Subject:
Title
Agency Agreement with Habitat for Humanity of Pinellas County, Inc for Lealman Heights Townhomes.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of an Agency Agreement with Habitat for Humanity of Pinellas County, Inc for an affordable ownership housing development known as Lealman Heights Townhomes.
• Lealman Heights Townhomes is a new construction homeownership project of approximately (26) workforce housing townhome units. A minimum of 50.0% of the units will be restricted to households earning 80.0% of Area Median Income (AMI), and all other units restricted to 120.0% AMI.
• The project is located at 4000 58th Avenue North in Lealman, and the land is in the County Land Trust ensuring permanent affordability of the project.
• The project was approved by the Board of County Commissioners (Board) on February 25, 2025 (Granicus Item #24-0729-RFN), as the top ranked proposal in response to the RFN, and for up to $1.8M of Penny IV funding for the construction of the affordable housing project.
• The total development cost is estimated to be $10,133,300.00. Habitat for Humanity of Pinellas County, Inc will provide ($7,403,300.00) and Lealman Community Redevelopment Agency (CRA) will provide ($930,000.00).
• Funding for this project is included in the Fiscal Year (FY) 2026-2031 Capital Improvement Program plan under the Penny IV Affordable Housing Program (project 004150A). This project is funded by Local Infrastructure Sales Surtax (Penny for Pinellas), as part of the 8.3% countywide investment in Economic Development and Housing, half of which, or 4.15%, is set aside for housing specifically.
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Strategic Priorities:
Prosperity and Opportunity
3.1 Increase the availability of attainable housing
Summary:
Approval and execution of the Agency Agreement with Habitat for Humanity of Pinellas County, Inc. will provide funding for the Lealman Heights Townhomes, a new construction project that will provide approximately twenty-six (26) units of workforce housing, ensuring permanent affordability to households under 120.0% AMI; of which, at least 50.0% of the units are set-aside for 80.0% AMI or below, and all other units are for 120.0% AMI or below. The project is located at 4000 58th Avenue North in Lealman and was approved as a successful response to 24-0729-RFN.
Background/Explanation:
On February 25, 2025, via Granicus item #25-0045A, the Board approved funding for the Lealman Heights Townhomes project. The County will use Penny IV Program funds to provide $1.8M in support for construction cost reimbursement. The land associated with this project is in the County Land Trust and will impose a 99-year affordability period, with an additional 99-year renewal, for all assisted units.
Fiscal Impact:
Including this item, the total amount of Penny IV affordable housing funds committed is $91,971,246.00 out of the $99,830,852.00 currently estimated in all ten years of Penny IV.
Funding for this project is included in the FY26-FY31 Capital Improvement Program plan under the Penny IV Affordable Housing Program (project 004150A). This project is funded by Local Infrastructure Sales Surtax (Penny for Pinellas), as part of the 8.3% countywide investment in Economic Development and Housing, half of which, or 4.15%, is set aside for housing specifically.
The Penny IV Affordable Housing Program (project 004150A) has an FY26 Adopted Budget of $13,271,000.00. Additional funding in the amount of $18,107,000.00 is included in the Carry-forward Amendment, contingent on approval by the Board of County Commissioners. There is sufficient funding to approve this recommendation.
Delegated Authority:
Authority for the County Administrator to sign the Agency Agreement is granted by Board action on February 25, 2025, agenda item #25-0045A.
Staff Member Responsible:
Gregg Mims, Director, Housing and Community Development
Bruce Bussey, Community Development Manager, Housing and Community Development
Partners:
Housing Finance Authority of Pinellas County
Habitat for Humanity of Pinellas County, Inc
Lealman CRA
Attachments:
Lealman Heights Townhome Agency Agreement