREAS, Saving Mercy Corporation (Saving Mercy) is a non-profit organization based in Ocala, FL which provides affordable housing and case management services to at-risk and vulnerable homeless individuals; and
WHEREAS, Saving Mercy has partnered with Carrfour Supportive Housing Inc.(Carrfour) of Miami, FL, on a project to construct 59 new one-bedroom apartments for low-income households and persons coming out of homelessness; and
WHEREAS, Carrfour applied to the City to access Affordable Housing Funds; and
WHEREAS, the City’s Affordable Housing Fund could not fully meet the request for funding; and
WHEREAS, the proposed project is within the West Ocala CRA and is eligible to have the associated building and impact fees paid from the West Ocala CRA fund.
NOW THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF OCALA, FLORIDA, duly assembled in regular session, that the Fiscal Year 2023-24 budget be amended to appropriate $131,928 to carry out activities as outlined below.
SOURCE:
623-099-999-559-81-99999 West Ocala CRA - Reserve for Fund Balance $131,928
USE:
623-016-560-559-55-82010 West Ocala CRA Aids to Private Organizations $131,928
This resolution adopted this ______ day of ______________________, 2024.
ATTEST: CITY OF OCALA
By: By:
Angel B. Jacobs Barry Mansfield
City Clerk President, Ocala City Council
Approved as to form and legality:
By: _________________________________
William E. Sexton
City Attorney
Reviewed for accounting accuracy & completeness:
By: _________________________________
Peter A. Lee
City Manager