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File #: 25-597    Version: 1 Name:
Type: Resolution Status: Consent Agenda
File created: 4/3/2025 In control: County Administrator
On agenda: 4/22/2025 Final action:
Title: Approval and execution of Resolution for the issuance of Multi-Family Housing Revenue Tax Exempt Bonds, in an amount not-to-exceed $74,000,000, to finance the acquisition, construction, and equipping of a property temporarily known as Orlando Family Development Phase I, a residential rental community in Orange County, Florida, District 4. (Housing Finance Authority)
Attachments: 1. OrlandoFamilyDev Ph 1 Agenda Packet
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Interoffice Memorandum

 

DATE: April 2, 2025

 

TO: Mayor Jerry L. Demings and County Commissioners

 

THROUGH: N/A

 

FROM: Frantz Dutes, Orange County Housing Authority

 

CONTACT: Frantz Dutes, Executive Director

 

PHONE: 407-894-0014

 

DIVISION: N/A

 

ACTION REQUESTED:

title

Approval and execution of Resolution for the issuance of Multi-Family Housing Revenue Tax Exempt Bonds, in an amount not-to-exceed $74,000,000, to finance the acquisition, construction, and equipping of a property temporarily known as Orlando Family Development Phase I, a residential rental community in Orange County, Florida, District 4. (Housing Finance Authority)

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PROJECT: Orlando Family Development Phase I is a proposed affordable housing community consisting of 300 units. The proposed bedroom mix are as follows: 62 2-beds/2-bath units; 172 3-beds/2-bath units; and 66 4-beds/2-bath units. Monthly rents are projected to range from $1,454-$1,848. The proposed Set-Asides are 100% at 60% Area Median Income (AMI).

 

PURPOSE: The bonds will be issued to finance the acquisition, construction and equipping of Phase I of a new multifamily Low Income Housing Tax Credit apartment community. At this time, the name of the development is yet to be determined. Throughout the documents the project name is referred to interchangeably as “Tupperware Heights,” “Tup Heights,” or “Orlando Family Development.” The proposed development will comprise of two properties to be developed on 26.14 acres of land at 0 S Orange Avenue, Orlando, Florida in Orange County. The 300-unit Phase I development and the 228-unit Phase II development are both projected to close on the financing in 2026. The applicant is Orlando Leased Housing Associate XIV, LLLP, an affiliate of Dominium Development & Acquisition.

 

BUDGET: N/A