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Lee County clears up to $50.5 million in Housing Finance Authority bonds for two Fort Myers affordable rental projects
Summary
The board approved two separate Housing Finance Authority bond issuances—up to $25.5 million for Residence 2 (140 units) and up to $25 million for Hawks Landing (204 units)—and the county noted these bonds do not constitute county debt.
The Lee County Board of County Commissioners voted on Tuesday to approve two advertised public hearings authorizing the issuance of multifamily mortgage revenue bonds by the Housing Finance Authority of Lee County to support affordable rental housing in Fort Myers.
The first hearing approved bonds not to exceed $25,500,000 to fund Residence 2, a 140‑unit affordable multifamily rental project in the city of Fort Myers. The board then approved a second hearing authorizing bonds not to exceed $25,000,000 for Hawks Landing, a 204‑unit affordable multifamily rental project, also in Fort Myers. County Attorney Amanda Swindle introduced both hearings and emphasized that the bonds are issued by the Housing Finance Authority and "do not constitute a debt or obligation of the county."
Both motions were moved and seconded on the record; no members of the public spoke on either item during the meeting and each motion carried with no recorded objection. The transcript does not include a roll‑call vote tally or identify the individual mover and seconder for the recorded motions.
Why it matters: These bond approvals enable the Housing Finance Authority to proceed with financing for two sizable affordable‑housing developments in Fort Myers that together could add 344 rental units targeted as multifamily affordable housing. The board recorded the approvals at the public hearings as advertised; the instruments are structured as Housing Finance Authority obligations rather than county general‑obligation debt.
Next steps: With the board's approvals at the public hearings, the Housing Finance Authority may proceed with bond issuance and project closing consistent with applicable regulations and the authority's processes. The meeting record does not include construction timelines, project sponsors, or additional financing details beyond the bond amounts and unit counts presented on the record.
