Suffolk County, acting through its Department of Economic Development and Planning may issue bonds to acquire sites for qualifying workforce housing developments. Such sites will be transferred at no cost to the participating town or village, which will either develop the site itself, or do so in conjunction with a non-profit or for profit entity. Such developments must contain, at minimum, 20% workforce housing units, i.e., 10% of the units available for those earning up to 80% of median income and 10% of the units available for a period of at least ten years.
Approved applications may be funded on a first-come, first-served basis. The county reserves the right to reject any and all applications, negotiate with applicants, recommend funding in an amount less than requested, conduct site visits, interview the applicant and development team and request additional information. The county also reserves the right to take any actions deemed appropriate to assure that program funds are distributed throughout the county.
A preference will be given for: a) developments that provide more than 20% of their units for workforce housing; b) developments that seek to keep their units affordable permanently; c) developments of ten units or more; d) developments built according to green standards; and e) developments that meet the county's Smart Growth goals. All applications must provide a supporting letter from the supervisor or mayor of the applicable local municipality.
Process to obtain funding
After review of a qualifying application, county staff will prepare a Planning Step resolution detailing the proposed transaction, which will be presented to the Suffolk County Legislature. Such resolution will authorize among other things, the appraisal of such property (if not already completed in a manner satisfactory to the county) and the development of a Land Disposition and Development Agreement governing the terms of such transaction. The property must appraise at or above the sale price to be paid by the county.
The county will prepare a Land Disposition and Development Agreement, outlining the terms and conditions of the developer's, the municipality's and the county's involvement. the municipality must pass a resolution agreeing to take title to the property subject to the requirements of the Land Disposition and Development Agreement.
Once the project components are in place, in a manner satisfactory to the county, staff will prepare an authorizing resolution for presentation to the county legislature. Such resolution shall commit the county, subject to any stated conditions, to purchase the applicable site.