Gospel Inc. will receive $685,000 from the City of Lakeland as construction is underway to expand its housing to help people facing homelessness.
Lakeland commissioners voted unanimously 6-0 to approve a $685,000 deferred loan to Gospel Inc. for its latest expansion of Gospel Village. The funds came into the city as part of the American Rescue Plan.
“Residents we currently have and those chronically homeless who slept on the streets last night thank you for the opportunity to be able to expand, to build 48 units and eventually have a total of 72,” said Ray Steadman, Gospel Inc.’s executive director.
The two buildings will be built on a vacant lot immediately east of the current Gospel Village along East Lemon Street. The buildings will face each other with an access road and parking area in between.
Each of the apartment units will be designed to house one individual in a roughly 400- to 450-square-foot space with their own individual bathroom, kitchen, and living area.
Under the city’s loan terms, Gospel Inc.’s deferred loan will be fully forgiven provided the apartments are maintained as affordable for at least 20 years. The apartments will be rented to individuals making 30% of the area’s median income or less.
Brian Rewis, Lakeland’s director of community and economic development, said 30% of the AMI is about $16,500.