Item I1BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: February 20, 2008 Division: Housing & Community Development
Bulk Item: Yes _ No X Department: Housing & Community Development
Staff Contact Person/Phone #:Re22ie Paros. x6002
AGENDA ITEM WORDING: Consideration of a request from the Middle Keys Community Land
Trust (MKCLT) to utilize funds available within the Monroe County affordable and employee housing
fair share impact fee trust fund for the purpose of paying impact fees in the amount of $53,655 due by
the MKCLT to the Village of Islamorada in relation to the development of Woods Corner, a 16-unit
affordable/workforce community located in Islamorada.
ITEM BACKGROUND: The MKCLT is developing a 16-unit affordable/workforce community,
Woods Corner, located at 281 Woods Avenue, Islamorada. Impact fees in the amount of $53,655 are
due by the MKCLT in relation to the development and must be paid to the Village of Islamorada
before Certificates of Occupancy will be issued.
The Monroe County Workforce Housing Task Force has endorsed a recommendation to the Monroe
County Board of County Commissioners for the utilization of trust funds for this purpose and for such
funds to be paid back by the MKCLT to Monroe County within 12-months.
The Islamorada Village Council in a 5-0 vote on January 24, 2008 pledged $53,655 as it becomes
available in the Islamorada Affordable Housing Funds to the MKCLT for the purpose of repayment of
that amount to the Monroe County trust fund by the MKCLT.
Additional information in this regard is included in the attached documentation.
PREVIOUS RELEVANT BOCC ACTION: None
CONTRACT/AGREEMENT CHANGES: n/a
STAFF RECOMMENDATIONS: Discussion and direction to staff
TOTAL COST: $53,655 BUDGETED: Yes X No
COST TO COUNTY: $53,655 SOURCE OF FUNDS: Affordable/Employee Housing
Tnist Fund
REVENUE PRODUCING: Yes No X AMOUNT PER MONTH Year
APPROVED BY: County Atty Pending OMB/Purchasing Pending Risk Management
DOCUMENTATION:
DISPOSITION:
Revised 11/06
Included X Not Required
AGENDA ITEM #
■
MIDDLE KEYS
COMMUNITY LAND TRUST
February 3, 2008
Monroe County
Housing and Community Development
94000 Overseas Highway, Suite 200
Marathon, Florida 33050
Attention: Reggie Paros, Director
RE: Monroe County Affordable Housing Trust Fund
Dear Mr. Paros:
n"
HAND DELIVERY
As you are aware, on January 18, 2008 the Monroe County Workforce Housing Task Force has
discussed and endorsed a recommendation to the Monroe County Board of County
Commissioners (BOCC) that funds currently available within the County's Employee Housing
Impact Fee Trust Fund Affordable Housing Fund to be utilized for the purposes of paying impact
fees ($53,655) due by the Middle Keys Community Land Trust (MKCLT) to the Village of
Islamorada in relation to the development of Woods Corner, a 16 unit affordable/workforce
community located at 281 Woods Avenue, Islamorada. The Committees recommendation was
contingent upon recovery of the funds by Monroe County within one year.
At its regular meeting of January 31, 2008, the Islamorada Village Council unanimously agreed
to commit the initial $53,655 received into the Villages recently created Affordable Housing
Trust Fund directly to the MKCLT for the purpose of repaying any obligation Monroe County.
Therefore, we would like to request the Monroe County Board of County Commissioners
consider the recommendation of the Monroe County Workforce Housing, Task Force to commit
existing funds, restricted to supporting affordable housing, that have long been available and
never previously request by anyone to this important project. Further, we ask that the staff work
in cooperation with the County Attorney to determine the appropriate means and language to
accomplish the objective intended by the County's Workforce Housing Committee
P. Q. Box 500194, Marathon, Florida 33050
305, 743. 5624
The Woods Corner community is a sixteen unit townhouse community for low and moderate
income persons and families. Each unit is 1,360 sq. ft. and contains 3 bedrooms and 2.5 baths
and includes features such as ceramic tile flooring, "keys" metal roofs and haridplank exterior
lap siding, front porches and rear decks. Eight units are reserved for low-income (80% of
median) persons/families and will be sold for $130,500. Eight units are reserved for moderate -
income (120% of median) persons/families and will be sold for $190,000.
Further, the properties are subject to a resale price restriction that is intended to provide the
buyer the ability to accrue some equity on their investment, while ensuring a modest future sales
price for the benefit of future buyers and the community.
