Title
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Charlotte HOME Award Recommendation - Sovereign at Harbor West (SAHW)
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recommendation
Human Services
a) Approve the application and award incentives and fee subsidies as recommended; or
b) Approve the application and award incentives and fee subsidies with modifications to the recommendation; or
c) Deny the application; and
d) If approved, authorize the County Administrator or his/her designee to approve and execute a Land Use Restriction Agreement (LURA) outlining the terms of affordability and compliance.
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Budgeted Action:
No action needed.
Background:
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Charlotte HOME (Housing Opportunities Made Easier), an incentive program for affordable housing developers, was adopted by the Board of County Commissioners (BCC) to reduce barriers and attract developers of affordable housing to Charlotte County. Available incentives include (but are not limited to): expedited permitting; impact fee waiver; land donation; density; utility connection and other fee subsidies; etc.
Applications for incentives are reviewed by a panel of representatives from: Community Development; Human Services/Housing; Utilities; and the City of Punta Gorda, as appropriate. Incentives are determined on a tiered basis contingent upon the score achieved on the prioritization matrix. Tier II, III and IV applications require AHAC and BCC approval.
The Strategic Group requests incentives and subsidies for the development of Sovereign at Harbor West ("SAHW"), a proposed 32-unit, 100% affordable multi-family development, consisting of 1- and 2-bedroom garden style apartments, targeting family households at or below 60% of Charlotte County AMI.
The Applicant received a cumulative Charlotte HOME score of 106, qualifying them for expedited permitting, impact fee waivers, density (if applicable), and 100% of eligible fee subsidies, not to exceed $650,000. A schedule of estimated fees eligible for subsidy is provided for the purpose of encumbrance of approved award.
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