Title
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Hurricane Housing Recovery Program Update and Loan Authorization
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recommendation
Human Services
a) Approve a Hurricane Housing Recovery (HHR) Non-profit/Low-income/Special Needs Rental Rehabilitation loan for Presbyterian Homes of Port Charlotte (PHPC) in the amount of $2,500,000; and
b) Approve a Hurricane Housing Recovery (HHR) Multi-family Construction loan for Sovereign at Parkside East in the amount of $400,000; and
c) Approve a Hurricane Housing Recovery (HHR) Multi-family Construction loan for Sovereign at Harbor West in the amount of $400,000; and
d) Approve a Hurricane Housing Recovery (HHR) Non-profit/Low-income/Special Needs Rental Rehabilitation loan for Vincentian Villas I in the amount of $800,000; and
e) Approve a Hurricane Housing Recovery (HHR) Non-profit/Low-income/Special Needs Rental Rehabilitation loan for Vincentian Villas II in the amount of $800,000.
**Change, Added attachment - Revised HHR Update and Loan Authorization Presentation, 3/4/2026**
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Budgeted Action:
No action needed. Budgeted in the FY2026 Hurricane Housing Recovery (HHR) Fund. There is no local match required. Funding for the expenditures will come from the Hurricane Housing Recovery Program.
Background:
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Charlotte County’s State Housing Initiatives Partnership (SHIP) Program provides affordable housing assistance to eligible applicants through various Local Housing Assistance Plan (LHAP) housing and incentive strategies. Certain community partners have applied to the County seeking SHIP Program funding to assist with the costs associated with the development/redevelopment of multi-family housing. Per SHIP Program guidelines, funding requests exceeding $150,000 require BCC approval.
Hurricane Ian made landfall August 2022. On December 16, 2022, Governor DeSantis signed Senate Bill 4A for Hurricane relief related to hurricanes Ian and Nicole. Charlotte County was awarded $7,134,450 with a June 30, 2025 expenditure deadline. The Local Housing Assistance Plan (LHAP) has been revised to incorporate HHR provisions into certain strategies. While applications for individual assistance, including rent/mortgage, insurance deductibles, home repairs, and relocation have been continuously accepted via www.coadfl.org, and paid for with both HHR and SHIP-disaster funding, rental rehabilitation for Ian-damaged units and new rental development have been prioritized with HHR.
Subsequent hurricanes have resulted in the damage/loss of >150 affordable rental units. New construction of units funded through Florida Housing Finance Corporation (FHFC) RFAs with hurricane-related funding are now seeking HHR funds to supplement those awards due to delays, cost-overruns, and plans for increased resiliency of developed units. The BCC has already authorized the execution of loans to Blue Sky Communities (Blue Deep Creek), CASL (Stillwater), and Solis Investments (Paradise Rentals). Additional requests have been received from Presbyterian Homes (PHPC), National Development of America (Sovereign East and West), and St. Vincent de Paul (Vincentian Villas I & II).
FHFC has waived the Rental/Homeownership set-aside, and extended the expenditure deadline to June 30, 2028 to accommodate these rental rehab/development requests. These final loans will fully encumber available SHIP HHR funding. These are large investments proposed for the affordable housing inventory that require thoughtful consideration prior to award.
Pursuant to Resolution 2023-096, all loan documents (Mortgage, Note, and LURA) will be reviewed and approved by the County Attorney and executed by the County Administrator or his or her designee.
Provided for review and consideration are: a presentation slated for 3/10 agenda; the Local Housing Assistance Plan (LHAP) Non-profit/Low-income/Special Needs Rental Rehabilitation strategy; the Multi-Family Construction/Rehabilitation strategy; and Charlotte HOME/HHR applications for each development.
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