By Brian Bandell
– Senior Reporter, South Florida Business Journal
Dec 14, 2017, 7:18am EST
The Palm Beach County Commission will consider approving financing for two affordable housing developments Dec. 19.
South Florida is one of the least affordable regions of the country, so these new projects could help moderate-income people find places to live within a reasonable distance of employment centers. The Village of Valor project is seeking $17 million in tax-free bonds through the Palm Beach County Housing Authority.
The developer, not the county, would be responsible for repaying the bonds. The Village of Valor would have 157 units at 2431, 2441, 2559 and 2650 Second Avenue North in Lake Worth.
The agreement says 127 of those units would be rented to people making no more than 60 percent of the area median income. The borrower would be Village of Valor Ltd., managed by Roy Foster in Palm Springs. Read more from bizjournals.com…
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