TAMPA, FL, September 25, 2009
/24-7PressRelease/ -- As the Denver Housing Authority learned this week from U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan that it will receive stimulus funds from the American Recovery and Reinvestment Act for a mixed-use, mixed income transit-oriented community (http://bit.ly/8KhPR), Tampa awaits word on its federal stimulus grant for a similar project.
If approved next week, Tampa's Encore development stands to receive $38 million in federal stimulus dollars from the U.S. Department of Housing and Urban Development's Neighborhood Stabilization Program 2 -- $28 million to build the infrastructure and another $10 million for foreclosure mitigation activities.
Encore will be built on the site of the once-blighted Central Park Village, between downtown Tampa and Ybor City. This project had been in the development process for more than four years and was delayed by the recent recession. It is now in the position to be fast-tracked with the help of federal stimulus money.
The grant was submitted in July by the City of Tampa, Tampa Housing Authority, and Banc of America Community Development Corporation.
The project is expected to create more than 4,000 jobs during the construction period and about 1,000 permanent jobs.
Once built, Encore will offer housing for more than 1,700 residents across a broad social and economic spectrum. It will offer offices, a new hotel, grocery and other retail space, a middle school, church and community park. It's also transit-oriented development, within walking distance of a planned regional light-rail terminal.
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