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Developers ask county to reassign HUD disaster-grant awards to nonprofit lender to protect low-income housing tax credits
Summary
Two developers told Sarasota County they must change the named subrecipient for previously awarded CDBG-DR housing grants, citing tax-law impacts on low-income housing tax credits. The board approved staff requests to allow the changes and a site swap for one award.
What happened: At the Feb. 25 meeting Sarasota County staff presented three requests from developers who had earlier received Resilient SRQ CDBG-DR awards from the county’s 2022 allocation. Lincoln Avenue Communities requested (a) to change the approved site for its Chamberlain Family Apartments project and (b) to have the county execute the grant agreement with Fairview Housing Limited — a national nonprofit — rather than with Lincoln Avenue directly. McDowell Housing Partners requested the same subrecipient change for its ECOS at Arbor Park 2 award.
Why: Developers said the awards were compatible with planned affordable…
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