SUBJECT
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Ratify and approve correction of a scrivener’s error and inclusion of Exhibit A (Legal Description) and Exhibit B (Other Applicable Laws and Regulations) to the Tri-Party Agreement for State Housing Initiatives Program (SHIP) Funding for Grove Manor II Apartments, Lake Wales. (No fiscal impact).
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DESCRIPTION
On September 16, 2025, the Board approved Agenda Item G. 1. a Tri-Party Agreement with Grove Manor Phase II, LLC (“Developer”), and Neighborhood Lending Partners of Florida, Inc. (“NLP”) for the County to provide the Developer SHIP funds for use in developing affordable rental housing for low-income populations at its Grove Manor II Apartment project. After approval, it was noticed that the agreement form submitted for approval contained a scrivener’s error consisting of a blank space where the agreed amount of a subordinate project loan from the Lake Wales Housing Authority (“LWHA”) should have been inserted, and did not contain the referenced Exhibit A, a legal description of the real property where Grove Manor II will be constructed, or Exhibit B, a list of laws and regulations pertaining to the loan underwriting and other services which NLP will perform for the County.
The parties have not yet executed the agreement, and all confirm the agreement should state an LWHA subordinate loan amount of $1,000,000.00 and contain Exhibits A and B as stated on the attachment to this item.
RECOMMENDATION
Ratify and approve correction of the described scrivener’s error and inclusion of Exhibit A (Legal Description) and Exhibit B (Other Applicable Laws and Regulations) to the Tri-Party Agreement for SHIP funding for Grove Manor II Apartments.
FISCAL IMPACT
No fiscal impact.
CONTACT INFORMATION
Jennifer Cooper
Housing and Neighborhood Dev. Manager
534-5209
jennifercooper@polk-county.net