Union Academy Land Bank - Special Infill Program
The Department will work with an affordable housing related not-for-profit agency to administer a land bank program in the Union Academy Neighborhood. In order to minimize conflicts with regards to disposition, this agency will not be involved in building or operating other programs in the neighborhood. The role of the land banker will be to seek out vacant buildable single-family lots for sale by private owners. The agency will perform all necessary due diligence on the parcel and, if found suitable, submit the property and supporting documentation to the Department. If the Department deems this property suitable for land banking, the agency will be given an interest-free, no repayment loan to purchase the property. The loan documents will protect the public investment in the property and set the conditions and terms by which the property may be disposed. The agency will dispose of the properties in accordance with the agreed terms.
Union Academy Special Impact Fee Relief
The Department will provide to any homebuilder a rebate of up to 50% of City of Tarpon Springs' water, sewer, public services, fire protection, and transportation impact fees.
Provided the following stipulations are met:
- The home is located within the Union Academy Neighborhood Urban In-fill Area;
- It is a single-family owner-occupied house, the value of which does not exceed $190,000;
- It is constructed in a manner that meets or exceeds the Union Academy Neighborhood's Minimum Specifications for Construction of Single Family Houses; and
- It is owned and occupied be a household whose gross income is at or below 120% of Area Median Income, as periodically updated by the U.S. Department of Housing and Urban Development.