Polk County Board of Commissioners Approves Funding for Florence Place Apartments
Published on Jan 3, 2023
(Bartow, Fla. Jan. 3, 2023) — The Polk County Board of County Commissioners approved a tri-party agreement for HOME-ARP (American Rescue Plan) loan funding for Florence Place Apartments at today’s board meeting. The agreement is between Polk County, Blue Sky Communities (Florence Place developer) and Neighborhood Lending Partners, which underwrites loans on behalf of county governments that do not have the internal capacity or expertise to underwrite loans internally.
Polk County is contributing $2 million for 11 affordable housing units at the Blue Sky Communities apartment complex in Winter Haven.
The Florence Place development will cost about $27million and it will consist of 88 units for low-income families. The county-funded units will help Polk County residents who are at 60% or less of the area’s median income. Additionally, resident programs such as adult literacy training, employment assistance and financial management will be offered.
“Polk County is the fastest growing county in Florida,” said Jennifer Cooper, Polk County’s Housing & Neighborhood Development Manager. “Affordable housing like this is sometimes the difference between homelessness and a family having a place to call home.”
Construction is slated to begin this month the anticipated move in date is February 2024.