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Polk County OKs up to $1.5M in SHIP funding for Grove Manor Phase 2 in Lake Wales
Summary
The Board of County Commissioners approved a three-party SHIP loan not to exceed $1.5 million to support Grove Manor Phase 2, authorizing the county manager to execute closing and loan documents.
The Polk County Board of County Commissioners voted Sept. 16 to approve a three-party agreement obligating up to $1,500,000 in State Housing Initiatives Partnership (SHIP) funds for Grove Manor Phase 2, a proposed affordable rental apartment complex in Lake Wales.
The SHIP loan will be made under an agreement among Polk County, Neighborhood Lending Partners Group and the Smith and Hensy Affordable Group. Mr. Beasley, speaking for the manager's office, described the action as “a 1 time state investment not to exceed…
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