DEPARTMENT MAKING REQUEST
Human Services
Title
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Charlotte HOME Review Committee and Affordable Housing Advisory Committee (AHAC) Recommendation – Verification of Impact Fee Waiver for Proposed Affordable Housing Development: Arbours at Punta Gorda Phase 1
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REQUESTED MOTION/ACTION
recommendation
Recommended Action:
a) Approve the recommendation for the waiver of impact fees on ninety-six (96) units of affordable housing; and
b) Authorize the Chairman to execute the Verification of Contribution (VOC) form.
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budget
Budgeted Action:
No action needed. A budget amendment will be brought to the Board for approval, if awarded. There is a required County contribution of $388,704.00. Funding will be provided by the Affordable Housing Trust Fund. Funding in the amount of $388,704.00 will be provided from Fund 1053.
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BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
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Background:
Arbour Valley Development, LLC has applied for Charlotte HOME incentives toward the development of The Arbours at Punta Gorda, a 180-unit affordable housing development proposed at 6527 Florida St., Punta Gorda. This development is planned in 2 phases. Phase 1, consisting of 94 units reserved for persons at or below 60% Area Median Income (AMI) on average, is subject to meeting Live Local Act criteria (zoned Commercial), and is contingent upon the award of Florida Housing Finance Corporation (FHFC) Request for Application (RFA) 2026-205 SAIL Financing Of Affordable Multifamily Housing Developments To Be Used In Conjunction With Tax-Exempt Bond Financing And 4% Housing Credits. The leveraged fund source for phase 2 is not yet fully determined (see pg.3 of the application). FHFC RFA 2026-205 requires local government contribution in the form of a grant, loan, fee deferral, or fee waiver. The contribution amount for Charlotte County must meet the minimum value of $20,000. FHFC RFA 2026-205 contains full details (starting on pg.98).
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