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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 affordable for at least 20 years. City staff said 40 of the 48 units funded by this allocation will target households at or below 30 percent of area median income.
Housing division staff explained the award comes from the city’s HOME‑ARP allocation created under the American Rescue Plan Act; the city received $1,401,459 in HOME‑ARP funds and previously awarded $685,000 to Griffin Lofts. Gospel Inc. plans three two‑story buildings for the second phase; the approved funding covers two of those buildings (48 units) in this phase and will bring Gospel Village’s total units to 72 when completed.
Ray Stedman, executive director of Gospel Inc., thanked the commission and said the organization’s goal is to address chronic homelessness by expanding permanent supportive housing on the site. “Our goal is to address chronic homelessness. With your support, we’ll be able to be very effective in that role,” Stedman said.
Action: Commission approved the HOME‑ARP loan agreement to Gospel Inc., $685,000, deferred loan, outcome unanimous.
City staff said the loan will be structured to meet federal HOME‑ARP conditions and construction requirements; staff will return with contractual documents for the city’s records and monitor compliance with affordability covenants.
