Fort Walton Beach Resolution — 2022-08--Workforce Housing — reading text

RESOLUTION 2022- 8 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, CREATING A WORKFORCE HOUSING INCENTIVE FUND; AND PROVIDING AN EFFECTIVE DATE WHEREAS, the City Council of the City of Fort Walton Beach, Florida, recognizes there is a shortage of workforce housing in Okaloosa County and the City; and WHEREAS, the workforce housing shortage affects nearly every aspect of the economy making it harder for local businesses to recruit and retain a dependable workforce; and WHEREAS, on November 10, 2020, City Council held a workshop to discuss workforce and affordable housing. During the workshop, Staff presented an overview of the City' s housing objectives and incentives and workforce/affordable housing programs throughout the state; and WHEREAS, on January 25, 2022, a public workshop was held with City Council to discuss proposed Land Development Code changes that could help promote the development of workforce housing within the City; and WHEREAS, on April 26, 2022, the City Council adopted Ordinance No. 2099 to set forth the requirements of a Workforce Housing Program to encourage and incentivize the development of workforce housing in the City; and WHEREAS, Ordinance No. 2099 created the framework and guidelines for a Workforce Housing Incentive Fund; and WHEREAS, the City Council has determined it would serve a public purpose and provide a benefit to the public to establish a Workforce Housing Incentive Fund to incentivize the development of workforce housing in the City of Fort Walton Beach. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: Section 1. Establishment of a Workforce Housing Incentive Fund The City Council hereby establishes a Workforce Housing Incentive Fund as set forth in Ordinance No. 2099. The Workforce Housing Incentive Fund shall be used in accordance with the guidelines included in Section 4. 10 of the Land Development Code. The initial allocation to the Workforce Housing Incentive Fund for FY 2021- 22 shall be 1, 500,000 from the General Fund Unrestricted Fund Balance, which shall be transferred to the Restricted Fund Balance of the General Fund upon adoption of this Resolution. This fund may be replenished on an annual basis as directed by City Council, Section 2. Management of Fund The Workforce Housing Incentive Fund shall be managed by the Growth Management Department. Any request for funding shall be prepared as a Development Agreement requiring City Council approval. Section 3. Effective Date  RESOLUTION 2022- 8 This resolution shall become effective upon adoption of City Council and signature of the Mayor. Adopted: At . 2q - W,= Richard A. Rynearson, Wayor Attest: Approved for form, legal suf ' cy Kimacnes, City k e aywa ykes, Jr., City; o ey