{"id":67826,"date":"2024-07-05T11:56:52","date_gmt":"2024-07-05T15:56:52","guid":{"rendered":"https:\/\/ontheridgemagazine.com\/index.php\/2024\/07\/05\/citys-partnerships-dedicated-to-providing-affordable-housing-for-families\/"},"modified":"2024-07-05T12:24:24","modified_gmt":"2024-07-05T16:24:24","slug":"citys-partnerships-dedicated-to-providing-affordable-housing-for-families","status":"publish","type":"post","link":"https:\/\/www.winterhavendaily.com\/index.php\/2024\/07\/05\/citys-partnerships-dedicated-to-providing-affordable-housing-for-families\/","title":{"rendered":"City’s Partnerships Dedicated To Providing Affordable Housing For Families"},"content":{"rendered":"\n

City’s partnerships dedicated to providing affordable housing for families<\/strong><\/p>\n\n\n\n

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Lake Wales, Fla. (Jan. 25, 2022) <\/strong>\u2013 The City of Lake Wales Community Development Agency (CRA) provides homes to new residents in the Northwest Neighborhood, as part of phase one of the affordable housing initiative.<\/p>\n\n\n\n

The city partnered with Keystone Challenge Fund to build two houses on lots previously owned by the Green and Gold Foundation across the street from the B Street Center.<\/p>\n\n\n\n

\u201cIt\u2019s rewarding to see our efforts positively impact families,\u201d said CRA Project Manager Darrell Starling. \u201cThe affordable housing initiative aligns with the steps and goals included in the award-winning Lake Wales Connected Plan for the revitalization of the city\u2019s historic downtown district and Northwest Neighborhood,\u201d he noted.<\/p>\n\n\n\n

Officials said the homes have an estimated value of $175,000 with mortgage payments estimated at $950 a month, according to Jeff Bagwell, Keystone\u2019s Executive Director.<\/p>\n\n\n\n

\u201cIf you have looked at rents, what they cost, very few people can find a decent rental for $950, especially in the market we are in today,\u201d said Bagwell. \u201cThis program truly changes people\u2019s lives, and there\u2019s a ripple effect,\u201d he noted.<\/p>\n\n\n\n

The houses were built by a collaborative effort of the city, CRA, Keystone, Polk County Housing and Neighborhood Development, and SouthState Bank, formally CenterState Bank.<\/p>\n\n\n\n

The city paid $10,000 to acquire the lots. An additional $30,000 to cover closing costs was awarded to the city in the form of a community reinvestment grant from SouthState Bank. The county provided up to $250,000 in initial building costs, while Keystone gave more than $50,000.<\/p>\n\n\n\n

CRA officials said the project will generate about $10,000 in tax increment funding over a three-year period, which would cover the purchase price on the empty lots. Increased tax revenues generated by new growth go back to the CRA to be used towards future development projects.<\/p>\n\n\n\n

\u201cWe know if we do this right, we can take the entire block and really turn it around,\u201d said Bagwell. We\u2019re very excited about coming to Lake Wales,\u201d Bagwell noted.<\/p>\n\n\n\n

Bagwell also expressed interest in working with the CRA on beautification projects for additional houses along B Street.<\/p>\n\n\n\n

Families picked for the housing will go through class work provided by Keystone to cover such topics as credit, budgeting and how to apply for a mortgage.<\/p>\n\n\n\n

\u201cWhen we sell a home to a family, they are prepared, no doubt about it,\u201d said Bagwell.<\/p>\n\n\n\n

CRA Chairman Robin Gibson reflected the positive response from city commissioners, which doubles as the CRA board.<\/p>\n\n\n\n

\u201cI\u2019m excited to see this partnership go forward. This is something we have been talking about for a while, and this is an avenue that\u2019s going to get us there,\u201d Mayor Eugene Fultz added.<\/p>\n\n\n\n

Keystone Challenge Fund is a non-profit organization established in 1991 in Lakeland, Florida. For almost 30 years, Keystone has maximized the availability of affordable housing for low-to-moderate-income home buyers to connect families with home ownership, according to company officials.<\/p>\n\n\n\n

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It is the goal of the City of Lake Wales to ensure that the services we provide are as accessible for individuals with disabilities as they are for individuals without disabilities. If this correspondence or any attachments provided do not address your specific needs, please email us and we will work to provide the information to you via alternative means. If you have questions or require additional information, please contact the City Clerk at records@lakewalesfl.gov<\/a>. City of Lake Wales e-mail and web site domain name have changed to Lakewalesfl.gov. E-mails to cityoflakewales.com addresses will no longer be delivered. NOTICE: Under Florida law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public-records request, do not send electronic mail to this entity. Instead, contact this department by phone or in writing.   \u00ad\u00ad  <\/p>\n","protected":false},"excerpt":{"rendered":"

City’s partnerships dedicated to providing affordable housing for families Lake Wales, Fla. (Jan. 25, 2022) \u2013 The City of Lake Wales Community Development Agency (CRA) provides homes to new residents in the Northwest Neighborhood, as part of phase one of the affordable housing initiative. The city partnered with Keystone Challenge Fund to build two houses […]<\/p>\n","protected":false},"author":3,"featured_media":70618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-67826","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fast-factual-free"},"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.winterhavendaily.com\/wp-content\/uploads\/2024\/07\/WinterHavenDaily-Trans-1.png?fit=400%2C240&ssl=1","aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t