Proposed City of West Park’s In-Fill Lot / Affordable Homes Development Pilot Program

The City of West Park is seeking to replicate the pilot Broward Municipal Services District (BMSD) In-Fill Lot Development Program that the County Commission supported unanimously by Resolution No. 2017-085 on March 14, 2017. The BMSD In-Fill Lot Development program is a part of the County’s overall LHAP strategy designed to enhance and preserve neighborhoods by awarding lots and buyer down payment/purchase assistance funds to eligible developers or contractors to construct in-fill housing or develop single-family housing for resale within unincorporated Broward County.

The Board of County Commissioners authorized the Housing Finance and Community Redevelopment Division of Broward County to enter into Development Agreements with ten (10) Broward County nonprofit housing agencies, awarding four lots to each, for constructing forty new affordable single-family homes in the Broward Municipal Services District. The County’s Housing Finance and Community Redevelopment Division provided each nonprofit with $20,000 per lot in predevelopment assistance funds. In addition, qualified income-eligible homebuyers were provided down payment assistance funds up to $60,000 (as needed). Sales prices range from low-$190s to mid-$200s, depending on model and appraisal. Buyers were selected by lottery from eligible completed applications.

In response to the County Commission’s call for local municipal and other strategic partners to step up to expand such a program throughout the county, the City of West Park is proposing to develop a similar West Park In-Fill Lot/Affordable Housing Development Program within its city limits. The City will be designating five (5) lots to be allocated for the development of five single-family residences. Similar to the County’s program, the City of West Park’s proposed program will partner with local nonprofit housing organizations to develop and sell the homes – which will consist of attractive, energy efficient three bedroom/two bath and four bedroom/two bath homes, all with 2 car garages – to pre-approved low/moderate income families. These new dwellings will provide a triple bottom line benefit that: (1) enhance the single-family residential character of the respective neighborhoods in the city, (2) provide five low/moderate income families with wealth generating affordable homes (new homes with equity at move in) and (3) advance the County Commission’s mission to enhance the availability of affordable housing throughout the county.

SUMMARY OF REQUEST FOR SUPPORT

The City of West Park is proposing to invest five (5) lots to be conveyed to the nonprofit developer towards the development of affordable single-family homes for low/moderate income families. The City is hereby requesting that the Broward County Commission invest $100,000 to provide $20,000 per lot to the selected nonprofit developer to assist with development costs. The City is further requesting the assistance of the Housing Finance and Community Redevelopment Division to provide down payment purchase assistance of $40,000 to $60,000 to each eligible low/moderate income buyer. See details below.

PROPOSED CITY OF WEST PARK’S IN-FILL LOT/AFFORDABLE HOMES DEVELOPMENT PILOT PROGRAM

PROGRAM FEATURES:

AFFORDABLE HOUSING REQUIREMENTS.
In consideration of the conveyance of the Properties from the City, nonprofit developer(s) shall construct and develop on the Properties affordable, single-family homes in accordance with the following standards, which may be above the minimum standards required by applicable building and zoning codes:

1. Size. On each of the Properties, Nonprofit shall construct a single-family residence that is no smaller than 1,500 square feet, exclusive of the garage.

2. Two-Car Garage. In addition to the 1,500 square feet of living space, each Residence shall include a two-car garage.

3. Tile Roof. Each Residence shall include a tile roof if required by the applicable neighborhood-zoning district.

4. Down Payment Assistance. County will provide down payment purchase assistance of $40,000 to $60,000 based on the grant source for the assistance and income qualification of the purchaser, and subject to provision of adequate funding from federal and state sources.

5. Predevelopment Assistance. County will provide up to $20,000 per lot in predevelopment cost reimbursement for expenses associated with fill, offsite utilities, and tree removal and for the architect’s charges for the cost of the use of County-owned architectural plans.

6. Permitting and Construction Deadlines. Nonprofit shall complete the permitting process for the Residences within six (6) months after the dates of the Quitclaim Deeds (“Deeds”) transferring the Properties to Nonprofit (“Transfer Date”), and Nonprofit shall construct the Residences and have them ready for occupancy within twelve (12) additional months after the completion of permitting, for a maximum total of eighteen (18) months from the Transfer Date in which to complete the construction of the Residences.

7. Eligible Residents. The Residences shall be made available only to those families that are at or below one hundred forty percent (140%) of Area Median Income (“AMI”) for Broward County, adjusted for family size. For the purposes of this requirement, AMI is understood to mean the dollar amount where half of the population earns less and half earns more.

8. Homeowner Education. All new buyers are required to attend homeowner education class and meet current Housing Finance and Community Redevelopment Division underwriting criteria for the home purchase and loans.

---

Connect To Your Customers & Grow Your Business

Click Here

---