1. Staff recommends motion to receive and file: Amendment 003 to Loan Agreement

Palm Beach County Board of County Commissioners · 2026-08-25 · agenda_item

This item concerns an amendment to a loan agreement for the acquisition and rehabilitation of a property located at 308 N. Main Street in Belle Glade, Florida. The project involves converting an unoccupied motel into 18 affordable studio units. The loan, totaling $1,611,797 in Community Development Block Grant, Coronavirus funds, is being modified for the third time. This amendment extends deadlines for loan disbursement, obtaining temporary certificates of occupancy, and leasing the units. The project is currently under review as an amendment to an existing loan agreement. The work involves rehabilitation of the existing structure, which may include site clearing, underground utility work, and interior and exterior finishing trades. Contractors, suppliers, and service providers interested in future work related to affordable housing rehabilitation projects should monitor future announcements as this project progresses through its revised timelines.

loan amount

1611797 dollars

dwelling units

18