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Commission approves $685,000 HOME‑ARP deferred loan for Gospel Inc. to expand Gospel Village supportive housing
Summary
The commission approved a $685,000 deferred HOME‑ARP loan to Gospel Inc. to build the first two buildings of a multi‑phase expansion that will add 48 units (part of a planned 72) of supportive housing for people experiencing chronic homelessness; loan forgiveness is conditioned on 20 years of affordability.
The Lakeland City Commission unanimously approved a $685,000 deferred loan from the city’s HOME‑ARP allocation to Gospel Inc., funding the first phase of an expansion at Gospel Village that will add 48 one‑bedroom units for people experiencing chronic homelessness.
Under the agreement the loan will be subordinate to the project’s primary construction financing and will be forgiven if Gospel Inc. maintains the units as…
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