Item L1
* REVISED BACK-UP *
. ,- BOARD OF COUNTY COMMISSIONERS
.
, AGENDA ITEM SUMMARY
Meeting Date: ~tember 16. 2009 Division: Monroe County Housing Authority
Bulk Item: Yes -L No - Department: Me SHIP Program
Staff Contact PersonIPhone #: J. Manuel Castillo. Sr.. Executive Director 296~5621
AGENDA ITEM WORDING:
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY,
FLORIDA APPROVING AN AMENDMENT TO THE 2008/200912010 LOCAL HOUSING
ASSISTANCE PLAN AS REQUIRED BY THE STATE HOUSING INITIATIVES PARTNERSHIP
(SHIP) PROGRAM, AUrnORIZlNG THE ADOPTION OF THE ~CITY OF KEY WEST IMPACT FEE
PROVISO FUNDING (IFP) STRATEGY" AND THE SUBMISSION OF TIm CITY OF KEY WEST
IMPACT FEE PROVISO FUNDING STRATEGY TO THE FLORIDA HOUSING FINANCE
CORPORATION.
ITEM BACKGROUND:
The City of Key West submitted an application to the Florida Housing Finance Corporation for
$2,000,000 for down payment assistance funding in DecembeJ;. 2008. The funding could only be
utilized for acquisition of residential properties to assist State Housing Initiative Partnership (SHIP)
program. income eligible applicants. The Monroe County Board of County Commissioners approved a
resolution authorizing the use of the SHIP program as the delivery system to distribute Impact Fee
Proviso Funding. The Florida Housing Finance Corporation awarded Impact Fee Proviso Funding in
the amount of $2,0001000 to the City of Key West in March, 2009 subject to the SHIP program roles.
PREVIOUS BLEV ANT ~CC ACTION:
Adoption of Resolution 512-2008 wherein the BOCC authorized the Momoe County SHIP Program
Administrator to administer a special award of down payment assistance funds to the City of Key West,
Florida effective December 10, 2008 at no cost to the County.
CONTRACT/AGREEMENT CHANGES:
Amendment of the 2008~2009-20 1 0 Monroe County Local Housing Assistance Plan by adopting the
City of Key West Impact Fee Proviso Funding Strategy.
STAFF RECOMMENDATIONS:
Approval.
TOTAL COST: 0.00 INDIRECT COST: BUDGETED: Yes _No x
COST TO COUNTY: 0.00 SOURCE OF FUNDS:
REVENUE PRODUCING: vest AMOUNTPERMONTH V...r
APPROVED BY: COIDlty Ally - ~MBlPurcbooing_ Risk Managemont_ -
DOCUMENTATION: Incl tled X NotRequired_
DISPOSITION: d _ AGENDA ITEM #
Revised ]/09 * REVISED BACK-UP *
(a MONROE COUNTY HOUSING AUTHORITY
II
To: Pedro Mercado
Assistant County Attorney
From: Marie Brouillette
MC SHIP Coordinator
Cc: J. Manuel Castillo~ Sr.
Kathy Peters
Connie Cyr
Date: September 2~ 2009 ,
Re: Agenda Item Summary: Monroe County SHIP LHAP - City of Key
West Impact Fee Proviso Funding Strategy (IFP)
Pedro,
Further to my email of today' s date regarding the above named SHIP Strategy
please note the following. Pursuant to the City of Key West Commission Meeting
held Monday~ September 1 ~ 2009 the following changes were made to the
submitted City of Key West Impact Fee Proviso Funding Strategy (IFP). This
Agenda Item was submitted to the MC BOCC yesterday for approval at the
September 16th, 2009 meeting.
The changes are highlighted in the attached revised strategy as follows:
a. Summary of the Strategy:
Add: . . . up to Mile Marker 12 upon authorization by Florida Housing
Finance Corporation ...
c. Income Categories and funding set-asides:
Add: .. . Funding set-asides may be reallocated within the above income
levels if funds cannot be obligated in 90 days, upon authorization by Florida
Housing Finance Corporation.
h. Additional Information:
Delete - Buyers must contribute a minimum of 3%...
Add: Buyers must contribute a minimum of the sales prices of the unit as a
down-payment as follows:
Very-low income 1%
Low income 2%
Moderate Income 3%
Delete: The size of a home. ....chart.
