Florida Workforce Housing Receives State Grant

A pilot program launched last year to stop the exodus of critical workers such as police, teachers and nurses will stay on the state’s funding roster.

Starting Dec. 31, developers will be able to apply for part of the $62.4 million that legislators allocated for the Community Workforce Housing Innovation Program (CWHIP), a workforce Florida housing program.

The program ran as a pilot with $50 million in funding in 2006. Out of 33 applications, the Florida Housing Finance Corp. granted 11 projects awards of up to $5 million each. The money helps developers offer a total of 991 units for sale or rent at sustainable workforce prices.

Two of the projects are in the South Florida housing market and a third local project is on the waiting list for funding in case one of the approved deals falls through.

MerryPlace, a 14.7-acre urban infill program in West Palm Beach, qualified for $5 million in funding from CWHIP. As required, the project is a public-private partnership. The partners consist of the West Palm Beach Housing Authority, Banc of America Community Development Corp., the city of West Palm Beach and its community redevelopment agency.

Additional funding was pledged by Grand Bank and Trust, the School District of Palm Beach County and the Housing Finance Authority of Palm Beach County.

These public entities got on board because the buyers will be limited to essential service personnel making no more than 120 percent of the area’s median income. For instance, a family of four can earn no more than $77,280 a year. MerryPlace’s 114 units are priced from $119,000 for a one-bedroom condo to $171,500 for a three-bedroom condo. A deed restriction will keep them affordable housing upon resale.

The buyers can also qualify for Florida mortgage assistance through the State Housing Initiatives Partnership Program (SHIP).

MerryPlace workforce units will be blended with 128 units financed with the help of tax credits, which are for low-income residents who qualify for federal subsidies.

Getting CWHIP funding was crucial in obtaining bank financing for this project, said Laurel Robinson, executive director of the West Palm Beach Housing Authority.

Being a green project, with certification from the Florida Green Building Coalition, helped win the nod for CWHIP funding from the Florida Housing Finance Corp., she said. MerryPlace will use environmentally friendly building materials, native plants, gas-powered stoves and dryers, and is recycling much of the construction waste.

These green building aspects added only 3 percent to the cost of the project, Robinson said.