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Special Meeting/Workshop - No Division Assigned

Title: School District as the Public Partner with MerryPlace Development LLC for the CWHIP Grant Applicatio

Recommendation:

I recommend the School Board approve the public / private partnership between the School Board of Palm Beach County and MerryPlace Development LLC on the CWHIP grant application to Florida Housing Finance Corporation and authorize the Chairman and the Superintendent to sign all necessary documents.

Description:

  • The 2006 Legislature approved House Bill 1363 includes $50 million for an affordable housing pilot program called Community Workforce Housing Innovation Pilot Program (CWHIP).

 

  • The $50 million will be distributed amongst 10 projects with a maximum of $5 million per project in high cost and high growth areas of the State.

 

  • Four developers approached School District staff requesting that the School District be their public partner on the application for CWHIP funds. 

 

  • The School District staff sought assistance from the Housing Leadership Council (HLC) of the Palm Beach Economic Council to evaluate the four proposals.  The HLC evaluated the projects against established criteria, however did not recommend a specific project.

 

  • The developers presented their projects to School District staff on November 17, 2006.  The four developers are: Agile, MerryPlace Development LLC / West Palm Beach Housing Authority, Housing Trust Group and Winkler.

 

  • After careful review by school district of the four developments and the potential benefits to school district employees, staff is recommending that the District partner with MerryPlace Development LLC / West Palm Beach Housing Authority on the CWHIP application.

 

  • The development at MerryPlace consist of 128 rental apartments, 46 town homes, 52 condominiums and 18 new single family homes on 14 acres in the City of West Palm Beach. The project is scheduled for thorough completion by December 2008 with the first units being available in December 2007. The City of West Palm Beach has contributed $8.9 million towards infrastructure for this project.

 

  • Staff’s recommendation is that $502,500 be set aside for down payment assistance for homeownership units for eligible teachers at Title I schools, with funding coming from Title II funds,  if MerryPlace is successful in receiving the CWHIP grant.

 

  • If MerryPlace Development LLC is successful in obtaining the $5 million grant from the Florida Housing Finance Corporation, then a Cooperative Agreement between MerryPlace Development LLC and the School Board specifying the terms of the partnership will be presented to the School Board for approval.  The School Board will also have to approve employee application requirements, eligibility criteria and any limitations prior to any funds being distributed.

 

  • The deadline for submitting the grant application is December 15, 2006.

 

Financial Impact:
$502,500 toward down payment assistance for eligible teachers at Title I schools with the funding coming from Title II funds.

For Additional Information, contact:
moorej@palmbeach.k12.fl.us; sanchesj@palmbeach.k12.fl.us

Attachments (list):
CWHIP3.pdf

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