Submitted By: Roberto Ellis
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Presentation By: Aubrey Hale
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Approve Ocala Community Redevelopment Agency Affordable Housing Program to be implemented in the West Ocala, East Ocala, and North Magnolia Community Redevelopment Agency subareas
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OCALA’S RELEVANT STRATEGIC GOALS:
Quality of Place, Economic Hub
PROOF OF PUBLICATION:
N/A
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BACKGROUND: The Ocala 2035 Vision states Ocala is a community of neighborhoods and calls out the importance of the Community Redevelopment Agency (CRA) in driving redevelopment and establishing strong neighborhoods. Ocala, like many other cities, is faced with increasing housing affordability needs. These challenges are prevalent in the three subject areas, West Ocala, North Magnolia, and East Ocala. The respective CRA plan for each subarea identifies varying degrees of blighted conditions including deteriorated or deteriorating structures; need for site and/or other improvements; lag in assessed values of real property compared to City average; and unsafe living conditions. The CRA aims to provide grants and incentives to further encourage private redevelopment investments that are consistent with the redevelopment plans. The proposed program supports the following Goals and Objectives of the three subareas:
FINDINGS AND CONCLUSIONS: The program will assist with easing the cost burden of low-income households and improve their ability to meet housing needs. The CRAs offer these incentives to offset development costs, preserve existing housing stock, and provide affordable housing solutions. Improving the existing housing options will encourage the construction of new housing. Key details of the proposed Affordable Housing Program are summarized as follows:
• The Community Development Services (CDS) and Growth Management (GM) staff will work within each CRA subarea to identify suitable projects/applicants and manage the implementation of the program through a collaborative effort.
• Eligible applicants should have a total household income at or below 120 percent of the area median household income for the Ocala MSA adjusted for household size.
• The program will provide grant funding to support building façade improvements; increase property aesthetics; address health and safety concerns through weatherization; ensure safe demolition of severely dilapidated structures; and promote new construction on vacant properties. The funding can also be used for down payment assistance and rental assistance on a case-by-case basis.
• The appropriate CRA Advisory Committees reviewed the framework and recommended approval of the initiative. Meetings were held as follows: East Ocala CRA - February 13, 2024; West Ocala CRA - February 15, 2024; and North Magnolia CRA- February 28, 2024.
• Funding for the Affordable Housing Program will be appropriated annually subject to the availability of CRA funds.
The Community Services Department provided valuable feedback on the framework and will continue to work with the CRAs to provide resources for the neighborhoods. The program is considered to be an integral step in continuing the neighborhood revitalization. Staff recommends approval.
FISCAL IMPACT:
Adequate funding is available in the respective CRA grant accounts. The West Ocala CRA grant account (623-016-560-559-55-82010) has a total balance of $320,783 in Fiscal Year 2024; $150,000 will be allocated for the affordable housing grant program initiative in West Ocala. The East Ocala CRA grant account (620-016-559-559-55-82010) has an unencumbered balance of $308,228 in Fiscal Year 2024; $100,000 will be allocated for the affordable housing grant program initiative in East Ocala. The above total balances reflect amounts carried forward from Fiscal Year 2023. Funding for the initiative in the North Magnolia CRA subarea will be budgeted in Fiscal Year 2025.
PROCUREMENT REVIEW: N/A
LEGAL REVIEW: N/A
ALTERNATIVE:
• Approve with changes
• Table
• Deny