St. Petersburg’s City Council voted unanimously on Sept. 17 to earmark $11.6 million for affordable‑apartment projects in the South St. Petersburg Community Redevelopment Area (CRA) for the upcoming fiscal year. The money, which comes from a share of rising property‑tax revenue within the 7.4‑square‑mile district, represents the largest portion of the $22.9 million CRA budget expected next year.
How the Funding Is Distributed
Housing receives roughly two‑thirds of the new CRA revenue—about $15.1 million—while the remaining $7.8 million supports neighborhood programs. Of the housing allocation, $11.6 million is dedicated to a program that fills financing gaps for affordable multifamily developments.
Housing and Community Development Director Avery Slyker noted that the city already has 11 development applications seeking more than $60 million in CRA assistance. Although Slyker did not break down the $60 million figure, the agenda packet identifies at least $35 million in unfunded multifamily requests tied to 398 affordable units, with additional funding likely to be pursued from other sources.
Single‑Family Support and Resident Concerns
The budget also sets aside $2.75 million for single‑family housing programs, including $2.4 million for down‑payment assistance, $180,000 for home‑repair grants, and $75,000 for residential‑facade improvements. An additional $90,900 will fund Paint Your Heart Out, a program that provides repair and maintenance work for qualifying homeowners.
Councilmember Brandi Gabbard emphasized community feedback: residents appreciate new construction but want more assistance to keep existing homes livable and in family hands. “People want to be able to stay in the homes, the naturally occurring affordable housing that currently exists, and keep those homes for future generations even,” she said.
Budget Transparency and Ongoing Projects
Councilmember Gina Driscoll asked for clearer budgeting, noting that some funds appearing as surplus may already be committed. Staff pointed to the Fairfield Avenue affordable‑housing project, where the city has pledged $9.7 million, with roughly $7 million expected to roll into the next fiscal year because the developer has not yet drawn the funds.
City officials highlighted several projects already moving forward with CRA support, including the 40‑unit Pelican Place development, the 12‑unit Grove project, and smaller Namaste developments. A public dashboard is under development to let residents track CRA spending and outcomes over time.
Looking Ahead
With $11.6 million secured for multifamily projects and at least $35 million in requests under review, the council faces a decision on whether to expand the funding pool. South St. Pete resident John Muhammad, co‑executive director of Policy Partners, urged the council to balance new construction with resources that help existing homeowners repair and retain their homes.
“I think we can continue to invest heavily in affordable housing while putting more resources directly into helping existing homeowners repair and keep the homes that they already have,” Muhammad said.
Vice Chair Richie Floyd raised the possibility of shifting funds later in the year if demand for home‑repair or down‑payment assistance exceeds the budgeted amount. Staff indicated that any reallocation would require council approval.
The city will begin the new fiscal year with the $11.6 million allocation, the $35 million in pending requests, and additional CRA revenue expected from rising property values. Stakeholders anticipate further public input as the council refines the budget and considers supplemental funding to meet the growing demand for affordable housing in South St. Pete.
Original reporting: St. Pete Catalyst — read the source article.
