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Commission approves $1.5 million SHIP loan for Grove Manor Phase 2 in Lake Wales
Summary
Polk County authorized up to $1,500,000 in state SHIP funds for Grove Manor Phase 2 in Lake Wales and authorized the county manager to execute loan and closing documents; developer representatives thanked the board and described plans for up to 300 units across four phases.
The Polk County Board of County Commissioners on Sept. 16 authorized a three‑party agreement using state SHIP funds not to exceed $1,500,000 to support Grove Manor Phase 2 in Lake Wales. County staff said the Neighborhood Lending Partnership Group will administer underwriting and loan services and the county manager was authorized to execute closing, funding and loan administration documents on behalf of Polk County.
Rick Krogan, a representative of Smith and Hensy Affordable Group, thanked the board for prior support and described the project’s scale: "We look forward to moving forward with Grove Manor, completing it in 4 phases and putting, you know, up to, 300 units of affordable housing on that piece of property." County staff noted the county previously contributed $2,300,000 to a related Grove Manor project in Winter Haven. The board approved the funding commitment by motion and voice vote.
