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In the money: The Housing Authority of the city of Fort Myers recently received a $9.4 million loan from the state it will use to help build a 92-unit affordable multifamily community on Cleveland Street. The money came from the Florida Housing Finance Corp. in the form of a State Apartment Initiative Loan. The SAIL program, as it’s called, provides low-interest loans to bridge the cost between a development’s financing and its real cost. The complex is part of the Greater Dunbar Initiative, a $97.8 million revitalization of the Southward Village public housing community. According to the housing authority, the plan is to increase resources, amenities and economic opportunities in the community. Along with the apartment complex, there will be 375 new mixed-income apartments with 159 reserved for current residents.
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