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...
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