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FPRA approves 99-year ground lease and interlocal amendment to advance Avenue D affordable housing project
Summary
The FPRA unanimously approved Resolution 25-20, an amendment to an interlocal agreement and a ground lease with Pinnacle at Morris Creek LLC and St. Lucie County to enable development of the Avenue D model block as rental affordable housing. Staff said the lease is 99 years and will support a Low-Income Housing Tax Credit application.
The Fort Pierce Redevelopment Agency voted unanimously on Nov. 12 to approve Resolution 25-20, which amends the interlocal agreement with St. Lucie County and authorizes a ground lease between the county, the FPRA and Pinnacle at Morris Creek LLC to facilitate an affordable…
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