Public review of a proposed affordable housing project in a floodplain.

Final Notice and Public Review of a Proposed Activity in a 100-Year Floodplain
To: All interested Agencies, Groups and Individuals
This is to give notice that Florida Housing Finance Corporation (FHFC) under 24 CFR Part 58 has conducted an evaluation as required by [Executive Order 11988 and/or Executive Order 11990, and in accordance with HUD regulations at 24 CFR 55.20
Subpart C Procedures for Making Determinations on Floodplain Management and Wetlands Protection. The activity is funded under U.S. Department of HUDs HOME Investment Partnerships Program (HOME). The proposed project known as Sovereign at Parkside East is located at 165 & 175 Parade Circle, Rotunda West, Unincorporated Charlotte County, FL. The purpose of this project is for the construction of an affordable multi-family development with 32 living units. The subject property is located within a 100-year floodplain. Existing natural and beneficial functions (e.g. floodwater storage and conveyance, groundwater discharge or recharge, erosion control, water quality maintenance, and habitat for flora and fauna) and intrinsic values (e.g. recreational, educational, scientific, historic, and cultural) of the floodplain/wetland potentially adversely affected by the activity]. 0.52 acres of the project site is located within a Special Flood Hazard Area (Zone AE), designated as a 100-year floodplain. The remaining 3.01 acres of the site is located in Zone X, outside the 100-year floodplain. The planned development will be partially funded under Florida Housing Finance Corporations Request for Application (RFA) Disaster Recovery to be used in
Conjunction with Tax-Exempt Bonds and Non-Competitive Housing Credits in Counties Deemed Hurricane Ian Recovery Priorities.
FHFC has considered the following alternatives and mitigation measures to minimize adverse impacts and to restore and preserve natural and beneficial functions and intrinsic values of the existing floodplain/wetland: Construction of the proposed project outside of the 100-year floodplain was deemed not practical given the nature of the surrounding area. Areas that are outside of the 100-year flood zone are either currently developed, unavailable, not cost effective or not within close proximity. The No-Build Alternative was eliminated because the purpose of the project would not be met. The proposed project will be in compliance with all state and local floodplain protection and
regulations. This activity will have no significant impact on the environment for the following
reasons: 1) Construction of the proposed project will take place in primarily developed area. No significant natural resources or habitats exist on or in the vicinity of the project area. In addition, the current property is undeveloped. 2) Rockledge, Charlotte County participates in the National Flood Insurance Program (NFIP) with the passage of the National Flood Insurance Act of 1968 and Community Rating System (CRS), an incentive program for the community to recognize and control floodplain management; 3) Charlotte County collects Federal Emergency Management Agency (FEMA) Elevation Certificates as a requirement of the building permits for home builders and developers, ensuring flood insurance is required, maintained, and controlled; 4) According to the developer, the proposed building elevation will be plus one foot above the base flood level, thus allowing the construction to have minimal effects on water
resources.
FHFC has reevaluated alternatives to building in the floodplain and has determined that it has no practical alternative to floodplain development. Environmental files
documenting compliance with [Executive Order 11988, and/or Executive Order 11990, and 24 CFR 55, are available for public inspection, review and copying upon request at the times and location delineated in the last paragraph of this notice for receipt of comments.
There are three primary purposes for this notice. First, people who may be affected by activities in floodplains and those who have an interest in the protection of the natural environment should be given an opportunity to express their concerns and provide information about these areas. Second, an adequate public notice program can be an
important public educational tool. The dissemination of information and request for public comment about floodplains can facilitate and enhance Federal efforts to reduce the risks and impacts associated with the occupancy and modification of these special
areas. Third, as a matter of fairness, when the Federal government determines it will participate in actions taking place in floodplains, it must inform those who may be put at greater or continued risk.
Written comments must be received by FHFC at the following address on or before April 17, 2026: Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, FL, 32301, Attention: Ms. Angeliki Sellers, Chief Financial Officer. A full description of the project may also be reviewed from the hours of 9:00AM to 4:00PM at the aforementioned address above. Comments may also be submitted via email at ERRComments@floridahousing.org. Comments are to specify which Notice they are addressing.
Publication Date: April 10, 2026
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