BCC scheduled to vote on affordable housing

[SoWalSally]

By Gabriel Tynes

After years of planning, the Walton County Board of Commissioners is expected to decide the future of an affordable housing development at its meeting Sept 12. During a workshop Aug 29, officials with Regional Utilities presented the results of a nearly three-year plan to develop surplus property east of Freeport.
Lloyd Blue, who leads Regional Utilities’ development team, said, “We are blessed with the opportunity to bring 1,500 to 2,000 workforce home sites online within the next few years.
“We have the ability to make a difference in a very critical way,” Blue said.
Regional Utilities CEO Dewey Wilson said the interest of the development is not in speculation or profi teering.
“What we’ll see is a community coming together for our schools, our health care and our essential services,” Wilson said.
Wilson estimated that as much as 80 percent of Regional Utilities 100 employees commute daily from North Walton or Holmes counties. He said that with the explosion of growth, the timing of the project is “of the essence.”
The 2,200-acre parcel was originally purchased by the utility to expand its wastewater disposal facilities, but they are proposing to develop more than 400 acres as a “workforce housing project,” with homes available from $100,000 - $120,000. Situated on the west side of J.W. Hollington Road, the plan calls for 619 homes to be built in the first two phases. Preliminary sketches show four parks and a 40-acre reservation for future schools. One hundred sixty-fi ve acres are set aside for any development beyond that.
At the workshop, Blue presented Walton County School Superintendent Carlene Anderson an $81,984 check for the school site, which is to be exchanged for a deed once plans are approved. Anderson said it took the trust of several historically polar entities to agree on the development, and she is satisfied with the results.
“People used to tell me the school system wouldn’t get anything from that Regional Utilities’ surplus and now I can tell them ‘I told you so,’” Anderson said.
The plan has taken years to fund and develop, Blue said, largely because of a large scale comprehensive plan amendment to water and sewer requirements. A sewer main is the only existing infrastructure on the site, but with a new treatment facility, Regional Utilities will also be able to eliminate most septic tanks along County Road 3280.
Regional Utilities’ plan is unique in that it won’t cost taxpayers a penny. The utility has created a private, non-profi t corporation to manage the development, with a board of directors to be nominated by the county commission. Along with various private contributions, the project may receive a $5 million state grant from the newlycreated Committee for Workforce Housing Innovation program.
Jeff Sharkey, a grant consultant with the Florida Housing Authority, said the project largely complies with the program’s criteria, and should have little trouble securing the grants.
Sen. Durell Peaden, who was instrumental in pushing the large scale amendment through the Florida Department of Community Affairs, said the if the Walton County workforce housing project is approved, it can be a model for the state.
“It’s a shame for us to have the growth we have and workers are driving from Alabama every day,” Peaden said. “People have discovered this beautiful country, and I am proud to see you all working to keep it livable.”
County Commissioners Kenneth Pridgen, Scott Brannon and Cindy Meadows all had positive comments about the plans, and Pridgen said he’d like to see them move forward “as quickly as possible.”
“The workforce we’ve needed is going to continue to grow, and we need to try to support them,” Pridgen said. “We’re losing too may good people.”
If the plan is approved Sept. 12, Wilson said foundations may be laid by February.

[Busta Hustle]

Unfortunately our local government and utilities are behind the 8 ball when it comes to affordable housing and utility needs. Freeport only records 100 or so home sales a year and yet they propose almost 250 houses in the next year in 1 neighborhood phase and over 600 in just the first 2 phases. If you look back a couple of years you can find affordable house efforts in Freeport along 3280. A whopping 3 or 4 people bought into the program.
Land use would do more good housing a windfarm to generate electricty or as incentives to an alternative fuel producer.

[SHELLY]

This article cried the blues about the absence of "affordable workforce housing" back in September 2006...since then things have gone from bad to worse.

"Affordable workforce housing" pretty much went out the window when the subprime lending market tanked. In Florida, "affordable" housing means anything under $200,000 (sometimes more).

Gone now are strip mall Free2U Mortgage Brokers ("Fog a mirror and you're qualified!"). The new breed of subprime lenders require higher credit scores, at least a 10% down payment, proof of income and verification that the buyer has the wherewithal to actually pay the loan back. So for beginners, how many Walmart cashiers and Waffle House waitresses have $20,000 sitting in the bank?

.

[beachmouse]

I was flipping through Florida Trend's annual State of the State issue. Lots of fun demographics to peruse. For instance, the per capita income in Walton County is $22,000 per year, compared with $36,000 in Okaloosa and $30,000 in Bay.

Take out the higher end, and call a typical Walton County family as one earning $40K per year. In the post-boom era, how much should a lender be willing to lend to that family? And how much should that family be willing to borrow? The old guideline of keeping the mortgage to something less than 2.5-3 times income gives you a mortgage note in the $100-$120K range. Assume a modest down payment, and you're talking actual workforce housing that's in the $130K-$135K range.

So it's a project that's actually in line with incomes for the typical moderate income family in Walton County, unlike a lot of alleged workforce housing developments.

IIRC, the problem with the 3280 project (Black Creek? Bear Creek?) was that it was advertised as something of a manufactured home community and at the time you could still buy a trailer off Chat Holley below the bridge for the same sort of prices they were charging in Freeport.