CLEARWATER – The Clearwater City Council approved a loan to Habitat for Humanity of Pinellas County in an amount not to exceed $600,000 for the construction of 13 three-bedroom single-family homes within the 600 block of North Garden Avenue.
The approval came during a workshop on Feb. 27 at City Hall.
The loan covers the purchase of five properties along a 1.6-acre parcel of land within the block bordered by North Garden Avenue, Eldridge Street, Maple Street and the Pinellas Trail.
Closing on the land is expected to happen this week and the construction loan established by the city will be comprised of both state and federal monies.
Funding for the loan includes $450,000 from the United States Department of Housing and Urban Development’s HOME Investment Partnership Program and $150,000 from the State Housing Initiatives Partnership Program.
An estimated $325,320 will be paid back to the city in 13 equal payments as each home is sold to a qualifying buyer.
The total cost of the project is expected to top $1.6 million with the first home completed by the end of summer. The remaining properties are expected to be developed by July 2018.
In other news:
• The city also entered into a five-year interlocal agreement with the county to utilize Ross Norton Parks and Recreation complex as a disaster shelter.
This agreement provides for the facilities and necessary personnel before, during and following a disaster.