We believe utilizing these funds in the manner described have multiple benefits; the direct
support to a non profit developer, local homebuyers and a quality development; the provision for
the future recovery of these funds to provide future benefit for affordable housing activities; and
the cooperative sharing of public resources throughout the Keys community, regardless of
political boundaries;
Sincerely,
7
Richard Casey, Jr.
Administrator
Cc: Josh Mothner, President, MCKLT
Lisa Tennyson, Monroe County Affordable Housing Coordinator @ (305) 292-4544
Jerry Coleman, Attorney, MC Workforce Housing Task Force @ (305) 296-6200
Ed Koconis, Interim Village Manager, Islamorada @ (305) 664-6464
PaL,c 1 o C 1
From: lave boerner Idavc.l}otrntr(u IsIaniorada.11.its
l
Sent: Friday, January 25, 2008 1 1 :47 AM
To: Devane-Stacy
Cc: gary word:. e&vard koconis: nbonisko. ii wsh-Low.com: beverly raddata_ keylawein;c� hclltit,t�tli.nct
4ul3;ect: PIedbe of Islamorada Affordable 1-InusinLI, 1'Lind5 to, MKC L I-
Importance: 1ligh
Stacy.
The Islamorada Village Council in a 5-0 vote last night pledged $53.655 as it becomes available in the fslamorada
Affordable Housing Fund to the Middle Keys Community Land Trust (MKCLT) for the purpose of repayment of a
loan to be made between the MKCLT and the Monroe County Affordable Housing Fund for payment of the impact
fees on the 16 new deed -restricted affordable housing units at the Woods Corner development. In addition, the
pledged funds will be provided to the MKCLT on a first -in, first -out basis as soon as any funds are accumulated in
our Affordable Housing Fund for the MKCLT's continuing paydown on the loan. This is as per my presentation to
the Monroe County Workforce Housing Task Force on January 18, 2008 and agreed upon by the MKCLT through
Rick Casey, and is in anticipation of the total funds becoming available through our Inclusionary Zoning
Ordinance requirements by later this year, but not guaranteed by Islarrorada, Village of Islands. As agreed upon,
the sole purpose of our pledge of first available future funds from our Affordable Housing Fund is to provide a
means of revenue to the MKCLT for the repayment of the loan; and the sole purpose of Monroe County's loan of
the funds from the Minty's Affordable Housing Fund is to provide a short term loan to the MKCLT to enable the
trust to pay the usual and standard impact fees due on each of the 16 new units at Woods Corner. The
guarantee of repayment of the loan within the 12 months stipulated by the Monroe County Workforce Housing
Task Force shall be exclusively the responsibility of the MKCLT.
For any additional clarification on this agreement and to work out the technical details, please contact:
Gary Word, Village Manager
Ed Koconis. Director of Planning and Development
Nina Boniske, Village Attorney
It is always a pleasure working with the county and the BOCC in support of affordable housing for the residents of
Monroe County and i wish to express the appreciation of the Village of Islamorada to the Monroe County Board of
County Commissioners and staff in enabling this opportunity to the MKCLT to further their efforts in providing
affordable housing in Monroe County and the Village. Please relay this message to all interested and involved
parties with Monroe County, the MKCLT and the Workforce Housing Task Force.
Dave Boemer, Mayor, Islamorada, Village of Islands
Member, Monroe County Workforce blousing Task Force
cc: Gary Word, Village Manager
Ed Kocanis, Director of Planning and Development
Nina Boniske, Village Attorney
Beverly Raddatz, Village Clerk (fordistribubon)
Deb Gillis, Chairwoman, Islamorada Workforce Housing Task Force
fiic:!!C':`,13oLur�lents and ` cttin�s\ Temporary Interim l'iles''01K... 2/5/2008
M11)1)1-F KEYS (10M11IJN(TY LAND TRUST, INS:'.
N 1 I �()X 500194
MAICATI ION, I Lt-?RII )A ' 3050
,I.1nUarj: 21. 2008
Village of lslamorada
PO Box 56,9
I lamnracitl. Florida 33036
Attention: Deb Gillis. Chairman. Worklnrco I lousing Committee
Dear Ms. Gillis:
The Monroe County Workfurec: I lousing Conlniittec last LvcCk ageed to recommend to the
Monroc County Board of County Commissioners, that funds in the amount ol-$531.655 from the
County Affordable 1 lousino Trust fund be pro-vided to the Middli; Keys; Community Land 'l'rust.
