Final Notice and Public Explanation
of a Proposed Activity in a 100-Year Floodplain

To: All interested Agencies, Groups and Individuals

Arcadis, in conjunction the Florida Housing Finance Corporation (FHFC), has analyzed the project identified below. The proposed project will consist of an affordable housing development for seniors to be constructed in Pasco County that is located within a 100-year flood plain.

Name of Project: Ekos at Bayonet Point II
Programs: HOME Investment Partnerships American Rescue
Plan Program (HOME-ARP)
To be Located at: 13821 Lakeshore Boulevard, Hudson, Florida
34667
Project Description: The proposed Ekos at Bayonet Point II is a 120-unit attainable housing development for residents aged 55 and older, located in Pasco County, Florida. The project is being financed through 4% noncompetitive Low-Income Housing Tax Credits (LIHTC) and tax-exempt bonds, providing much-needed affordable housing for seniors with an average household income at or below 60% of the Area Median Income (AMI). The Ekos at Bayonet Point II follows the successful closing of Ekos at Bayonet Point I, a 114-unit senior housing development that secured financing in the second quarter of 2025 and is currently under construction, with completion anticipated in the third quarter of 2026. Both developments are part of a Master Planned Unit Development (MPUD) designed to deliver a total of 360 attainable housing units in Pasco County. The third phase of the MPUD is currently in the design and permitting predevelopment phase, further expanding the impact of this coordinated effort to meet the growing housing needs of the area’s senior population.

This is to give notice that Arcadis, in conjunction with FHFC has conducted an evaluation as required by Executive Order 11988, as amended by Executive Order 13690, in accordance with HUD regulations at 24 CFR 55.20 Subpart C Procedures for Making Determinations on Floodplain Management, to determine the potential affect that its activity in the floodplain will have on the human environment for the project/activity described above and further detailed as follows: This action is located within Flood Zone AE (EL 11 Feet) (1% chance of annual flood event), in accordance with Flood Insurance Rate Map Panel No. 1201C0177G, effective 6/5/20.

The Ekos at Bayonet Point II project site was selected based on the following criteria:
The project will provide 100% elderly housing units, targeted at households earning at or below 80% of the Area Median Income (AMI), with the majority of units targeted at 60% AMI or below.
The development is designed to ensure no displacement of existing residents, as it will be constructed on a vacant subdivided parcel adjacent to Ekos at Bayonet Point Phase I.
The project must be affordable and is expected to meet all eligibility criteria to qualify for LIHTC, supporting long-term affordability for seniors.
The project received competitive funding through the 2024-205 Florida Housing Finance Corporation (FHFC) application cycle, meeting all applicable RFA requirements and selection thresholds. Including the commitment for the building to achieve its Green Certification Status under the National Green Building Certification.
The site was selected based on its suitability for development and its location within a neighborhood that can support affordable multifamily housing, including proximity to transit, health services, retail, and continuing to address the affordable housing needs in Pasco County.

In evaluating potential project sites, the development team considered and assessed a range of alternatives. The selection process prioritized the following:
Natural values, including topographic conditions, flood hazards, and existing site characteristics such as vegetation and site access.
Social values, including compatibility with surrounding land uses, visual and community character, market study analysis and community outreach.
Economic values, including cost-efficiency in site development, infrastructure availability, and the avoidance of relocation or displacement costs. The multi-phased development allows for economy of scales between the phases for design and construction cost.

Ekos at Bayonet Point II will be constructed on a subdivided portion of the original Ekos at Bayonet Point parcel, adjacent to the Phase I site and located within the same flood zone area. The proposed site is surrounded by existing residential and commercial development, with public infrastructure and roadways already in place. As with Phase I, the detailed market study and site investigation has confirmed that the selected parcel is suitable for multifamily senior housing development and consistent with the project’s goals to provide high-quality, affordable housing for the elderly population in Pasco County. It is understood that the natural state of the floodplain is beneficial for groundwater recharge, supportive of plant and animal species, and has value as a cultural resource. None of the proposed activities is expected to negatively affect these benefits because the site structures will be elevated by a minimum of one foot above the Base Flood Elevation (BFE) and have a footprint designed to minimize these impacts. Although the project lies within a mapped 100-year floodplain, the development will mitigate flood risk through elevation and design measures, consistent with applicable federal and local policies. As with Phase I, the buildings will be constructed to meet or exceed the standards outlined in Pasco County Comprehensive Plan Policy DGR 5.1.13, which requires finished floor elevations to be a minimum of one (1) foot above the BFE. The proposed Finished Floor Elevation (FFE) is +12.0’ NAVD, which exceeds the BFE of 11 feet. This elevation standard will reduce flood risk and ensure compliance with local building and floodplain management regulations. In support of this elevation strategy, the development team will pursue a Conditional Letter of Map Revision (CLOMR) during the design phase and will obtain a Letter of Map Revision (LOMR) upon project completion to reflect the changes in base flood elevations and floodplain boundaries due to site grading and fill.

Therefore, it was determined that the proposed project location of the Ekos at Bayonet Point II development is most suitable to meet the project goals and objectives and there were no practicable alternatives identified that exist outside of the floodplain that would meet the development’s goals, financial feasibility, proximity to services, and existing entitlements. The No-Action alternative was considered and rejected because of the need for senior, affordable housing within the project area. The proposed project would provide the housing needed in a location that is very desirable for affordable housing, as documented in the market study that was prepared for the project.

Arcadis and FHFC have reevaluated the alternatives to building in a floodplain and have determined that there is no practical alternative. Environmental files that document compliance with steps 3 through 6 of Executive Order 11988 are available for public inspection, review, copying, upon request at the times and location delineated in the last paragraph of this notice for receipt of comments. This activity will have no significant impact on the environment for the reasons indicated above.

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. Commenters are encouraged to offer alternative sites outside of the floodplain, alternative methods to serve the same project purpose, and methods to minimize and mitigate project impacts on the floodplain. 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 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 a greater or continued risk.

Any individual, group, or agency may submit written comments on the ERR to the Florida Housing Finance Corporation, 227 N Bronough St, Suite 5000, Tallahassee, FL 32301, Attention: Ms. Angeliki Sellers or via e-mail at ERRComments@floridahousing.org. All comments received by September 22, 2025, will be considered by the FHFC prior to authorizing submission of a request for release of funds. Comments should specify which Notice they are addressing.

Date: September 14, 2025 54815b