Summary:
On October 29, 2012, the City of Orlando awarded $536,550 in HOME Program funds to The Village of Orlando, Inc. (Village), to renovate twenty-two (22) units in the Clear Lake Apartment complex located at 1737 & 1801 Grand Street and 1784 & 1788 Columbia Street. The renovated units will be rented to very low and low income residents who meet the income guidelines as provided by the United States Department of Housing and Urban Development (HUD).
The Village and Clear Lake Community, Inc. have requested the subject agreement be amended to reflect the actual number of units available for occupancy as a result of the renovation project. The original agreement stated 22 units were to be rehabilitated; however, during the renovation project, a couple of the units were combined resulting in 21 HOME assisted units available for rent to income eligible residents. Pursuant to the Agreement, the 21 units shall remain Affordable for ten (10) years commencing from Project completion.
In addition, the Village and Clear Lake Community, Inc. have requested a one (1) month extension to the June 30, 2014 deadline to have all units rented and occupied. No additional funds are being requested.
City Staff have reviewed this request and agree to the recommended changes. The amount of HOME funds awarded to this project remain within the HOME approved subsidy guidelines. All other terms and conditions contained in the original Agreement will remain in full force and effect.
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