DBCC To Approve Affordable Housing Development Agreement

Daytona Beach, FL – The Daytona Beach City Commission is expected to approve an Affordable Housing Development Agreement between the City of Daytona Beach and Homes Bring Hope, LLC during tomorrow’s (May 5) regularly scheduled meeting. Area Business Leader Launches Homes Bring Hope The agreement asks that the city of Daytona Beach donate five platted parcels of real property, conveyed by special warranty deed, situated between U.S. 1 and Nova Road on the east and west side and Madison Avenue and George W. Engram Boulevard to the north and south. All properties listed are currently empty lots. 1 5338-71-00-0130 632 Aberdeen Street $7,515.00 2 5338-71-00-0120 630 Aberdeen Street $7,682.00 3 5338-74-04-0050 725 Ruth Street $10,313.00 4 5338-92-02-0090 540 Spruce Street $7,350.00 5 5338-97-07-0010 451 Walnut Street $3,691.00 The homes that will be built on these properties are meant for low-income households within the Daytona Beach area who are “Cost Burdened,” meaning that these households pay more than 30% of their income for housing.  Each parcel will be deed-restricted for 10 years that can be enforced by the City and be recorded in the County’s public records.  Homes Bring Hope will pay the closing costs.  No funding from the city is required.