All other items remain the same. Please contact me should you require any
other clarification. Thank you.
,
l.
C r,{f,.r\'.'/V)j "'
k2l{ ([:1;-1 '<t r,i
G ) / It (7
B. (I) Name of the Strategy: HOUSING ASSISTANCE STRATEGY FOR THE) '-/ "
CITY OF KEY WEST IMP ACT FEE PROVISO (IFP) FUNDING
a. Summary of the Strategy:
Funding assistance for the purchase of residential properties located within
the city limits of the City of Key West, Florida and up to Mile Marker 12,
'-!pon authori"Z3tion by ~lorida Housing Finallce rQ.f.fiQ(~.tion including
condominiums and town-homes. hnpact Fee Proviso (IFP) funds may not
be used to purchase mobile homes.
b. Fiscal Years Covered:
2009~2010, 2010-2011
c. Income Categories and funding set-asides:
Very low / $600,000; Low / $600,000; Moderate / $800,000 income
households. Funding set..:asides may be reallocated within the above
income levels jffunds can lIot be obligated in 90 days. u~uthoriz.ation
bv FIorrda Housing Finance CorpQra:don"
d. Maximum award:
The IFP Mortgage loan is not to exceed the amount necessary to ensure
the eligible purchaser's principa4 interest, real estate taxes and insurance
(PIT!) payment does not exceed 33% of their annual household income
and/or an 80% loan to value, whichever is higher. The purchase price of
the housing unit may not exceed $400,000. Inspection costs in excess of
the maximum award will be a program expense, shall not exceed $350.00
and will be a grant to the borrower.
e. Terms, Recaptur~ and Default:
IFP Mortgage loans will be a deferred payment loan for a period of thirty
(30) years with zero % interest. The mortgage shall include standard
provisions for enforcement of the tenus and conditions contained in the
mortgage including judicial remedies. The loan will be due and payable in
full upon sale or transfer ofthe property, thirty (30) years, failure to
comply with the terms of the SIDP mortgage or death of the last surviving
homeowner. In the event of the death of the last surviving homeowner,
any income eligible heir residing in the home may assume the SHIP Loan
as long as they can obtain title to the entire property within one (1) year of
the death ofthe last surviving homeowner and the first mortgagee
consents to the assumption 0 f their loan.
( :-; "I \.,...; \
) "' I.- I. I \
I J I 1"". I
~;~"V,i\,,- .\',
,
f. Eligibility Requirements;
1. Applicants must derive at least 70% of their income from gainful
employment in Key West.
2. Applicants may not own a second home.
3. The dwelling unit purchased must be owner occupied.
4. The dwelling unit purchased must be financed with a federally insured
financial institution. In the event other financing methods are utilized
and approved by the SHIP Administrator, the SHIP Note and
Mortgage must be a first mortgage.
g. Recipient Selection Criteria:
Funding is available for commitment to individual applicants who have
valid contracts for purchase for eligible homes and secured a fIxed rate or
an adjustable rate with the first fIve years fixed first mortgage (no reverse
or interest only mortgages will be considered) on a "first come / first ready
basis" .
In the event there are more applicants than funds available for any income
set-aside, upon completion of the initial advertising, a lottery will be
utilized to determine what order applicants can participate. Applicants
who have been determined to be income eligible for program assistance
will be placed on a lottery waiting list and receive a SHIP Commitment
based on their position on the lottery waiting list. Applicants must execute
a contract for a housing unit and secure a loan commitment within 45 days
of receiVing their SHIP Commitment. Short sales are not considered a
contract until all parties have executed the agreement. Applicants must
close within 90 days of receiving a SHIP Corrnnitment. Applicants may
submit a completed application to the Monroe County SHIP Office at any
time, unless the waiting list is closed or until funding is expended.
h. Additional Information:
B 'Jy-ers "nus{ cent dbute- a m.iHi Il1U 111" of 3 % of t-he safes prt€.e~-ef th.e uuit as-a
:O'.Yll p'ayment.,
Buvers must cont"rib\1te"a minimUJil 'of the sales prEce of ~he un.i~.s it
down-payment a-s tollov.,'s:
'V~J.9W Income l~
Low Income .+%Q.
