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Board approves $340,000 SHIP loan for Palms at Spring Hill after tax‑abatement condition
Summary
After extended questioning about costs, AMI targets and local tax impacts, the board approved a $340,000 SHIP loan for a proposed 96‑unit affordable housing project (Palms at Spring Hill). The developer agreed not to pursue a Live Local property‑tax abatement as a condition of county support.
The board on Aug. 12 approved a county contribution to support the Palms at Spring Hill, a proposed 96‑unit affordable housing development that the county’s Housing and Supportive Services director described as including supportive units for extremely low‑income residents and a larger share of units targeted to 30%–80% of area median income.
Commissioners pressed developers on per‑unit cost, affordability levels and the project’s impact on local tax revenue. Commissioner Champion pressed on costs, saying the per‑unit total “doesn’t make any sense” given local housing prices. Developer representatives and staff explained the project’s financing mix (including federal tax credits and deferred developer fees) and noted the county’s contribution would be a loan from SHIP funds to be repaid if the project is successful. To address commissioners’ concerns about immediate local tax impacts, the applicants agreed not to apply for the Live Local property‑tax abatement; staff confirmed the county’s $340,000 would be structured as a loan. The board voted to approve the funding and related conditions, motion carried 5‑0.
