The Lake Wales CRA will give developer’s assistance to build affordable homes in the Core Improvement area. The actual assistance to be offered is subject to negotiation and may be made available at the beginning of a project (such as the payment of impact fees,) made incrementally during construction, or at the close of a project. In addition, to encourage the sale of the home, down payment assistant is available for the buyer on a case by case basis.
Note: Each buyer must agree to terms and condition found in the Lake Wales CRA Down payment Incentive.
Each developer has to build within the City’s Core Improvement Area (map shown below).
Developers must come into a development agreement with the City and adhere to the following and requirements:
- Begin site development within six (6) months from the date of the signed agreement
- Begin applying for building permit(s) within one (1) year from the date of signed agreement
- Sell the home to an individual who is at least in the 120% Area Medium Income (AMI) (see chart below)
For more information please contact the CRA at email@example.com or call us at 863.678.4182. EXT 1337.