A 252-unit affordable workforce-housing project planned for Golden Gate Golf Course is moving closer to fall construction after Collier County commissioners approved $10 million in funding.

The Board of County Commissioners unanimously voted Aug. 13 to provide Rural Neighborhoods’ Renaissance Hall at Old Course with more than $8.9 million for pre-development and construction costs and slightly more than $1.13 million to support impact fees.

The funding includes a $100,000 increase, Deputy County Manager Ed Finn told commissioners, adding, “The other proposed user of these fees was unable to use them, freeing up $100,000 and this is in a use-it-or-lose-it-type situation.”

The funds come from the Consolidated Appropriations Act of 2021, known as the American Rescue Plan, which included a $900 billion in relief funds for state and local governments. Collier County received $74.76 million from the $350 billion State and Local Fiscal Recovery Fund.

“This is really an implementation of two awards that were previously awarded and have been in the budget for this pro forma for many, many months,” Rural Neighborhoods President Steve Kirk told commissioners. “This is really just to get us to be able to move forward with the grant agreements.”

The county purchased the 165-acre golf course, at Collier Boulevard and Golden Gate Parkway,  for $29.1 million in 2019 to prevent overdevelopment and to maintain an affordable public golf course. In June 2020, Rural Neighborhoods was selected as the developer but the project hit delays due to COVID, hurricanes and other issues. Under a 99-year county contract, Rural Neighborhoods will lease about 22 acres for $10 yearly and will build and manage the development, nine buildings and a clubhouse.

Naples-based DeAngelis Diamond is the builder. Construction on the first phase will take two years months and will provide 252 rental apartments for essential services workers—government and university employees, fire and police personnel, healthcare workers, teachers and construction workers. Rent will be 80-120% of the Area Median Income, $104,300.

Rents are expected to range from $872 for a one-bedroom apartment, 1,039 for two bedrooms and $1,194 for a three-bedroom unit. Rents for 120% AMI will range from $1,951 for a one-bedroom unit to $2,414 for three bedrooms.

A second phase will offer 120 rentals for low-income seniors and veterans.

Under the income-sharing partnership agreement, 50% of profits will go to the developer, while the rest will be evenly split between the county and the Collier Community Foundation. By the 40th year, Renaissance Hall will have received $110.8 million and the county and Community Foundation will each receive $55 million, according to estimates by the County Clerk’s Office, which determined excess profits for years 41-50 are projected at more than $147 million.

Rural Neighborhoods has financial commitments for Phase 1 from various sources, with $2 million from the U.S. HUD Community Project Grant; $1.5 million from the State Housing Initiatives Partnership, or SHIP; $10 million from the Collier Community Foundation, Richard M. Schulze Family Foundation and Moorings Park Foundation; and $18.43 million from the county, including impact-fee waivers and land.

Rural Neighborhoods obtained a $57 million first mortgage loan from Prudential. In June, the U.S. Department of Housing and Urban Development signed off on the required loan guarantee.

Separate plans for the rest of the property include a 120-bed State Veterans Nursing Home and Adult Health Day Care Center, a redesigned public-private golf course and entertainment center by an Arthrex affiliate and the nonprofit First Tee youth-golfing program.