Item C4
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: March 22, 2001
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of a resolution authorizing the conveyance of property in Maloney
subdivision to the Monroe County Housing Authority.
Item Background: This conveyance is proposed to assist in the provision of affordable housing.
The subject property consists of nine vacant lots on Fifth Avenue in Maloney subdivision on Stock
Island purchased by the Land Authority several months ago. The Monroe County Housing Authority
(MCHA) proposes to develop this site with single-family or duplex rental units as part of the scattered
site affordable housing initiative. As a condition of the Land Authority's conveyance, the property will be
permanently restricted for occupancy by persons having household incomes of 100% or less of the
county median (currently $49,300 per year) and otherwise qualifying under MCHA's affordability policy
and Monroe County regulations. Rents will not exceed 30% of the applicable household income
category. Based on the current income statistics for Monroe County, maximum monthly rents will be
$1,230 for median income families, $986 for low income families, and $616 for very low income families.
The actual rents may be lower, depending on the availability of other grant funding.
Advisory Committee Action: On February 26, 2001 the Advisory Committee voted 5/0 to approve
conveyance of the property.
Previous Governing Board Action: On November 22, 2000 the Board approved the purchase of this
property.
Staff Recommendation: Approval
Total Cost: $ NIA
Budgeted: Yes X
No
Cost to Land Authority: $ NIA
Approved By: Attorney X
OMBIPurchasing
Risk Management
Executive Director Approval:
~'&:h
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #4
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING
THE CONVEYANCE OF PROPERTY IN MALONEY
SUBDIVISION TO THE MONROE COUNTY HOUSING
AUTHORITY FOR THE PURPOSE OF PROVIDING
AFFORDABLE HOUSING.
WHEREAS, section 380.0666(3), Florida Statutes (FS) and section 9.3-2, Monroe County Code,
empower the Monroe County Comprehensive Plan Land Authority (hereinafter "Land Authority")
to acquire an interest in real property for the purpose of providing affordable housing to very low,
low, and moderate income persons as defined in section 420.0004, FS, where said acquisitions
are consistent with a comprehensive plan adopted pursuant to Chapter 380, FS; and
WHEREAS, on June 15, 2000, the Land Authority Governing Board adopted Resolution 04-
2000 pertaining to Monroe County Housing Authority Plan 2000, which includes the strategy of
scattered site single-family and duplex rental housing as a means of providing long-term
affordable housing in a manner consistent with the community character of the Keys; and
WHEREAS, as a means of implementing the scattered site rental strategy, Resolution 04-2000
calls for the Land Authority to purchase vacant subdivision lots and convey same to the Monroe
County Housing Authority, subject to deed restrictions addressing affordability requirements;
and
WHEREAS, the Land Authority has acquired Block 53, Lots 32-40, Maloney subdivision (PB 1-
55) as an affordable housing site (hereinafter "subject property"); and
WHEREAS, the Monroe County Housing Authority requests that the Land Authority convey the
subject property to MCHA and allow MCHA to develop the property with affordable housing; and
WHEREAS, the Land Authority Advisory Committee considered this resolution at a meeting held
on February 26,2001 and voted 5/0 to recommend approval; NOW, THEREFORE,
BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY:
Section 1. The Chairman of the Land Authority Governing Board is hereby authorized to sign a
deed conveying the subject property consisting of Block 53, Lots 32-40, Maloney subdivision
(PB 1-55) to the Monroe County Housing Authority.
Section 2. Future use of the subject property is limited to residential development for occupancy
by very low, low, or moderate income persons as defined in section 420.0004, Florida Statutes,
and as further restricted by Monroe County regulations and the Monroe County Housing
Authority rental affordability policy in Attachment A. Notwithstanding the 50-year affordability
period in the Housing Authority affordability policy, this deed restriction shall not expire and may
only be released by the Land Authority.
Page 1 of 2
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this day of 2001.
(Seal)
ATTEST:
Mark J. Rosch
Executive Director
Approved for Legal Sufficiency
Larry R. Erskine
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
Nora Williams
Chairman
Page 2 of 2
ATTACHMENT A
DEED RESTRICTIONS
The property shall be developed with affordable housing for very low, low, or moderate income
persons as defined in section 420.0004, Florida States, consistent with the following policies of
the Monroe County Housing Authority:
1. Income targeting shall be at 80% of median adjusted for family size. Income targeting may
increase to 120% to maintain occupancy level and financial feasibility but not to exceed 40%
of project units.
2. Rental rates shall be the same as the HC Program as adjusted annually.
3. The compliance requirements shall be the same as the HC Program as contained in the
FHFC Compliance Manual and shall be the responsibility of the developer to insure
compliance annually.
4. The program requirements for the HC, MRB, SAIL, and HOME programs when competitively
obtained require lower income targeting (rents), which take precedence when utilized.
5. The US Department of Housing and Urban Development occupancy requirements (family
composition) shall be adhered to, as they pertain to maximum occupancy only.
The above restrictions shall not expire and may only be released by the Monroe County
Comprehensive Plan Land Authority.
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