Subject:
Title
Interlocal Agreement with the Housing Finance Authority of Pinellas County, Florida to define services provided for the implementation of County affordable housing programs.
label
Recommended Action:
Recommended Action
Approval of the of the Interlocal Agreement with the Housing Finance Authority of Pinellas County, Florida (HFA) to define services provided for the implementation of County affordable housing programs.
• This Interlocal Agreement with the HFA replaces the existing Interlocal Agreement executed on May 19, 2015.
• This Agreement extends and updates the terms and incorporates the County’s new Penny IV Affordable Housing funding for the Land Assembly Program.
• The amount of fees and expenses for Land Assembly program projects will be determined on a per-property basis by mutual written agreement of the parties as approved by the HCD Director up to $75,000.00. Land lease payments collected by the HFA will be used to fund ongoing operation of the program including an operational reserve in the amount of $15,000.00.
• This Agreement also defines the services provided by the HFA for the Community Housing Trust Fund and Neighborhood Stabilization affordable housing programs.
• The HFA is a separate public body, corporate and politic established to alleviate the shortage of affordable housing and capital for investment in the County.
• The Agreement becomes effective upon filing with the Pinellas County Clerk of Court and remains in full force and effect until terminated by either party. It shall be reviewed every ten years for updates and amendments as needed.
Body
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 resources
Summary:
This Interlocal Agreement replaces their existing Interlocal Agreement, executed on May 19, 2015, extends and updates terms, incorporates the County’s new Penny IV Affordable Housing funding.
This Agreement also defines the services provided by the HFA for implementation of the following County affordable housing programs: (A) Community Housing Trust Fund, (B) Affordable Housing Land Assembly Program and (C) Neighborhood Stabilization Programs.
Background Information:
On October 18, 2005, the Board adopted Resolution No. 05-237 to provide, preserve, and promote affordable community housing throughout Pinellas County.
On March 14, 2006, Ordinance 06-28 was adopted by the Board, establishing a housing trust fund and implementing the Community Housing Trust Fund Program.
On April 12, 2006, the Interlocal Agreement provided for Community Housing Program implementation and administration services by the HFA of Pinellas County. Services included a Community Land Trust Program allowing for utilization of County-owned surplus property for housing development.
On January 25, 2007 the Interlocal Agreement was executed to implement the Community Housing Program directives of the County to insure the preservation and production of affordable housing including identifying and utilizing County-owned real property designated as surplus for community housing purposes and further administering a community housing trust fund. The terms of the Agreement expired on September 30, 2008 and automatically renewed on October 1 of each year for subsequent one (1) year periods, unless the either party notified the other in writing.
The First Amendment and Supplement to the Interlocal Agreement was executed on June 3, 2008 by the Chair of the Housing Finance Authority of Pinellas County, Florida to authorize the establishment of separate Land Trusts to be the holders of the property dedicated to the Land Trust and to provide for financing of a portion of the capital costs of affordable housing projects through the issuance of housing revenue bonds.
Fiscal Impact:
Fees associated with the affordable housing land acquisition projects will be charged to Penny for Pinellas Local Infrastructure Sales Surtax funds budgeted for affordable housing. Capital improvement funding will be directly provided by the County. The estimated annual fiscal impact to the County will be a $135,000.00, is included in the FY21 Adopted Budget, and is consistent with prior years.
Staff Member Responsible:
Carol Stricklin, Director, Housing and Community Development
Partners:
Housing Finance Authority of Pinellas County
Attachments:
Interlocal Agreement 2021
Interlocal Agreement, May 19, 2015
First Amendment and Supplement to Interlocal Agreement, June 3, 2008
Interlocal Agreement, January 25, 2007
Interlocal Agreement, April 12, 2006
Rules of the Authority - Ch 5 HTF Rules, Rev September 2009
Resolution No. 19-99 - Penny IV
Resolution No. 15-41- Land Assembly Fund
Resolution No. 05-237
Ordinance No. 06-28 - Housing Trust Fund
Ordinance No. 09-44 - Housing Trust Fund