Resolution 041-2009
RESOLUTION NO. 041 -2009
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA,
EXTENDING THE DEFAULT DATE FOR THE SHIP
MORTGAGE ISSUED FOR WOODS CORNER.
WHEREAS, on July 23, 2007, the Board of County Commissioners of Monroe County
(County), Florida, executed a SHIP construction mortgage in the amount of $315,000 with the
Middle Keys Community Land Trust (MKCLT) for affordable housing at Woods Corner,
Islamorada, Florida; and
WHEREAS, the mortgage was due and payable on April 30, 2008; and
WHEREAS, MKCL T has obtained certificates of occupancy on some of the units but is not
prepared to write a check to the County for the amount of the construction loan; and
and
WHEREAS, it is anticipated that SHIP mortgages will be executed for each unit purchase;
WHEREAS, the SHIP budget has some administrative monies budgeted which could be
transferred through a companion resolution to cover the issuance of the individual purchase
mortgages until the construction mortgage is satisfied through checks to be issued by MKCL T at
each closing; and
WHEREAS, it is necessary to extend the due date on the construction loan mortgage in the
amount of $315,000 and recorded at OR Book 2310, Pages 1991 through 1995, or to find the
mortgagorindemutt;and
WHEREAS, the County has previously agreed to extend the due date on the construction
loan; and
WHEREAS, MKCLT needs additional time to complete the sales of the Woods Corner
units or face defautt;
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners of
Monroe County, Florida that:
Section I. The previously extended due date of January 31,2009, of the $315,000 SHIP
mortgage between the mortgagor Middle Keys Community Land Trust (MKCLT) and the
mortgagee Monroe County (County) is hereby extended to March 31, 2009.
Section 2.
This resolution shall be effective as of January 31, 2009.
Res Extend Due Date MKCLT SHIP Mtg
On Woods Comer to 3/31/2009
Page 1 of 2 Pages
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County,
Florida, at a regular meeting of said Board held on the 28th day of January, 2009.
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''''~~4. KOLHAGE, Clerk
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Mayor George Neugent
Mayor Pro Tern Sylvia Murphy
Commissioner Kim Wigington
Commissioner Heather Carruthers
Commissioner Mario DiGennaro
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BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
By: ~"..~.. 'r).,.",.,e.d-
Mayor/Chairman
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Res Extend Due Date MKCLT SHIP Mtg
On Woods Corner to 3/31/2009
Page 2 of 2 Pages
RI'JInLU'IlON NO. 504 - 2008
A RESOLUTION OF THE BOARD OF COUNtY COMMISSIONERS OF
MONROE COUNtY, FLORIDA, EXTENDING THE DEFAULT DATE Il'OR
THE SHIP MORTGAGE ISSUED Il'OR WOODS CORNER.
WBl:REAS, on luly 23, 2007, the Board of County Commissioners of Momoe County
(County), Florida, ex......Jted a SIDP coDBtrUction IDOI't8Iie in the amount of 1315,000 with the
MidcIle Keys Community Land Trust (MKCLT) fur aft'ordable housing at WoocIa Comer,
IsIamonda, Florida; and
WHEREAs, the mortgage was due and payable on April 30, 2008; and
WHEREAS, MKCLT baa obtained certit1cate8 of oceupancy on some of the units but is not
prepared to write a check to the County fur the amount of the conatruction loan; and
WHEREAS, it is anticipated that SIDP mortgages will be executed fur each unit purchase;
and
WHEREAs, the SIDP budget baa some administrative monies budgeted which could be
transferred through a companion raoJution to cover the i88Ul.DCe of the individual purchase
mortgages until the construction mof't81t8e is satisfied through checks to be issued by MKCL T at
each closing; and
WHEREAS, it is necessary to extend the due date on the constnJction loan IDOI't8IP in the
amount of $315,000 and recorded at OR Book 2310, Pages 1991 through 1995, or to find the
rnortgasor in deflwlt; and
WHERl:AS, the County previously asreed to extend the due date on the construction loan;
and
WHEREAs, MKCLT needs additional time to complete the sales of the Woods Comer
units or fiu:e default;
NOW THEREFORE BE IT RESOLVED by the BoIrd of County Commissioners of
Momoe County, Florida that:
Section I The previously extended due date of November 30,2008, of the $315,000 SIDP
mortgage between the mof't81t8or Middle Keys Community Land Trust (MKCLT) and the
.IIIOI't8a8ee Momoe C~ (County) is hereby ~ed to lamwy 31, 2009.
Section 2
This resolution shall be effective as of December 17, 2008.
Res ExlIInd Due DlII:e MKCLT SHIP to 2,132,109 1
Mtg an Woods Comer
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PASSED AND ADOPTED by the Board of Couuty Commisaio1llll'l of Monroe Coumy,
Florida, at a regular ...-i"B of Slid Board hold on the 17th day of December, 2008
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Mayor George Neugent
Mayor Pro Tem Sylvia Murphy
Commissioner Mario DiGeooaro
C(.\tnmi...ioner Kim Wigington
Commissioner Heather Carruthers
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BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
By: ~~ L~ >nol.A4.'~
Mayor
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ATTORNEY 1I Z-21 d ~
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R8B ExtIIlnd Due oae MKO. T SHIP to 1/31/09 2
Mtg on Woods eon-