The Lee Board of County Commissioners voted to commit to a $500,000 dollar loan to support an application for a North Fort Myers affordable housing project Tuesday.
Autumn Palm Lee, the company selected by the county for the project, is applying for funding through the Florida Housing Finance Corporation. The loan, which is from the Affordable Housing Trust Fund, will only be used if this application is accepted.
Mikki Rozdolski, the director for Lee County Community Development, explains how the county committing to the loan would help with getting the additional funding.
“This commitment demonstrates local support of the project, which gives it preference in the Florida Housing Finance Corporation’s competitive application process,” Rozdolski said.
If chosen, 78 multi-family units will be built on Bayshore Road, beginning in the fall of 2025. The housing would only be available for rental by those making at or below 60% of the area’s median income.
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