The Palm Beach County Board of County Commissioners (BCC), through the Department of Housing & Economic Development (HED) hereby announces the availability of $2,500,000 in County funds under the Infrastructure Sales Tax (IST) Program. This funding is being offered to provide gap financing to Public Housing Authorities (PHA) operating within Palm Beach County, for projects related to affordable housing units or residential facilities serving households with income no greater than 80% of Area Median Income (AMI).
The funding application is now available. See below for the link to the application.
Funding applications will be accepted starting September 7, 2022 at 9:00 a.m. Applications will not be accepted after 4:00 pm on September 21, 2022. Completed applications are to be submitted to HED, 100 Australian Avenue, Suite 500, West Palm Beach, FL. Applicants will be funded on a first-come/first-eligible/first-funded basis.
AVAILABLE FUNDING: This NOFA makes available up to $2,500,000 of County funds under the Infrastructure Sales Tax (IST) Program. The funding will be in the form of a forgivable loan that carries no interest and requires no payment of debt service.
ELIGIBLE PROJECTS: Eligible projects are limited to: a) new construction including conversion of non-residential property to residential eligible uses; b) acquisition and rehabilitation of housing units; c) projects that demonstrate a direct benefit to affordable housing units owned or units to be created (i.e. infrastructure, de-mucking, etc.); or d) improvements to existing housing and/or facilities. All projects must be completed and in service within two (2) years of the funding award.
ELIGIBLE APPLICANTS: Eligible applicants for funding through this NOFA are Public Housing Authorities (PHAs) operating within Palm Beach County. The PHA must be the owner of the project through the term of the loan and the affordability period.
PROJECT LOCATION: The IST is a countywide program. Projects can be located within any municipality or unincorporated area of Palm Beach County.
OCCUPANCY AND AFFORDABILITY REQUIREMENTS: The affordability period for all housing units and residential facilities shall be in perpetuity. Units assisted with Infrastructure Sales Tax (IST) funds must be occupied by individuals or households whose incomes do not exceed eighty percent (80%) of the Area Median Income (AMI). Beneficiaries may include but are not limited to homeless, formerly homeless, and special needs populations including but not limited to disabled persons, veterans, seniors, victims of domestic abuse and youth aging out of the foster care system. Owner's tenant selection process may be required to give preference to prospective tenants/clients referred through the Palm Beach County Community Services Department Coordinated Entry System and/or households seeking family reunification under the auspices of the courts or Department of Children and Families.
During the affordability period, rents and/or fees charged to tenant households/residents shall not exceed thirty percent (30%) of the tenant's household income. Rent limits will be adjusted annually by the County.
LEVERAGING: There is no limitation on the amount of IST funding that may be requested; however, all projects must demonstrate a minimum leveraging ratio of 1:1 County funds to other non-county development funding sources. Applicants must document commitments from all other sources of development funding, as well as from sources of any necessary operating subsidy.
IMPORTANT DEADLINES: The following deadlines will be strictly adhered to:
Funded projects must be completed within two (2) years from the date of the funding award.
- Applications will be accepted starting Wednesday, September 7, 2022 at 9:00 am.
- Applications will not be accepted after Wednesday, September 21, 2022 at 4:00pm.
Este aviso y los documentos a los que se hace referencia en este documento están disponibles en español y hay servicios de traducción disponibles. Comuníquese con HED al (561) 233-3600.
Avi sa a ak dokiman referansye yo disponib nan lang panyòl, ak sèvis tradiksyon ki disponib. Kontakte HED nan (561) 233-3600.
IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT (ADA), THIS AD AND DOCUMENTS LISTED ABOVE MAY BE REQUESTED IN AN ALTERNATE FORMAT. PLEASE CONTACT HED AT (561) 233-3600.