Fort Myers CRA Closes on Revolving Housing Loan for Affordable Housing in Redevelopment Areas
The Fort Myers Community Redevelopment Agency (CRA) has recently announced the closing of a revolving housing loan program to support the development of affordable housing in the city’s redevelopment areas. The loan program aims to provide low- to moderate-income households with more affordable housing options, as well as revitalize the neighborhoods in the city.
The loan program will provide funds for the construction and rehabilitation of homes for low- to moderate-income households in the city’s designated redevelopment areas. The CRA’s goal is to create a sustainable, mixed-income community where residents can live, work, and play. The funds will be available to developers who want to build or renovate affordable housing in these areas, and the loan will be repaid by the developers, which will provide funds for future affordable housing projects.
The CRA’s Executive Director, Michele Hylton-Terry, expressed her excitement about the loan program, stating that it will provide more affordable housing options for the city’s residents, which is a key component of the agency’s mission to revitalize the city’s neighborhoods and promote economic growth. She added that the program is a great opportunity for developers to partner with the CRA in its mission to provide affordable housing options for the city’s residents.
The loan program is expected to benefit many residents who have been struggling to find affordable housing in the city. According to the CRA, the demand for affordable housing in the city has been increasing, but the supply has been limited. The CRA’s initiative will help bridge this gap and provide more housing opportunities for low- to moderate-income households.
The loan program is just one of the many initiatives that the Fort Myers CRA has launched to revitalize the city’s neighborhoods. The agency has also been working on several other projects, including streetscape improvements, business assistance programs, and beautification projects, among others. All of these initiatives are aimed at improving the quality of life for residents and promoting economic growth in the community.
In conclusion, the Fort Myers CRA’s revolving housing loan program for affordable housing in redevelopment areas is a positive step towards providing more housing opportunities for low- to moderate-income households in the city. It will not only improve the quality of life for residents, but also contribute to the economic growth and revitalization of the community. The program is an excellent opportunity for developers to partner with the CRA in its mission to provide affordable housing options for the city’s residents. The CRA’s efforts to revitalize the city’s neighborhoods through various initiatives demonstrate its commitment to the community’s growth and development.