Moderatr.l.l;l.come 3%
The property must meet minimum health and safety
standards as defined under the D.S Department of Housing and Urban
Development's, Housing Quality Standards (HQS).
The size of a hotl-le an appHe-airt~ purchase shall be gByerood b:t" family
€ompbsit lorl as. out lined in the.fQ Eo"'.': iag chJit.
Peflea~. jn.l.{-OU~-a1 Persons fft ~cl
Bedr.wiil Siz.c (Mialimtm7 fMax-imam,
I Bedret)m l .flc"rsQu 1 v.eopje
~ Bedroom +-porsell .<I people
~In ;-.p ee-pt.e. 5 people
~f6om 1 people g pw-pJe
i. Maximum Sales Price:
The maximum sales price shall be $400,000.00
j. Shared Appreciation Provision: ,
All funds under this strategy are subject to a mortgage that shall contain
recapture provisions which provides for shared appreciation between the
buyer(s) and the Monroe County SIDP Program's Housing Assistance
Strategy For The City Of Key West Impact Fee Proviso Funding
unless the unit is regulated by a recorded affordable housing restrictive
covenant. The amount due the Strategy upon sale or transfer of the
property shall be 50% of the appreciated value.
The appreciated value shall be the difference between the original
purchase price and the sales prices less any real estate commission and
less the value of any permitted improvements.
k. Program Income:
Repayments from this strategy may only be utilized to purchase properties
within the city limits ofthe City of Key West and up to I\1ile Marker 12.
lJ,JlQ!l autltori,?:.atioH by Florida Hoo:;;ing Fina.l~j:.&w:.oraticin.
RESOLUTION NO. , 2009
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA APPROVING AN AMENDMENT TO THE
2008/2009/2010 LOCAL HOUSING ASSISTANCE PLAN AS REQUIRED BY
THE STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM,
AUTHORIZING THE ADOPTION OF THE "CITY OF KEY WEST, FLORIDA
IMP ACT FEE PROVISO FUNDING (IFP) STRATEGY" AND THE
SUBMISSION OF THE STRATEGY TO THE FLORIDA HOUSING FINANCE
CORPORATION.
WHEREAS, the Florida State Legislature provided $20,000,000 in down-
payment assistance funding under the 2008 Appropriation Act, Specific
Appropriation 1616; and ~ (
WHEREAS, The City of Key West, Florida applied for and was awarded
$2,000,000 in Down Payment Assistance /Impact Fee Proviso (DP AlIFP) Funding;
and
WHE~AS, the Florida Housing Finance Corporation is responsible for
administrating the DP AlIFP funds, and selected the State Housing Initiatives Program
(SHIP) as the financial delivery system for these funds; and
WHEREAS, the Board of County Commissioners of Monroe County
authorized the Momoe County SHIP Program Administrator to administer the special
award of DPAlIFP funds to the City of Key West, Florida effective December 17,
2008 by virtue of BOCC Resolution 512-2008; and
WHEREAS, this award of DP AlIFP funds shall be called the "City of
Key West Impact Fee Proviso Funding (IFP) Strategy"; and
WHEREAS, the City of Key West, Florida Board of Commissioners has
approved this strategy.
NOW, THEREFORE, BE IT RESOLVED, by the Board of County
Commissioners of Monroe County Florida, that the County hereby:
Authorizes the amendment to the 2008/2009/2010 Monroe County Local Housing
Assistance Plan to incorporate the "City of Key West Impact Fee Proviso
Funding" (IFP) Strategy and submit this strategy to the Florida Housing
Finance Corporation.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe
County, Florida at a regular meeting of said Board held on the 16th day of September,
2009.
Mayor George Neugent -
Mayor Pro Tern Sylvia Murphy -
Commissioner Mario DiGennaro
Commissioner Kim Wigington -
Commissioner Heather Carruthers -
(SEAL)
A TrEST: DANNY L. KOLHAGE, Clerk BOARD OF COUNTY COMMISSIONER OF
MONROE COUNTY, FLORIDA
By: By:
Deputy Clerk Mayor George Neugent
Approved as to legal sufficiency:
Date:
RESOLUTION NO.
