Update:https://www.naplesgov.com/media/154501 Per the CRA policy to increase the amount of affordable housing within the CRA, this project is in anticipation of opportunities to purchase suitable land and/or partner with other landowners interested in developing affordable housing. In FY 2023 the CRA spent $1.9 million from the affordable housing project fund for land acquisition. If additional opportunities become available in the current budget year that the CRA acts upon, the carryover and total balances will be reduced. Project is included City of Naples Fiscal Year 2025-2029 Page no 101 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The CRA Board funded an Affordable Housing study in the FY21 budget. The study was completed and accepted by CRA in May 2022. The implementation plan consistent with the Redevelopment Plan was approved in September 2022. FY 22-23 projects include the purchase of property, or partnership to further the goal of increasing affordable housing in the City. This project reserves $2,000,00 for the purchase of property, or partnerships to increase the number of units available for the workforce within the City of Naples. The project is include in the city's 2024-2028 Capital Improvement Program (CIP) *Project information has been obtained through a public capital improvement plan (CIP). A CIP is a financial schedule for short- and long-range projects which is updated regularly. Information listed in the CIP often evolves based on funding availability and the project details, including timeline and value, are subject to change. The content management team will continue to pursue additional details as they become available.