10/4/2026
Joelle sent several questions to Councilman Gerdes and received answers from the City last week. Those answers have raised additional questions.
This group of questions concerns public financing, including whether Porter has requested funding for Phase 2 and whether the developer could seek additional public assistance if a funding shortfall develops during Phase 1.
| Can Porter request funding again for Phases 2 and 3? What guidelines and parameters would apply? |
| City response: The City has an open application process for funding requests to support affordable and workforce housing projects. A developer can apply at any time. Additional details on the criteria used to evaluate proposals are included below. |
| What is the application timeline? |
| City response: Applications for funding are typically accepted at any time. |
| Has Porter already requested funding for Phase 2? |
| City response: No. |
| When may Porter request funding for Phase 2? Must Phase 1 be completed first? |
| City response: No, but the City does not currently have any funding sources available that could fund future phases. That could change from year to year. As funding availability changes, application processes may also change. Some funding sources require competitive procurement, in which case applications may be accepted only during a specified period. |
| Is City Council planning to provide additional funding for Phases 2 and 3? How much might be allocated? |
| City response: There is currently no request for Phase 2 or Phase 3. Without a request and the specific details surrounding it, the City cannot predict what action Council may or may not take. |
| How does the City evaluate applications for housing-development funding? What criteria or rubric are used? |
| City response: Applications are evaluated using multiple criteria, including project location, developer experience, proposed density and affordability, development and operating pro formas, credit underwriting, proposed funding sources and uses, requested subsidy, proposed affordability period and other factors specific to the development. Each funding source may have additional requirements, and applications are evaluated individually. |
| Why did City Council fund this development instead of giving greater priority to lower-risk projects devoted more fully to low-income housing? |
| City response: City Council evaluates funding proposals and awards funds with the goal of developing affordable and workforce housing throughout St. Petersburg while obtaining the best risk and reward for residents. Funding is not provided before a project secures the financing needed to succeed. A financial closing is held with all participating parties, and public money is disbursed according to completed milestones, invoices and photographs of the work. Affordable-housing projects must demonstrate adequate financing for construction and operations throughout the affordability period. |
| Will residents be notified when funding for Phases 2 or 3 is discussed? |
| City response: The City posts Council calendars, meeting agendas and supporting materials in advance. If a future funding request is considered by City Council, it will be posted for public awareness and participation. |
| What is the schedule for disbursing the City’s $6 million and the County’s $5.25 million commitments? |
| City response: City funding is provided as reimbursement for eligible construction costs. The developer submits draw requests with the required documentation, which City staff review before releasing funds. The respondent could not speak to the County’s process. |
| What documentation and inspections are required before public funds are released? |
| City response: The City requires invoices, partial lien releases and American Institute of Architects draw forms containing certifications from the developer and architect of record. Draw forms must show the amount requested and the portion paid by each funding source. The City also conducts regular site visits and draw inspections to document progress. |
| Are the City’s regular construction-inspection reports public records? How can residents obtain them? |
| City response: A public-records request for specific project records may be submitted at any time through the City Clerk’s office. |
| Must the developer report construction-cost increases, financing deficiencies or projected funding shortfalls? |
| City response: The developer must communicate in a timely manner any project-related issue that may affect costs, schedules, milestones or outcomes. |
| If a funding gap develops, would the City or County necessarily know about it? |
| City response: If the developer cannot resolve a funding gap, it should become evident in the project financial records reviewed with each draw request. |
| If the developer requests additional City or County assistance, how and when would the request become public? |
| City response: Any additional City funding request would be handled like other funding requests and publicly noticed through a City Council agenda. |
| Would additional funding require a City Council or County Commission vote and public notice, allowing residents to comment or object? |
| City response: Yes. |
| What protections in the existing agreements keep taxpayers from becoming responsible for construction-cost overruns? |
| City response: No additional funding is guaranteed. Any new request would be considered by City Council with an opportunity for public input. |
Important: Porter has not requested City funding for Phases 2 or 3. However, the developer may apply at any time, and completion of Phase 1 is not required before submitting another request. Any future City funding request would require public notice and consideration by City Council.
