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 Budget Resolution 2024-159 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 that provides 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 apartments for residents at or below 60 percent of the area median income (AMI) and persons coming out of homelessness.
FINDINGS AND CONCLUSIONS: 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 constructing 59 new one-bedroom affordable housing units in the City of Ocala. During the review of Carrfour's application, it was determined that nearly 90 percent of the Affordable Housing Fund expense account was already encumbered, and this application could not be met fully without going into the fund's reserves. The proposed project is within the West Ocala CRA, and the associated building and 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. A budget resolution will be presented for approval to make funds available for grant payment at project completion. The staff is fully supportive 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.
Source:
623-099-999-559-81-99999 Reserve for Fund Balance ($131,928)
Use:
623-016-560-559-55-82010 Aids to Private Organizations $131,928
PROCUREMENT REVIEW: N/A
LEGAL REVIEW: N/A
ALTERNATIVE:
• Adopt with Changes
• Table
• Deny
BUDGET RESOLUTION 2024-159
A RESOLUTION AMENDING THE FISCAL YEAR 2023-24 BUDGET TO TRANSFER 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 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 Reserve for Fund Balance ($131,928)
USE:
623-016-560-559-55-82010 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