['llesc funds would be For the specific purpose of nlaking payment to the Village of- Islanlorad,
IUr impact fees due related to the Woods Corner worktorce 11OLrS1111 C.0111munity. The BOCC will
hear this item on February 20. 2008-
This his recOnillielldation is subject to the Villaoe's commitment to Lltilice the initial $53.655
received by the Village to 'its Alfordable 1101.1sing Trust funds to make payinent to the Middle.
Keys Community Land "I rust for the specific purpose of'repayin,,, funds advanced by the County.
The County's Contrnittee has rccc�lnrnendcd that all funds shall he repaid to the County within
ollc year of the advance. As a result.. MKC't,'1' w(.)uld be solely responsible to make payment of
arty balance due by the rclraynlellt date. The Village Council is scheduled to hear this item at its
.tanuary 2)8, 2i708 nleetillg.
In Council di5CUSSlonS On tills matter on January 10, 2008, the ('ouncil seemed inclined to Lise
their trust fiord proceed,, for the payment o' Wo ods Corner Impact fees, but was reluctant to
spend funds other than those within the Affordahle Trust fund, which at tills time is zero.
Subject to appl-oval by tile_ BOC'C and the Middle Keys Community Land 'I rust colnrnilme:nt, we
would like to re ucst the ViIlat,_s of lslaniorada's Workf'Orce I lousing. Come litter. stlPt�orl Our
request to the Village to commit the initial $51.655 received to Islamora_da's Affordable I fousin�
'1'r-ust Fouled. he ledge t« pjay the Middy Keys C 1111lll1„ity Land I rLlst for the specific pu nsc
of_rllakiny repayment to Monroe ('curl. Thank you Jor considering this regUest. We
appreciate your continued support.
Sincerely-
Racald 6"1 �L-
Richard Casey, Jr.
Cc: lave Boe.rner. Mayor
Gary Word, Village Manager
Ed Koconis, Planning Director
UHI5 RE�QUFST WAS UNANIMOUSLY
ENDORSED BY THE VILLAGE
WORKFOR('F. IIOUOSIN(; COMMIT'ITE
ON JANUARY 22, 2008
MIi PLE KEYS C;OWOUN[`l-Y LAND TP ST, f
P) K()X 5001-j4
.1,1imary 18, 2008
t '4 iry \Vord_ V d la�-,e M�,:macer
Village of Islarttorada
N) Box 568
f4slamorad;4. 1- lorida 33030
RF1- IIII Pact 1 eeti at Woods UOI'Dej,
Dear Mr. Word:
Earlier today 11 oiiroe County's 1Vorkforce llouwing'lask Force considered and approved a
recoInniendatien) to Advance `1;53.655 ti-om one. ofthe. County's Ai`lOrdable I fousin2; Funds to the Middle
Key.5 Cummultity l:�lnd "l ru5t. 'l he tipccitic purl)e�se Oftl3I la:ndinI- to pay impact fer5 to the Vill�i-e of
Islamorada related to Woods Conner. This will be prey. -need to the Monroc. Comity
BOCC at their l.`chru-111'v 20, 2008 nteOHILI.
The I ask Force agreed to recommend fundin this reyuef subject to a�rcement by the VillaL-e to direct
the initial $53,0-55 received to its recei—i ly created f lousing) l rust. bond 10 %,IK{_'t.,T ii)r repayment 14.r the
County and that -ell funds shall be returned to the County within one year- As such. MKC1.T shall
guarantee and be solely responsible to Bind any arsiounts not prevlotiasly re:celved From Ldamorada wllhin
thc tint year repayment dead(ine.
Provided the C'nrntnittee; recommendation and c:ommliment 1, we would like to respectfully
request that the Village C'omiciI consider;) request to dedicate the initial S53,655 received into the.
Village',, Affordable 1 louyinq "l ru:A fund be reserved Ior pa) meat to NIKC:L'r tnr the specific purpose o!
repayijtg� funds advance to it by Monroe County For Wood's Corner -
Should you require any additional information, please tce.l free to gall me. 'W(: will he prepared to speak
to this item when it, 15 on the appropriate Council agenda.
""incerely.
;Z"41d �.�.
Richard Casey, Jr.
Administrator
cc: Dave Boerne.r. lslamorada Mayor
Ed Koconts, lslamorada Planning Director
Regoie Par(.r5. Motiroe County Oircctc�r of Housing and Commumly Developmei)t
Lisa Tennyson. Monroe County Aflordahlo. HOLISinri. Coord-m ator
.leery C:olemsn, PA {Attorney 16r MC I lousing Task I"orcc