HomeMy WebLinkAbout1999 10 11 Regular Item B
COMMISSION AGENDA
ITEM B
Consent
Informational
Public Hearing
Regular X
October 11 ~ 1999
Meeting
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Mgr. . / De t.
Authorizati -n -
REQUEST:
The Community Development Department and Wyman Fields Foundation request
the Commission establish October 14, 1999 at 11:00 a.m. as the date for the
official ground breaking ceremony for the Moss Road Redevelopment Project
PURPOSE:
The Commission is being asked to establish October 14, 1999 as the date for the
official ground breaking ceremony for the Moss Road Redevelopment Project.
APPLICABLE LAW AND PUBLIC POLICY:
The provisions of 420.9072(1)(a) F.S. which states in part: "In addition to the legislative findings
set forth in 420.6015 F.S., the Legislature finds that affordable housing is most effectively
provided by combining available public and private resources to conserve and improve existing
housing and provide new housing for very-low income persons, low-income persons, and
moderate income persons. The Legislature intends to encourage partnerships in order to secure
the benefits of cooperation by the public and private sectors and to reduce the cost of housing for
the target group by effectively combining all available resources and cost-saving measures. The
Legislature further intends that local governments achieve this combination of resources by
encouraging active partnerships between government, lenders, developers. and community
groups to produce affordable housing and pride related services."
CDD/September 30, 199912: 18 PM
OCTOBER 11, 1999
REGULAR AGENDA ITEM B
Page 2
CONSIDERATIONS:
· The City has identified a need for revitalizing certain targeted areas within the
City limits. The acquisition, rehabilitation, and conversation of apartments to
condominiums will upgrade the appearance and value of the neighborhood and
also provide housing for low income buyers.
· The total number of units to be rehabilitated is 158.
· The public-private partnership formed includes the City, Wyman Fields
Foundation, NationsBank, and the Seminole County S.H.J.P. Program.
· Wyman "Fields Foundation has extensive experience in these matters. A proposal
to the City for rehabilitating the apartment complex in and around Lori Ann Lane
was approved February 22, 1999.
· On April 26, 1999 the Commission received an update on the Moss Road
Redevelopment Project from Wyman Fields Foundation.
FUNDING:
City funding of $ 869,071 is proposed in the Bond issue recommended to the Commission to be
issued this year.
SCHEDULE:
February 1999:
July 1999:
October 14, 1999:
December 1999:
September 2000:
July 2001:
Approve Contracts
Complete Acquisitions of Units
Ground Breaking Ceremony
Complete Design and Construction Documents
Complete Rehabilitation of Units
Complete Sale of Units
STAFF RECOMMENDATION:
Staff recommends that the Commission establish October 14, 1999 as the official ground
breaking ceremony for the Moss Road Redevelopment Project.
CDD/September 30,199912:18 PM