Daytona Beach, FL - At an upcoming city commission meeting, Daytona Beach city leaders are slated to discuss an agreement that could bring more affordable housing to the area.
The agreement in question, according to the agenda item, would be between the city and Home Brings Hope—an Ormond Beach-based LLC created by area business leader and philanthropist Forough Hosseini.
In a memo from Michael Stallworth, the city's Business Enterprise Management director, to City Manager Jim Chisholm, Stallworth writes that Home Brings Hope is requesting that the city donate five lots in order to develop more affordable housing.
The agenda item tacked onto the agreement states that the city is planning to offer Home Brings Hope five non-CRA parcels located off of Aberdeen Street, Ruth Street, Spruce Street, and Walnut Street.
Each lot will also be restricted by deed covenants that require the lots to be occupied by affordable homes, constructed by Home Brings Hope, for a period of 10 years. Additionally, the city may enforce the deed covenant, which will be recorded in the County's public records.
According to the agenda item, this will also cost the city nothing as the agreement makes Home Brings Hope responsible for closing costs. Homes will also be priced based off of guidelines set by the United States Department of Housing and Urban Development (HUD).
The Daytona Beach City Commission is set to meet on Wednesday (May 5). The city commission meeting can be watched live in the lobby of city hall, or through DBTV, which can be found online or at local Spectrum Channel 490.