Tamarac to consider $640,000 conditional loan commitment to HTG Tamarac for workforce housing project

The July 6 staff meeting included a preview of a conditional loan commitment of $640,000 to HTG Tamarac to support the developer's application to the Florida Housing Finance Corporation for a workforce or affordable housing project at the corner of 88th Street and NW 57th Avenue.

Staff described the commitment as an improved conditional loan to strengthen the developer's financing application; the developer will present to the commission on Wednesday. Staff also said they will seek a local-government area-of-opportunity designation for the property to bolster the state application.

Staff characterized the proposed project as workforce/affordable housing and noted the developer has similar projects elsewhere in the county. The item will be on the July 8 commission agenda for presentation and action as appropriate.

Next steps: the developer will present at the commission meeting and staff will ask the commission to consider the conditional loan commitment and the area-of-opportunity designation.