TALLAHASSEE, Fla. (WTXL) — City commissioners approved a new construction loan program, making new affordable housing options available in the Capital City.
Using $750,000 from the affordable housing trust fund, known as the Sadowski fund, funds are made available for single-family home project loans, payable in six to 18 weeks.
Mayor John Dailey says this will address a serious need for people in the city.
"We realize that across the United States, across the state of Florida and here in Tallahassee, affordable housing is an issue that we're dealing with," said Dailey. "We have a tremendous shortage of affordable housing so this revolving loan program not only will continue to feed itself because it's a revolving loan, but it's also going to be a great incentive program."
Dailey says there's no exact timeline on when construction will begin, but they hope to start as soon as safely possible.