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF IillY WEST~ FLORIDA) ADOPTING THE
HOUSING ASSISTANCE STRATEGY FOR THE CITY OF
KEY WEST IMPACT FEE PROVISO FUNDING;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Key West approved a reduction in impact fees by twenty-five
(25%) for eighteen (18) months; and
WHEREAS, tbe City applied for and received Impact Fee Proviso funding in the amount
of $2,000,000 for the Florida Housing Finance Corporation pursuant to Special Appropriation
1616;and
WHEREAS, the City authorized the Housing Authority of the City of Key West, Florida
to act as the agent for the City of Key West in the implementation of said funds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF KEY WEST, FLORIDA AS FOLLOWS:
Section 1 : Authorize the Housing Authority of the City of Key West, Florida to
request the Monroe County Board of County Commissioners to revise Momoe County's State
Housing Initiative Partnership Program (SHIP) Local Housing Assistance Plan (LHAP)
providing for the Housing Assistance Strategy for the City of Key West Impact Fee Proviso
(IFP) Funding as attached here to.
Section 2: Authorize the Housing Authority of the City of Key West, Florida to
prepare and advertise a Notice of Funding Availability (NOF A) in accordance with the City of
Key West utilizing State of Florida Impact Fee Proviso Funding awarded by the Florida Housing
Finance Corporation,
Section 3: That this Resolution shall go into effect immediately upon its passage and
adoption and authentication by. the signature of the presiding officer and the Clerk of the
Commission.
Passed and adopted by the City Commission at a meeting held this 1st day of September,
2009.
Authenticated by the presiding officer and Clerk of the Commission on the 1st day of
September, 2009.
Filed with the Clerk on ,2009.
, .- ~
MORGAN MCPHERSON, MAYOR
A TIEST:
CHERYL SMITH, CITY CLERK
B. (I) Name of the Strategy: HOUSING ASSISTANCE STRATEGY FOR THE
CITY OF KEY WEST IMP ACT FEE PROVISO (IFP) FUNDING
a. Summary ofthe Strategy:
Funding assistance for the purchase of residential properties located within
the city limits ofthe City of Key West, Florida and up to Mile Marker 12,
upon authorization by Florida Housing Finance Corporation including
condominiums and town-homes. Impact Fee Proviso (IFP) funds may not
be used to purchase mobile homes.
b. Fiscal Years Covered:
2009-2010,2010-2011
c. Income Categories and funding set-asides:
Very low / $600,000; Low / $600,000; Moderate / $800,000 income
households. Funding set-asides may be reallocated within the above
income levels if funds can not be obligated in 90 days, upon authorization
by Florida Housing Finance Corporation.
d. Maximum award:
The IFP Mortgage loan is not to exceed the amount necessary to ensure
the eligible purchaser's principal, interest, real estate taxes and insurance
(PIT!) payment does not exceed 33% of their annual household income
and/or an 80% loan to value, whichever is higher. The purchase price of
the housing unit may not exceed $400,000. Inspection costs in excess of
the maximum award will be a program expense, shall not exceed $350.00
and will be a grant to the borrower.
e. Terms, Recapture and Default:
IFP Mortgage loans will be a deferred payment loan for a period oftlllrty
(30) years with zero % interest. The mortgage shall include standard
provisions for enforcement of the terms and conditions contained in the
mortgage including judicial remedies. The loan will be due and payable in
full upon sale or transfer of the property, thirty (30) years, failure to
comply with the terms ofthe SHIP mortgage or death ofthe last surviving
homeowner. In the event ofthe death of the last surviving homeowner,
any income eligible heir residing in the home may assume the SHIP Loan
as long as they can obtain title to the entire property within one (1) year of
the death of the last surviving homeowner and the first mortgagee
consents to the assumption of their loan.
f. Eligibility Requirements;
1. Applicants must derive at least 70% of their income from gainful
employment in Key West.
2. Applicants may not own a second home.
3. The dwelling unit purchased must be owner occupied,
4. The dwelling unit purchased must be financed with a federally insured
financial institution. In the event other financing methods are utilized
and approved by the SHIP Administrator, the SHIP Note and
Mortgage must be a first mortgage.
g. Recipient Selection Criteria:
Funding is available for commitment to individual applicants who have
valid contracts for purchase for eligible homes and secured a fixed rate or
an adjustable rate with the fIrst fIve years fixed fIrst mortgage (no reverse
or interest only mortgages will be considered) on a "first come / first ready
basis" .
