Developers in St. Pete can submit applications for projects with the Affordable Rental Housing Program.<\/p>\n
ST. PETERSBURG, Fla. \u2014 It’s no secret that St. Pete needs more affordable housing.<\/p>\n
Now, if you’re a qualified developer in St. Pete, you have until mid-June to submit a proposal for the Affordable Rental Housing Program under the Sunrise St. Pete initiative, funded through a grant<\/a>.<\/p>\n Officials with the City of St. Petersburg announced on Monday that they are accepting applications from developers for its program, which aims “to meet post-disaster housing demands by providing funds to developers for the construction, substantial rehabilitation, or conversion of affordable rental housing units for households earning at or below 80% of the Area Median Income (AMI).”<\/p>\n According to the city’s website, 80% AMI is roughly $64,250 in a household of one person, $73,400 in a home of two and $82,600 if the household has three people living in it.\u00a0<\/p>\n The program is being funded with roughly $42 million by the Community Development Block Grant – Disaster Recovery<\/a> (CDBG-DR) money, which was allocated to St. Pete by the U.S. Department of Housing and Urban Development.<\/p>\n RELATED: Communities across Florida are getting federal dollars. Here’s how Community Development Block Grants are used with little oversight<\/a><\/p>\n “These funds are allocated to aid in long-term recovery, housing, and infrastructure based on impacts from Hurricanes Idalia and Helene,” St. Pete officials said in a press release.<\/p>\n A competitive process will follow to review applications and officials say these must be submitted by at 5 p.m. Friday, June 12.<\/p>\n If you want to learn more about eligibility, how to apply, and to view the program guidelines, visit the city’s website<\/a>.<\/p>\n To learn about other AMI limits depending on household size in St. Pete, you can visit the city’s website here<\/a>.<\/p>\n