Homestead, Fla., city commissioners have agreed to give Wayne Rosen, owner of Shores Development, the loan to renovate the golf course, which he bought and closed last year. The loan, which is meant to spur economic activity that helps low- or moderate-income residents, still needs to be approved on the federal level.
Homestead, Fla., city commissioners have decided to loan Wayne Rosen, owner of Shores Development, $3.5 million in federal funds from the U.S. Department of Housing and Urban Development to rebuild Keys Gate Golf and Country Club, which he bought and closed last year. HUD’s program, called Section 108, is meant to spur economic activity that helps low or moderate-income residents, the Miami-based New Times reported.
The commissioners voted 4-2 on December 8 to hand the money to Rosen, who is also a major campaign funder for most of the politicians on the panel. Rosen told the Miami Herald over the weekend that there was nothing wrong with using HUD money earmarked for re-invigorating downtrodden communities on his greenways.
The project in the Keys Gate neighborhood, an enclave where Shores Development is an active builder, will create jobs that will help Homestead residents in less well-off parts of town, Rosen says. “We’re going to work hard to help train employees and will be advertising in the Homestead area,” Rosen told the Herald.
Of course, the feds will still have to sign off on the plan, which may be a tougher sell outside of a city commission, the Times reported.