Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Policy topic
No spam. Unsubscribe anytime.
Council adopts multifamily impact‑fee deferral program aimed at workforce housing
Summary
Ordinance 17‑25 creates a multifamily impact‑fee deferral program limited to workforce housing projects with minimum unit counts, set‑aside requirements and secured liens; council approved the ordinance unanimously.
The Cape Coral City Council on May 7 adopted Ordinance 17‑25 to create a multifamily impact‑fee deferral program intended to support workforce housing projects.
City planning manager Amy Yersley said the program stems from the 2023 local housing incentive plan and mirrors a single‑family deferral program enacted in 2024. Key provisions include a 10‑year maximum deferral, program eligibility limited to workforce housing financed by local, state or federal sources or under the Live Local Act, and a minimum development size of 48 units. Projects must commit a minimum 40% of units to the program’s affordable/workforce set‑aside.
Yersley said the program includes a program ceiling of 250 units per year and that deferrals will be secured by a lien and a formal deferral agreement outlining repayment obligations. Rents under the program will be capped according to Florida Housing Finance Corporation rental limits, she added.
After no public speakers at the hearing, the council voted to approve the ordinance by roll call; the motion passed 8‑0.
City staff said developers will be required to satisfy the application and eligibility requirements in the ordinance and that staff will monitor compliance under the deferral agreement terms.
