Sarasota Housing Authority secures funding from Lee County agency

The Sarasota County Commission has OK'd loans from Housing Finance Authority of Lee County to fund construction of two low-income housing projects.

Amaryllis Park Place III buildings, as shown in this Hoyt Architects rendering, will be three stories tall with a mix of one-, two- and three-bedroom units, all priced at 80% or below area median income.
Amaryllis Park Place III buildings, as shown in this Hoyt Architects rendering, will be three stories tall with a mix of one-, two- and three-bedroom units, all priced at 80% or below area median income.
Courtesy image
  • Manatee-Sarasota
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On the agenda for the Sarasota County Commission’s Feb. 25 meeting was a public hearing of resolutions relating to approving the use of tax exempt loans to the Sarasota Housing Authority of $25 million to finance Amaryllis Park Place III and $27 million for Lofts on Lemon II.

The lender is a rather unusual source: the Housing Finance Authority of Lee County.

What does a government agency in Lee County have to do with financing public housing projects in Sarasota, one might ask?

 

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