In the event there are more applicants than funds available for any income
set-aside, upon completion of the initial advertising, a lottery will be
utilized to determine what order applicants can participate. Applicants
who have been determined to be income eligible for program assistance
will be placed on a lottery waiting list and receive a SHIP Commitment
based on their position on the lottery waiting list. Applicants must execute
a contract for a housing unit and secure a loan commitment within 45 days
of receiving their SHIP Commitment. Short sales are not considered a
contract until all parties have executed the agreement. Applicants must
close within 90 days of receiving a SHIP Commitment. Applicants may
submit a completed application to the Monroe County SHIP Office at any
time, unless the waiting list is closed or until funding is expended.
h. Additional Information:
Buyers must contribute a minimum of the sales price of the unit as a
down-payment as follows:
Very-low Income 1%
Low Income 2%
Moderate Income 3%
The property must meet minimum health and safety
standards as defined under the V.S Department of Housing and Urban
Development's, Housing Quality Standards (HQS).
i. Maximum Sales Price:
The maximum sales price shall be $400,000.00
J. Shared Appreciation Provision:
All funds under this strategy are subject to a mortgage that shall contain
recapture provisions which provides for shared appreciation between the
buyer(s) and the Monroe County SHIP Program's Housing Assistance
Strategy For The City Of Key West Impact Fee Proviso Funding
unless the unit is regulated by a recorded affordable housing restrictive
covenant. The amount due the Strategy upon sale or transfer of the
property shall be 50% of the appreciated value.
The appreciated value shall be the difference between the original
purchase price and the sales prices less any real estate conumssion and
less the value of any permitted improvements.
k. Program Income:
Repayments from this strategy may only be utilized to purchase properties
within the city limits ofthe City of Key West and up to Mile Marker 12,
upon authorization by Florida Housing Finance Corporation.
Housing Authority of the City of Key West) Florida
1400 Kennedy Drive, Key West, FL 33040
Phone: (305) 296-5621 Fax: (305) 296-0932
Board of Commissioners Executive Director
Frank Toppino J. Manuel Castillo, Sr.
Bob Dean
Juanita Mingo
John G. Parks, Jr.
Roosevelt Sands, Jr.
EXECUTIVE SUMMARY
IMP ACT FEE PROVISO FUNDING
The City of Key West submitted an application prepared by the,Housing Authority of the City of
Key West, Florida to the Florida Housing Finance Corporation for $2,000,000 for down payment
assistance funding in December, 2008. The funding could only be utilized for acquisition of
residential properties to assist State Housing Initiative Partnership (SHIP) program income
eligible applicants. The Monroe County Board of County Commissioners approved a resolution
authorizing the use of the SHIP program as the delivery system to distribute Impact Fee Proviso
(IFP) Funding. The Florida Housing Finance Corporation awarded Impact Fee Proviso Funding
in the amount of $2,009,000 to the City of Key West in March, 2009 subject to the SHIP
program rules.
On April 23,2009 the City Commission authorized the Housing Authority to act as the agent for
the City for the IFP program and requested Commissioner Gibson to serve as IFP Liaison. The
Housing Authority established an advisory committee to make recommendations regarding the
Housing Assistance Strategy for the Impact Fee Proviso Funding.
The committee was comprised of:
Barry Gibson, Key West City Commissioner
John Parks, Key West Housing Authority Commissioner
Mark Rosch, Executive Director-Monroe County Land Authority
Omar Garcia, City of Key West Community Housing Committee Chairperson
Jon Ashby, Esq. City of Key West Community Housing Committee Member
John Dolan-Heitlinger, Consulting in Solutions & Metrics (Banking Professional)
Paul Clayton, City of Key West Workforce Housing Coordinator
The committee reviewed much information to include market and real estate data, financing
scenarios and participated in lengthy discussions and recommends the attached strategy for the
Commissioner's consideration.
Also attached is a brief program summary and background information.
2009 MONROE COUNTY &
CITYOF KEY WEST
INCOME LIMITS
Effective: March 19, 2009
2009 Monroe County, Median Income $69,200.00
Program Income Maximums, Adjusted for Family Size
50% 80% 120%.
