Subject:
Title
First Amendment to the State Housing Initiatives Partnership Program Affordable Housing Development Program Agency Agreement with The ARC Tampa Bay, Inc. for Lakeview Group Home.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the First Amendment to the State Housing Initiatives Partnership (SHIP) Program Affordable Housing Development Program Agency Agreement with The ARC Tampa Bay, Inc (ARC). for Lakeview Group Home.
• This First Amendment reduces SHIP funding provided to ARC for renovations at the Lakeview Group Home, from $44,300.00 to $33,031.68, due to the project coming in under budget.
• The term of funding, a 30-year, no interest, no payment, forgivable loan and the 30-year affordability period remain unchanged.
• Lakeview Group Home is located at 1329 Lakeview Road, Clearwater, FL.
• On September 30, 2025, the County and ARC executed a Mortgage Modification Agreement and Loan Modification Agreement, reducing the amount of funding from $44,300.00 to $33,031.68.
• On November 8, 2024, ARC executed a Mortgage, Promissory Note, and Agency Agreement wherein the County provided $44,300.00 in SHIP funding in the form of a 30-year, no interest, no payment, forgivable loan.
• On November 20, 2024, ARC and the County executed a Land Use Restriction Agreement, restricting six (6) units to serving individuals with special needs and with incomes less than 50.0% of the Area Median Income (AMI), through November 30, 2054.
• Funding for this request is included in the current-year budget of the Housing and Community Development Department in the SHIP fund.
Body
Strategic Priorities:
Prosperity and Opportunity
3.1 Increase the availability of affordable housing
Summary:
This First Amendment will reduce the amount of SHIP funding provided to ARC for renovations at the Lakeview Group Home, located at 1329 Lakeview Road Clearwater, FL 33756.
As a result of the rehabilitation project coming in under budget, it is necessary to amend the Agency Agreement to reflect the actual SHIP funds expended on the project.
The First Amendment does not change the term of funding or the affordability period. The term of funding remains as a 30-year, no interest, no payment, forgivable loan. The 30-year affordability period remains, restricting six (6) units to serving individuals with special needs and with incomes less than 50.0% of AMI, through November 30, 2054.
Background/Explanation:
On November 8, 2024, ARC executed a Mortgage, Promissory Note, and Agency Agreement wherein the County provided $44,300.00 in SHIP funding in the form of a 30-year, no interest, no payment, forgivable loan.
On November 20, 2024, ARC and the County executed a Land Use Restriction Agreement, restricting six (6) units to serving individuals with special needs and with incomes less than 50.0% of the Area Median Income (AMI), through November 30, 2054.
On September 30, 2025, the County and ARC executed a Mortgage Modification Agreement and Loan Modification Agreement, reducing the amount of funding from $44,300.00 to $33,031.68.
Fiscal Impact:
N/A
Delegated Authority:
Authority for the County Administrator to sign these Agreements is granted under Resolution No. 21-22 and Section 2-62 of the County Code.
Staff Member Responsible:
Gregg Mims, Director, Housing and Community Development Department
Bruce Bussey, Community Development Manager, Housing and Community Development Department
Partners:
The ARC Tampa Bay, Inc.
Attachments:
First Amendment to the State Housing Initiatives Partnership Program Affordable Housing Development Program Agency Agreement
Mortgage Modification Agreement, September 30, 2025
Loan Modification Agreement, September 30, 2025
Agency Agreement, November 20, 2024
Land Use Restriction Agreement, November 20, 2024
Mortgage and Promissory Note, November 8, 2024
Resolution No. 21-22