Lake City Council workshop advances plan for city-led affordable housing program; staff to refine proposal

Lake City officials on Aug. 18 discussed a proposed city-led affordable housing initiative that would create a municipal housing program, pursue bond financing and offer a mix of projects including senior apartments, below-market loans, rehabilitation of abandoned homes and optional container housing.

The proposal, presented by financial consultant Nick Narducci and supported by City Manager Don Rosenthal and housing-authority attorney Rick Gilmore, aims to move city-owned or vacant properties back into private ownership over time while using public tools — advertising and realtor outreach, local-lender partnerships and bond financing — to lower development costs and support first-time buyers.

Why it matters: City leaders said affordable housing is a top local priority and described the proposal as a multi-step effort to expand housing options for seniors, veterans and first-time buyers while involving local banks and builders. Council members voiced support for further study but raised questions about the financial risk, procurement rules and whether the government should act as developer.

Rosenthal introduced the plan and identified the team working on it, saying the presentation would be refined and returned for…