LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
title
URBAN INFILL HOUSING DEVELOPMENT INITIATIVES INTERLOCAL AGREEMENT WITH ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY
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RECOMMENDATION:
recommendation
That City Council approve the Urban Infill Housing Development Initiatives Interlocal Agreement with Escambia County Housing Finance Authority. Further, that City Council authorize the Mayor to execute all documents relating to the initiative’s implementation and administration.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
The Florida Interlocal Cooperation Act of 1969 permits local government units to enter into interlocal agreements to make the most efficient use of their powers and resources and to provide services in the manner best suited to serve the needs and facilitate development of local communities. The partnership established by this interlocal agreement between the City of Pensacola and Escambia County Housing Finance Authority, a regional not-for-profit affordable housing provider, will enhance the ability of both parties to develop workforce housing in the community. Joint participation in the Urban Infill Housing Development Initiatives Interlocal Agreement will allow both parties to develop workforce housing which will support redevelopment initiatives within the community and strengthen the tax base within the City.
This agreement provides the framework for the City of Pensacola and Escambia County Housing Finance Authority to jointly participate in the Housing Finance Authority’s Urban Infill Revolving Loan Program. The workforce housing produced through the Urban Infill Revolving Loan Program will be made available to low, moderate, and middle income families who wish to purchase housing within the City limits. The City may provide property suitable for development, support staff, and technical expertise to implement the program with the Housing Finance Authority providing construction financing and program oversight.
PRIOR ACTION:
N/A
FUNDING:
N/A
FINANCIAL IMPACT:
After recovery of fixed expenses, any proceeds from the sale of property to a qualified buyer will be split equally between the City of Pensacola and the Escambia County Housing Finance Authority. The City’s portion of the proceeds will be allocated to the Housing Initiatives Fund.
CITY ATTORNEY REVIEW: Yes
8/29/2017
STAFF CONTACT:
Eric W. Olson, City Administrator
Marcie Whitaker, Housing Administrator
ATTACHMENTS:
1) Urban Infill Housing Development Initiatives Interlocal Agreement with Escambia County Housing Finance Authority
PRESENTATION: No end