Item Q16BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: February 20, 2008
Bulk Item: Yes No X
Division: Growth Management
Department:
Staff Contact: Lisa Tenn
AGENDA ITEM WORDING: A public hearing to consider an amendment to the Land Development
Regulations for Monroe County concerning a lawfully established and equitably vested resale price for
deed restricted affordable housing; revising section 9.5-4 to define the lawfully established and
equitably vested resale price to be applied to sale and re -sale prices of deed restricted affordable
housing.
(Staff requests that this item be continued to the March BOCC meeting in Marathon)
ITEM BACKGROUND: Monroe County has encouraged the building of affordable housing with
impact fee relief, building permit fee relief and other incentives. Such incentives and market prices may
dictate that lower prices accrue to the initial purchasers of affordable housing than the allowed price
under the affordable housing price restrictions. This regulation will assure that whatever the initial sale
price, the profit on future sales is limited to a certain percent (2.5%), and the benefit of affordable
housing prices inures to subsequent purchasers.
PREVIOUS RELEVANT BOCC ACTION: None
CONTRACT/AGREEMENT CHANGES: None
STAFF RECOMMENDATIONS: Approval
TOTAL COST: N/A BUDGETED: Yes No
COST TO COUNTY: SOURCE OF FUNDS:
REVENUE PRODUCING: Yes No x AMOUNT PER MONTH Year
APPROVED BY: County Atty X OMB/Purchasing Risk Management
DOCUMENTATION: Included X Not Required
DISPOSITION: AGENDA ITEM #
Revised 11/06