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CRA moves to sell five‑unit Converse Street property; aims to preserve affordability
Summary
The CRA signaled consensus to pursue sale of the five‑unit property at 2538–2546 Converse Street while exploring sale terms or buyers (housing authority/nonprofit) that could maintain affordable units; staff and counsel will structure the public notice to allow affordable‑housing outcomes under Section 163.380.
Commissioners at the Fort Myers CRA workshop agreed to pursue selling the five‑unit property at 2538–2546 Converse Street while seeking a buyer that could sustain affordability where possible.
Executive Director Michelle reported the units are currently rented at about 60–80% of area median income (AMI) and confirmed the property generates roughly $2,028,700 in income against nearly $60,000 in expenditures for the period described in the packet (the period was identified as roughly March 13 through Feb 10). A commissioner noted the property includes five units, making standalone management costly; another commissioner said selling to the housing authority or a nonprofit with property‑management capacity could help keep the units affordable.
Outside counsel Clifford Shepherd explained legal options under Section 163.380 to craft the required public notice (minimum 30 days) and said a sufficiently detailed notice can lawfully favor affordable‑housing projects or specific development concepts without signing a pre‑contract. “You can craft a notice that’s so specific that really at the end of the day only one party responds and that’s completely legal in CRA world,” Shepherd said. Commissioners asked staff to work with counsel to prepare advertisement language and return with options for how to balance market value and affordability.
