Subject:
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Florida Housing Finance Corporation 2026 Local Government Verification of Qualification as Urban Infill for Development for Grand Oaks II.
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Recommended Action:
Recommended Action
Approval of the Florida Housing Finance Corporation Local Government Verification of Qualification as Urban Infill Development form for the 2026 State Apartment Incentive Loan (SAIL) funding Housing Tax Credit Financing application.
• Grand Oaks II is phase four of the planned redevelopment of the public housing complex known as Rainbow Village, located at 12301 134th Avenue, Largo, that will provide 120 units of affordable family housing.
• The total development cost of the project is estimated to be $ 47,893,783.00.
• The project is being developed in partnership with Newstar Development and the Pinellas County Housing Authority.
• The SAIL funding Housing Tax Credit Financing application process is competitive and scoring for Urban Infill requires a set-aside for youth aging out of Foster Care.
• This item has no fiscal impact on Pinellas County. The Pinellas County Housing Authority (HFA) is a dependent special district of Pinellas County. Conduit financings pledge neither the HFA’s nor the County’s credit, and neither are responsible for payment of the debt except from funds received from the borrower (in this case the developer).
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Strategic Priorities:
Prosperity and Opportunity
3.1 Increase the availability of attainable housing.
Summary:
Approval and execution of the FHFC Local Government Verification of Qualification form will provide confirmation that the project development meets the requirements as an Urban Infill Development, which is applicable to the application.
Background/Explanation:
FHFC issued RFA 2026-205 for Affordable Housing Credit Financing. The application process is competitive. Applicants may request Local Government Verifications which demonstrate local government support. Grand Oaks II has requested the execution of the FHFC Local Government Verification of Qualification form. The FHFC application submittal deadline is September 22, 2026.
Fiscal Impact:
N/A
Delegated Authority:
Authority for the County Administrator to sign this local government verification is granted under Code Section 2-62 (a)(1).
Staff Member Responsible:
Gregg Mims, Director, Housing and Community Development
Bruce Bussey, Community Development Manager
Partners:
Newstar Development
Pinellas County Housing Authority
Florida Housing Finance Corporation
Attachments:
Florida Housing Finance Corporation Local Government Verification of Qualification as Urban Infill Development - Grand Oaks II