DEPARTMENT MAKING REQUEST
Human Services
Title
title
Local Government Area of Opportunity (LGAO) 2025
end
REQUESTED MOTION/ACTION
recommendation
Recommended Action:
a) Approve the Charlotte HOME Review Committee recommendation for Housing Trust Group's Murdock Square to receive local preference for LGAO 2025 and local government contribution of $340,000, contingent upon the award of the 9% Low-Income Housing Tax Credit (LIHTC) through Florida Housing Finance Corporation (FHFC) RFA 2025-201; and
b) Authorize the Chairman to execute the LGAO Funding Form for submission with the developer's application.
end
budget
Budgeted Action:
No action needed. A Budget Adjustment to the Affordable Housing Trust Fund will be brought to the Board when incentives are awarded.
end
BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
body
Background:
Local Government Area of Opportunity (LGAO) funding is for developers seeking local preference and local government contribution toward their application for Florida Housing Finance Corporation's (FHFC) RFA 2025-201 Housing Credit Financing for Affordable Housing Developments Located in Medium and Small Counties. The minimum contribution amount is $340,000. The available, unencumbered balance in the Affordable Housing Trust Fund as of 10.01.2025 is $348,043.27.
A Request for Applications (RFA) for LGAO was issued on 09.11.2025. With an application deadline of 10.08.2025, only one (1) application was received from the Housing Trust Group (HTG) for Murdock Square, a proposed 88-unit property with units reserved for households with income at or below 60% Area Median Income (AMI). The term of affordability is proposed for 50 years, as required for 9% LIHTC projects. The parcel is located at 19400 Veterans Blvd. in Port Charlotte. It is zoned General Industrial. A Live Local designation has been requested and is under review. A disposition on that request will be required in order for HTG...
Click here for full text