5. The 9% LIHTC program is used to subsidize the construction of new affordable housing facilities for low-income persons

Planning Board Meeting · 2026-06-02 · agenda_item

The City of Palatka is reviewing plans to address a potential loss of affordable housing units. Currently, 1,325 publicly supported housing units exist, but 346 of these may lose their affordability restrictions by 2045 without new subsidies or preservation efforts. The city is considering strategies to preserve and expand income-restricted housing to ensure long-term housing stability for residents. This review is currently under consideration by the Planning Board. The project could involve the construction of new affordable housing facilities, which would likely include site preparation, utility work, building construction, and finishing trades. Local contractors, suppliers, and service providers are encouraged to engage early in this planning process to understand potential future needs and opportunities before specific bid packages and permits are finalized.

known publicly supported housing units

1325 units

units at risk of losing affordability restrictions

346 units

percentage of units at risk

26.1 %