A program in Pasco County is offering millions of dollars in incentives to developers willing to build affordable housing is closing its application window on Tuesday, April 28.
The “Better Futures” initiative is backed by $100 million in federal block grant funding tied to hurricane Helene and Milton disaster relief. County leaders say they chose to direct those recovery dollars toward long-term housing solutions rather than temporary assistance.
Officials aim to split the funding roughly in half — one portion for affordable rental units and the other for single-family homes.
The program targets a common obstacle in affordable housing development: the funding gap between what lenders provide and what a project actually costs. Developers submit proposals showing their existing capital and what they still need, and the county covers the difference to help projects move from planning into construction.
Several projects are already underway, including an apartment complex near Anclote High School in Holiday and a partnership with Habitat for Humanity on single-family homes.
The county recently expanded income eligibility requirements, opening the door to more residents who may qualify for homeownership assistance through the program.
Pasco County opted out of Florida’s statewide Live Local Act, which offers similar developer incentives, saying it wanted to maintain local control over how housing growth is shaped.
Developers with questions or those wishing to submit a last-minute proposal can visit the Pasco County website. The deadline is tomorrow.
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