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CRA approves forgivable loan to SJC Cistrunk project, forgives YMCA loan; SJC adds five deeply affordable units
Summary
The Fort Lauderdale Community Redevelopment Agency approved a $6 million forgivable loan to SJC Cistrunk LLC and authorized forgiveness of a $10 million CRA loan to the YMCA. SJC’s developer added five units targeted at 20% AMI after commission discussion.
At its Feb. 18 meeting the Fort Lauderdale Community Redevelopment Agency board approved a $6 million forgivable loan to SJC Cistrunk LLC for a mixed‑use redevelopment at 801 NW Sixth Street and also approved final forgiveness of a $10 million forgivable loan to the YMCA of South Florida for its earlier redevelopment.
SJC Cistrunk loan: The loan-by CRA is structured as a forgivable development incentive under the CRA’s development incentive program. The developer, Sean Jones, told the…
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