The City of Largo's application cycle is open on an ongoing basis for its Affordable Housing Development Program as long as funding is available.  Please see the "How to Apply" section below.  

General Information
The Affordable Housing Development Program is designed to provide incentives and supplemental funding sources to foster the creation/rehabilitation of affordable housing, via Owner-Occupied Affordable Housing Development and Rental Affordable Housing Development.

This program supports the development of affordable housing in a manner that ultimately passes the savings on to the occupant (homeowner or renter) to reduce housing costs. Largo understands that most development in this urbanized area comes through redevelopment, which often has an increased cost that limits the private sector from redeveloping parcels independently. In addition, this program supports redevelopment projects for affordable housing through land use incentives and supplemental funding to enable these projects to come to fruition. Projects incorporating sustainability measures into design, construction, and utilities are encouraged, to reduce household utility and insurance costs and protect against disaster.

For developers looking to complete an application, the application is available through the Neighborly Software Portal. Note: If you have a login with another jurisdiction, you have to use this link and register the first time for Largo's Neighborly Software Portal.

If you have questions about the application, please call 727-586-7489 Ext. 7212 or email [email protected]

Program Overview

Affordable Housing Development Incentives
  • Affordable Housing Density Bonuses
  • Expedited Permitting
  • Alternative Development Standards (Transfer of Development Rights, Zero Lot Lines, etc.)
  • Project Financing Eligible Items
Financial incentives offered by the City to the developer will be based on funding availability and the amount of local (City) funding required to make the project come to fruition. Due to limited funding, the City strongly recommends leveraging additional funding sources as part of the request to the City of Largo.
Funding Sources
  • Federal Funding: Community Development Block Grant (CDBG)
  • State Funding: State Housing Initiatives Partnership (SHIP)
  • Other local/County funding as available
  • NEW!  American Rescue Plan Act (ARPA) Fund
Income Ranges for Residents
  • At or Below 30% of Area Median Income (AMI)
  • 30-50% of AMI
  • 50-80% of AMI
  • 81-120% of AMI (Limited funding in this category/Owner-Occupied development only)
  • Multi-unit developments may incorporate market-rate units – City funding would contribute toward affordable housing units
Selection Criteria
  • Capacity and capability to carry out the project
  • Experience in completing affordable housing projects;
  • Funding availability and funds leveraged from other sources
  • Income ranges served and affordability of units
  • Past performance and timeframe for project completion
  • Use of green building and disaster hardening features/techniques
  • If developer employees personnel from the Welfare Transition Program as part o the project
  • All projects must be able to conform with regulations of the funding sources
Additional Incentives
To find out more about the potential affordable housing density bonuses and expedited permitting, please contact the City of Largo’s Housing Manager at [email protected] or 727-586-7489 Ext. 7212.

Owner-Occupied Affordable Housing Development

Project financing eligible items
  • Land Acquisition
  • Site Clearance/Demolition
  • Impact Fees/Development Fees
  • Rehabilitation/Construction Financing
  • Site-Specific Infrastructure Costs
Program guidelines
  • Maximum $260,000/unit (may also be limited by funding available)
  • Deferred 0% interest loan payable from the sale proceeds of the home
  • Loan period shall not exceed two years
  • The housing unit must be sold to an income-eligible first-time homebuyer
  • The sales price must be set at the lesser of the appraised value or the City of Largo's Maximum Purchase Price
    • CDBG-Funded: $278,000
    • SHIP-Funded: $349,525
  • If total project costs exceed the post-construction appraised value and consequent sales price of the home(s), the cost in excess of the sales price may be forgiven by the City.
  • Homebuyers through this program are eligible for up to a $55,700 Homebuyer Assistance Loan to assist with the downpayment.  This loan has 0% interest and is deferred for 20 years.
  • A shared equity provision must be included in the Mortgage and Note to the homebuyer whereby the City shall receive 100% of the appreciation portion of the sales price if the homeowner sells in the first years. The shared equity percent drops by 10% every year for 10 years. The homeowner may request the City waive this provision if the home is re-sold to an income-eligible homebuyer for an amount not to exceed the City’s Maximum Purchase Price.

Rental Unit Affordable Housing Development

Project Financing Eligible Items
  • Impact Fees/Development Fees
  • Infrastructure Expenses 
  • Construction Soft Costs Directly Related to Housing Construction 
  • Acquisition Costs 
  • Rehabilitation costs 
Program Guidelines
  • Maximum $260,000 per unit (may also be limited by funding available)
  • Very-Low-Income (50% AMI) and Low-Income (80% AMI) Units Only
  • 0% interest loan for 30 years (30-year affordability period) or
  • 2% interest loan for 15 years (15-year affordability period)
  • Funding for units serving very-low-income households: deferred payment, forgivable loan after 30 years
  • Mixed-Income Housing – Maximum percentages of set-aside affordable housing units is described in the City of Largo’s Comprehensive Development Code (Code).  The Code also describes locational criteria for Low Income Housing Tax Credit Developments
  • Must have quality design and comparable unit distribution throughout the complex
  • Monthly rental payment must not exceed State Housing Initiatives Partnership (SHIP) Rent Rates
  • Annual certification of tenant eligibility and unit affordability must be provided
  • If the property is sold before the 15-year period expires, the first right of refusal must be offered to eligible non-profit organizations that would provide continued occupancy for eligible persons
Density bonus incentives may also be available.

Land disposition

City-Owned Property for Sale/Donation for Affordable Housing
If the City owns property that is deemed surplus land and suitable for affordable housing, properties available for sale or lot donation will be listed here.  

The City uses a Request for Qualifications process to select a developer for these sites.  Any notices regarding the Request for Qualifications will be posted on the City's Housing Division website under Public Notices

Current Lots for Donation:

Population Size


Largest City in Tampa Bay

Acres of Park Land


Largo Businesses