To qualify for Penny for Pinellas Affordable Housing Program funds, prospective projects must include affordable units for income qualified households. The Board of County Commissioners (BCC) has adopted program guidelines to prioritize projects based on a number of factors, including, but not limited to, range of incomes served, number of units and financial commitment by the project developer. These guidelines were developed by a countywide committee including local municipal agency partners and can be found on the program website.
Applicants seeking funding for eligible projects will be required to submit an application that is reviewed and scored based on weighted project categories, and then forwarded to the Board of County Commissioners for consideration.
Program Highlights
- The County has committed $80 million over the next decade to use with public and private investment for the development and preservation of affordable housing units.
- Funds may be used for land acquisition or for capital projects associated with the development, construction and major rehabilitation of housing units affordable to the local workforce.
- Allowable project types can vary greatly, but household income levels must fall under 120% Area Median Income (AMI) with a particular focus on those households under 80% AMI.
- In addition to program funding, Pinellas County has a number of other incentives available to facilitate affordable housing development (i.e. density bonuses, regulatory flexibility, etc.)
Housing Project Framework
Goal
Increase the number of affordable housing units throughout Pinellas County by supporting the development of new affordable units and preservation/rehabilitation of existing affordable units.
Eligible Projects
- Minimum 10 affordable units / No Maximum Unit Count
- A Minimum of 30% of the units must be affordable
Eligible Use Of Funds
- Land Acquisition as authorized by Florida Statute Section 212.055(2)(d)(1)(e) All land acquired with designated land acquisition funds will remain in ownership by a local government or special district.
- Capital Projects as authorized by Florida Statute Section 212.055(2)(d)(3) Includes the hard costs associated with site improvements, infrastructure and building construction including major rehabilitation of existing units.
Ineligible Use Of Funds
Financing, administrative or operating costs (other restrictions may apply)
Project Scoring
Each category is weighted based on funding preferences. The scoring will help staff prepare recommendation reports for each application to the Board of County Commissioners. The County will include the scoring results, the adopted program guidelines, and other quantitative and qualitative information to develop project recommendations
What You’ll Need To apply
To apply for funds, a complete application including supplemental developer and project information must be submitted. Please note: applications will only be eligible for review if all of the required documents are included. Please review the application for the required documents, which include:
- Articles of Incorporation
- Insurance Documentation
- Evidence of Site Control
- Property Information
- Preliminary Site Plan
- Development Schedule
- Development Budget Sources and Uses
How to Apply
- Review the Sample Application
- Gather necessary documents
- Apply online
Timeline (Round 2 Cycle)
Fall 2020
Notice of funding, application available, first application cycle completed
Winter 2021
Recommended projects go to the Board of County Commissioners for approval
Spring 2021
Finalize due diligence and commence construction
