Pinellas to fund 20‑unit special‑needs housing project with HOME‑ARP and Florida Housing Finance support

Pinellas County commissioners approved Aug. 5 a funding recommendation for a 20‑unit special‑needs housing development to be supported in part with county HOME‑ARP federal funds. Bruce Bussey, community development manager, told commissioners the county received a special HOME‑ARP allocation of about $5.4 million and that HOME‑ARP rules for the county award require a 20‑year affordability period. "Those have special requirements in addition to low income and very low income that we serve clientele that are either homeless or at risk of homelessness," Bussey said. The county's subsidy to the project was described as approximately $68,000 per unit; a majority of project funds are coming from the Florida Housing Finance Corporation. Bussey said a nonprofit had contributed roughly $126,000 and the developer was taking a deferred fee of approximately $700,000 to be paid after construction and lease‑up. Nut graf: Staff framed the project as a specialized support opportunity for homeless or at‑risk disabled families and individuals; county HOME‑ARP funds are targeted and subject to additional federal requirements that the county said made projects like this a good match. Discussion vs. decision: Commissioners asked about the affordability term and the developer's financial contribution. Bussey explained the HOME requirement being described to the board was 20 years for the county HOME award but the Florida Housing Finance Corporation funding typically imposes a 50‑year restriction that will underlie the project. The board voted to approve the funding recommendation; staff said representatives of the developer were available for detailed questions. Ending: The board approved the funding recommendation and staff will proceed with the HOME‑ARP funding steps required for the development.