MALIBU BAY  PROPERTY
                                        South Florida Regional Planning Council
                                                       Revolving Loan Fund Grant
                    A Hole in  One for  Revolving Loan  Fund Program
     ADDRESS:           750 Malibu Bay Drive, West Palm Beach, FL  33401
     PROPERTY SIZE:      14 acres
     FORMER USES:        Golf course
     CURRENT USE:       Rental apartments for low and moderate income families
     EPA GRANT RECIPIENT:
     The South Florida Regional Planning
     Council provided $800,000 in EPA
     Brownfields Revolving Loan Fund
     funding to the Housing Trust Group
     of Florida, LLC.
PROJECT PARTNERS:
Housing Trust Group of Florida, LLC;
Housing Finance Authority of Palm Beach
County; Florida Department of
Environmental Protection; County of Palm
Beach; City of West Palm Beach
For additional data and
geographic information
for this and other
Brownfields Grants,
please visit EPA's:
Envirofacts -
www.epa.gov/enviro/

bms_query.html
Enviromapper -
www.epa.gov/enviro/bf
    PROJECT BACKGROUND:
    Since the beginning of 2004, the affordable housing market in West Palm Beach has been significantly decimated due
    to condominium conversions and hurricanes. The Housing Trust Group of Florida, LLC was able to provide one
    solution to this problem through the conversion of a former golf course  into much needed affordable housing. The
    Palm Beach Lakes Golf Course was closed in  1996  after almost 30 years of operation. High concentrations of arsenic
    in the soil, surface water, and ground water contaminated the property as a  result of many years of fertilizer,
    herbicide, and pesticide use. Funded by an $800,000 EPA Brownfields Revolving Loan Fund loan, cleanup activities
    began in December 2003 and  included the excavation and removal of contaminated soil. By February 2005, all cleanup
    activities were completed. Institutional controls in the form  of a deed restriction prohibiting the use of ground water
    for any purpose are required for the property.
    KEY ACCOMPLISHMENTS:
    •   Leveraged approximately $30 million  in public and private funding through sources
       such as revenue bonds, tax credits (low-income and voluntary cleanup), and a sales
       tax rebate
    •   Resulted in 264 multi-family apartments for low and moderate
       income families
    •   Considered a model in the State of Florida for the use of Voluntary Cleanup
       Tax Credits (VCTC)
    •   First brownfield affordable housing project to be funded by the Housing
       Finance Authority
    OUTCOME:
                                                  The completed Malibu Bay Apartments.
    In June 2004 redevelopment commenced on the Malibu Bay property and by fall 2005, 264 apartments became available
    for low and moderate income families. As of March 2007, the high-density residential development is completely rented
    with a waiting list. The project  has significantly spurred redevelopment nearby, including the construction of market rate
    condominiums and townhomes, retail shops, restaurants, and plans for a hotel and more residential development. As a
    result of the Malibu Bay development's success, housing organizations throughout the state are more willing to finance
    brownfields projects, including those with an affordable housing component.
   FOR MORE INFORMATION:  Visit the EPA Brownfields Web site at http://www.epa.gov/brownfields/ or call EPA Region 4 at (404) 562-8682

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