80-unit affordable housing project Flats on 4th moves forward in north St. Pete
/An undeveloped parcel at the southwest corner of the intersection of 106th Avenue North and 4th Street North will be developed into 80 affordable apartments reserved for seniors.
The project, dubbed Flats on 4th—a previously approved four-story mid-rise building designed for low-income seniors earning between 40% and 60% of the area median income (AMI).
The Pinellas County Housing Finance Authority purchased the land for the project earlier this month, as Trustee of the land trust, for $2.94 million using Penny for Pinellas funds, a voter-approved one-cent sales tax designated for infrastructure improvements.
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St. Petersburg has a rule that protects our waterfront. If the city wants to lease public waterfront land for longer than a short term, voters decide. That rule is worth keeping, and a "yes" vote on Charter Amendment #2 does not weaken it.
Here is what it changes. Under the City Charter, Port leases are capped at 10 years unless voters approve more in a citywide referendum. Charter Amendment 2 would raise that cap to 25 years, the same limit Albert Whitted Airport has had since 2004, when voters raised it from five years. Giving the Port the same terms as its neighbor is sensible.
Here is what it does not change. The ballot language says the amendment "would not change the permitted use of the Port." It does not approve residential development at the site, and it does not approve any redevelopment of the Port. It changes one number, the maximum lease length. Every lease would still go through the city administration and City Council. The amendment does not hand anyone a blank check. It lets the city negotiate from a stronger position.