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  THE LOW INCOME & URBAN HOUSING BLOG  

Monday, July 2, 2012

Delray Beach Community Redevelopment Agency Gives $2.7 Million To Build Low-Income Housing In Florida

Delray Beach Community Redevelopment Agency
With more than 1,000 families on its Section 8 voucher waiting list, affordable housing for low-income families is needed in Delray Beach, Florida. They are now going to receive help, thanks to $2.7 million in funding from the Delray Beach Community Redevelopment Agency.

In addition, $5.9 million in Florida Tax Exempt bond financing and tax credits from the Florida Housing Finance Corporation will finally allow construction to begin on a 254-unit project which includes 84 rental apartments for low-income seniors, 144 rental apartments for low-income families and 24 single-family homes that can be purchased.

Founded in 1985, the Delray Beach Community Redevelopment Agency (CRA) is dedicated to improving both the environment and economy in Delray Beach communities. They support redevelopment, historic preservation, and affordable housing efforts. Affordable housing for low- and moderate-income families has been a strong goal since the beginning and includes projects such as down payment subsidies for first-time homebuyers, construction of townhomes, apartment buildings and renovation of foreclosed properties for seniors and low-income families.

The new housing project, called Village Square, sits on 11 acres and will provide new homes for those in need as well as adding revitalization efforts to the city's southwest neighborhood.

For more information, visit www.delraycra.org




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