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Fort Myers Community Redevelopment Agency closed on a Revolving Housing Loan available within two key redevelopment areas. The sixth project financed through the Revolving Loan Fund is for the construction of affordable housing in the Dr. Martin Luther King Jr. Boulevard redevelopment area. The fund was created to promote the creation, rehabilitation and conservation of workforce housing and offers flexible terms for mission-aligned developers and investors. Loan amounts range from $100,000 to $1 million for projects within the Cleveland Avenue and Dr. Martin Luther King Jr. Boulevard area. In addition to funding, city partner Catalyst Community Capital provides technical assistance and mentorship to developers utilizing the fund. It is to be used exclusively for the purpose of supporting developers seeking to construct housing targeting individuals who make 100% or less of the Area Median Income. The program primarily targets smaller projects, including single-family homes and multifamily properties with less than 40 units. 

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