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Business Observer Wednesday, Jun. 22, 2022 1 month ago

Lee County allocates $7.5M in federal funds for affordable housing

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The money is from the American Rescue Plan Act.

Lee County commissioners have approved allocating $7.5 million in federal COVID-19 funds for a pair of affordable housing developments.

The funds come from federal American Rescue Plan Act Recovery & Resilience program, according to a statement. Lee County was provided $149 million in funding to support the local response and recovery from the pandemic. Funds are being allocated for infrastructure, public health, negative economic impacts, revenue replacement and more, the release adds.

The allocations include:

  • $5 million for the Southwest Florida Affordable Housing Choice Foundation Inc. for preservation and reconstruction of 375 units in the Southward Village, a public housing complex off Edison Avenue. The complex now has 195 units of public housing. Those units will be reconstructed and 185 units will be added in the same complex, the release states. Units will be rented to households with income at or below 140% of the area median income.  
  • $2.5 million to Habitat for Humanity of Lee and Hendry County Inc., for infrastructure development in a planned subdivision of 36 single-family homes. Units will be sold to households with income at or below 80% of the area median income.  

Both will receive funding through Dec. 31, 2024. Both projects will leverage additional grant funding and donations for project completion.

The organizations are required to report quarterly to Lee County on project progress and performance. Lee County, the release states, will review and submit required quarterly and annual reports to the U.S. Treasury with information related to each project.

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