Lee Board of County Commissioners voted April 2 to launch Affordable Housing Development New Construction Programs with the publication of the Notice of Funding Availability for up to $200 million from Community Development Block Grant – Disaster Recovery funds.
Lee County’s CDBG-DR Action Plan includes Affordable Housing and Development Programs that provide grant funding for developing and preserving affordable housing units.
The competitive Notice of Funding Availability process will make up to $150 million available for new construction or acquisition and rehabilitation of new multifamily units and up to $50 million available for new construction of single-family units. The minimum funding award for new construction development is $4 million, and the maximum is $20 million. Eligible applicants for these NOFAs are private nonprofit or for-profit housing developers, units of local government and public housing authorities. Applications for Affordable Housing Development must be submitted in Lee County’s online portal by June 26.
These funds are part of the $1.1 billion in CDBG-DR funds allocated to Lee County by the U.S. Department of Housing and Urban Development in the wake of Hurricane Ian, which made landfall in Lee County on Sept. 28, 2022.
Under this funding, 51% or more of new multifamily housing units must be occupied by income-eligible households, and 100% of all newly constructed single-family housing units must be sold to income-eligible households.
Multifamily development has a per unit subsidy cap of $250,000 and requires a 30-year affordability and restrictive use period. Single-family development has a per unit subsidy cap of $300,000 and requires a 20-year affordability period.
Additional funding for the development of new units may be awarded to future projects, released through another NOFA at a later date or reallocated to address other urgent needs.
The application portal for the LeeCares Hurricane Ian Housing Recovery Program for individuals remains open. The two programs for which individuals can apply are:
- The Housing Rehabilitation, Reconstruction and Elevation program may assist income-eligible property owners to repair, replace and/or elevate property that suffered hurricane damage.
- The Home Purchase Assistance may assist income-eligible home buyers to purchase a qualifying primary residence outside of the flood zone in Lee County.
