Item Q15BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
ADD ON
Meeting Date: June 21, 2006 Division: County Attorney
Bulk Item: Yes xx No Department: CmLnly Attorney
Staff Contact Person: Bob Shillinger x3470
AGENDA ITEM WORDING:
Authorization for County Attorney's office to take whatever steps necessary to protect County's
interest in property that is the subject of Accredited Home Lenders, Inc. v. Olga L. Ruiz, Monroe
County. et al., CA K 06-543 including working with the Monroe County Housing Authority to acquire
the property for affordable housing.
ITEM BACKGROUND:
The County loaned Olga Ruiz $36,000.00 for a SHIP mortgage in 2001. In 2005, Ms. Ruiz paid off her
first mortgage and refinanced with Accredited. She has purportedly defaulted on the mortgage with
Accredited. The two mortgages total less than $200,000.00. The Housing Authority has the funds
available to acquire the single family home on Big Pine. It would then offer the property for sale with
an affordable housing deed restriction at a price that would, at a minimum, cover the costs incurred.
The County Attorney's office is seeking authorization to foreclose on the SHIP mortgage held by the
County and work with the Housing Authority to acquire the property for affordable housing purposes.
This item is being added on due to the time sensitive nature of the issues involved. The proposal to
acquire the property arose after the agenda deadline for the June 21 ' meeting.
PREVIOUS RELEVANT BOCC ACTION: N/A
CONTRACT/AGREEMENT CHANGES: N/A
STAFF RECOMMENDATIONS: Approval.
TOTAL COST: Up to $200,000.00 BUDGETED: N/A
COST TO COUNTY: Same SOURCE OF FUNDS: Housing Authority
REVENUE PRODUCING: Yes _ No xx AMOUNT PER MONTH N/A Year N/A
APPROVED BY: County Atty xx OMB/Purchasing Risk Management _
DIVISION DIRECTOR APPROVAL: l6
qE A. HU TON, COUNT A TORNEY
DOCUMENTATION: Included Not Required X To Follow
DISPOSITION: AGENDA ITEM #
Revised 2/05