Subject:
Title
Ranking of firms and agreement with Pinellas Affordable Living, Inc. for the development of affordable housing located at 3901 46th Avenue North in the Lealman Community Redevelopment Area. (Companion to Item No. 14)
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Recommended Action:
Recommended Action
Approval of the ranking of the firms and agreement with Pinellas Affordable Living, Inc. (PAL), as the number one ranked firm, for the development of affordable housing located at 3901 46th Avenue North in the Lealman Community Redevelopment Area.
• PAL was selected as the number one ranked firm through a competitive request for negotiation process to develop affordable housing on the County owned property located at 3901 46th Avenue North.
• PAL proposes to develop a 17-unit multi-family complex of one-, two- and three- bedroom apartments for households with special needs and incomes below 60% of Area Median Income.
• Through companion item 23-1751A, the parcel #03-31-16-51012-025-0030 will be conveyed to the Housing Finance Authority of Pinellas County (HFA) from the County. Upon transfer of the subject property, the HFA will lease the property to PAL for affordable housing development.
• The total development timeline estimate is 34 months.
• PAL anticipates a total project cost of $5,865,600.00, equaling $345,000.00 per unit and plans to apply to Florida Housing Finance Corporation for development and construction funding in March 2024. If successful, an application for County gap financing will be submitted for approximately $1M.
• No County General Funds are required. The HFA is a dependent special district of the County.
Contract No. 22-0640-RN; there is no cost to the County; estimated annual revenue is $0.
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Strategic Plan:
Ensure Public Health, Safety, and Welfare
2.4 Support programs that seek to prevent and remedy the causes of homelessness and move individuals and families from homelessness to permanent housing.
Foster Continual Economic Growth and Vitality
4.2 Invest in communities that need the most
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
5.2 Be responsible stewards of the public’s resource
Summary:
Summary
Approval of this item and the companion item will transfer surplus property to the HFA for development of permanently affordable housing. The HFA will retain ownership of the land and provide a long-term ground lease to PAL. PAL will develop 17 single-family units for rent to income eligible households earning 60% or less of the AMI.
PAL is a Community Housing Development Organization established by Boley in 1993 that has developed 160 units of multi-family affordable housing in Pinellas County using federal, state, and local funding.
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Background Information:
The Purchasing and Risk Management Division released a request for negotiation for this project on June 14, 2022. Ranking of firms was determined by an evaluation committee on September 9, 2022.
The property was acquired by the HFA in 2019 with Penny for Pinellas affordable housing funding in the amount of $737,524.50. The site was formerly Wood Acres mobile home park. The HFA transferred the property to the County after the planned project, Oasis Acres, was unable to proceed.
Fiscal Impact:
N/A
Staff Member Responsible:
Carol Stricklin, Director, Housing and Community Development Department
Merry Celeste, Division Director, Purchasing & Risk, Administrative Services
Joe Lauro, Director, Administrative Services
Partners:
Housing Finance Authority of Pinellas County
Attachments:
Final Ranking