By next year, Daytona Beach should have some newly renovated affordable housing.
A state agency has decided to give the city nearly $2.4 million in federal stimulus dollars to buy and renovate the Daytona Village Apartments on Keech Street.
That makes Daytona Beach and Miami Beach the first two cities in the state to successfully use their slice of $541 million set aside for Florida cities and counties to buy and redevelop abandoned or foreclosed properties. The Florida communities receiving funds are those with the greatest needs based on the extent of foreclosures, sub-prime mortgages and mortgage delinquencies and defaults, according to the DCA (Dept of Community Affairs).
While the money distributed by the Department of Community Affairs is being funneled through the city, the apartments just east of Nova Road near International Speedway Boulevard will become a Housing Authority property. The city will stay involved in each step, and give the state money to the Housing Authority in increments as it's needed. The appraisal and rehabilitation work will go through the normal bidding process, said Emory Counts, the city's community and economic development director.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.ormondbeachscene.com
(resource: News-journalOnline.com)
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