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Council opts to spread SHIP funds across multiple rehabs rather than fully fund one difficult Montclair property
Summary
Facing a proposed rehabilitation of a heavily damaged home at 1001 Montclair Road that could exceed the house's value, council voted to use available SHIP funds to complete repairs on four to five homes on the program list instead of funding the single Montclair property.
The Cocoa City Council directed staff to use the city's available SHIP (State Housing Initiatives Partnership) funds to complete rehabilitation on a minimum of four to five homes from the rehabilitation list rather than use the allocation to fully rehabilitate a single, high-cost property on Montclair Road.
Staff and the city's housing coordinator described the Montclair property as effectively a build-from-foundation situation, with three bids received and the highest at around $222,000. Staff warned that once contractors began work and removed interior finishes, unknown conditions (mold, structural damage, hazardous materials) could increase the cost toward $300,000. The house also carries an existing mortgage, complicating options.
Options presented to council included: 1) use SHIP funds to complete multiple traditional rehab projects; 2) combine SHIP funds with general/affordable-housing set-aside dollars to attempt the Montclair rehab while still addressing other homes; or 3) spend SHIP funds on the Montclair address only and defer other rehabs until additional SHIP allocations arrive. Council chose option 1.
Why it matters: SHIP funds are limited; choosing to spread the allocation across multiple homes preserves assistance to more households rather than concentrating resources on a single property with a high risk of cost overruns.
Council also noted staff outreach to nonprofit partners and lenders to seek solutions for high-cost or mortgage-encumbered properties. Staff said they had contacted Habitat and other organizations to explore additional help for the Montclair household.
Ending: Council's decision favors broad distribution of available SHIP funds and asks staff to continue outreach to community partners and lenders for complex cases; staff will proceed with the list of rehab recipients selected for immediate work.
