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 ho...
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