Form 1125-E for Pompano Beach Florida 2016-2024

Form 1125-E for Pompano Beach Florida: What You Should Know

In recent years there has been a growth of low-income families and families of color, particularly families of color living in greater South Florida and who are at increased risk of displacement. The report proposes two possible solutions: (1) a development plan to address current affordable housing needs in a way that meets existing and future needs in these communities; or (2) the construction of one or more affordable housing projects. Both actions have their own risks and opportunities. Pompano Beach, FL — Affordable Housing Overview Affordable Housing Analysis The analysis will identify the needs associated with all low- to moderate-income families and individuals, including low-income seniors, homeless adults, individuals with disability, elderly residents and renters with incomes below 35% of area median income. The analysis will also identify the available affordable options for low- to moderate-income and homeless individuals in the area and in Pompano Beach. The analysis of the available affordable options for each group, particularly the costs of renting and selling the housing, will provide insight into the cost-sharing options and the potential financial benefits of each alternative. The analysis will analyze: • The amount of affordable units and the availability of the units; • the quality, quantity and type of services provided by and to the individuals and families; • what the financing and land use options and their costs are for each family and individual; • what the community wants the project to create and how it will be funded; • the cost, location, and timeline of construction; • the overall cost and any funding streams that may be available for the project; • the impact, costs, and impacts of the project; and • any other costs and benefits associated with the project, including any impacts to the community or those with low- to moderate-income and/or homeless families and individuals. 1.4.1.1.1.1.1 Affordability of Project: The projected affordability of the project will be determined using projections from The State of Florida Home Enabling Program (HEP).

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