Household Size Very Low Low Moderate
One Person $ 26,300 $ 42,100,; $ 63,120
Two Persons $ 30,100 $ 48,100 $ 72,240
Three Persons $ 33,850 $ 54,150 $ 81,240
Four Persons $ 37,600 $ 60,150 $ 90,240
Five Persons $ 40,600 $ 64,950 $ 97,440
Six Persons $ 43,600 $ 69,750 $ 104,640
Seven Persons $ 46,600 $ 74,600 $111,840
ElQ ht Persons $ 49,650 $ 79,400 $ 119,160
Categories: ' Very Low = 0% to 50% of Median
Low := 51 % to 80% of Median
Moderate = 81% to 120% of Median
CITY OF KEY WEST
. IMPACT FEE PROVISO FUNDING
INCOME LIMIT TARGETING &
seT ASIDES
ESl1MA TE
SET ASIDE LOAN # OF HOMES
INCOME LIMIT AMOUNT LOW HIGH LOW HIGH
Very Low 50% $ 600,000 $ 150,000 $ 200,000 4 3
Low 80% $ 600,000 $ 100,000 $ 120,000 6 5
Moderate 120% $ 800,000 $ 50,000 $ 80,000 16 10
Total: $ 2,000,000 ,< 26 18
j
,
I,.
0 0000 000 0 t-roN lD
~ 01001.0 1.0 0 t-OOl I-..
oNlOt- t-_ 0 lONN 0
0 o-N"o-...-- ...- 6 ...- N
ill '<t m I.O...-...-LO ro ~
r0 ' ("') N
~ ,
w 0 0000 000 0 ("')CON ....
0 "'" OlOO!!) 10 0 Nr0m 10
0 N oom...... ..... o. 0_"'- ..... t"':l.
2 N ci ro- <0 y-- LO- (D ...- ....
N t- r0 I ("') 00 l'
N N ...-
,
0 0000 000 0 LOooN '<t
10 OLOOlO '<1".... LOom Jl)
y- ON!!)t- 01-.. ...-NN ut
ci ci c,i ci ~ oi (',,r y- ....-
"<t co LO..-...-LO o'<t
("') I ("') N..-
1 I
B 0 0000 0)..-0 0 L!)CON t"':l
--1 0 OIOOLO r0.... mr0O) N
...- 000>"- 0.... 0) ..- ...- <'t
o:i ciro-co.~ ci~ .....
N '<t r0 'r0 COU)
N N ......
,
C) 0 0000 Cf)....O 0 coroN co
0 OIOOLO ..-1"') ..-om ....
~ 0 ONLOt- ro Q) IONN o.
C M ciNO~ cvi"": ....
I-Zcn "'" 1O"-"-lO 0)10
~ r0 Ie<) 'N
en::>- ,
wu..en 0
3:0>- --1
en--1 & <:> 0000 w'<tO 0 oWN co
>-_<C 0 OIOOLO '<;to O("')O'J N
w>Z ill y- oom..- '<t..... LO..-"- co
::GO<C > ci cio:icrf"': cic
u..g:(,!) N r0 ("') ("') m~
N N I .....
Ow~ .
>-wc
I-u..Z
51-::>
uu..
<C
Q., ~ Q)
:2: .:.J 0
- (fJ .;:: ....
0 ~ 0.. C
() i= (J) Q.I
Q)O Ul E
::,g:;i OlI- o: ('ll ~
.c
~I- ltl 1 0 0
Cl (J) 0..... ll.
,0 t:: o O;l ClI
lul- e c;::R _C" Cl
~:a: ro 0 "r""...... I1:l
Ul 'L-lO---O
('ll ., Q) ;l,,!~0 Cl
.c; c~.2 UlLOmo ~
0 .E:@CI:!O_ e
'-
~ :J ;l I I1:l :iE
oC!)> c?:I co.-
::no... ..... - >.
(')3 EO'Io ~m@g :c
<(ltl.....
I ..... WO'Ic XQjIl)O ....
II) C 0'1;: ell ~"""Wcf l:
..... (J) ('ll 0 0 _.E ~ ...- 0
~ E m:a: -l 1il-g~@ :a
Q) () ;>, -e_~
o ro o I- ., ~ro1i'lW
Ci5 ._ m 0- :2:-0 w -...... 0
I- C c Q.,co ......roll)C
> (J) 0... 'jj) :::: 1?!ll.ll. E .9- Ql ro
w N
......l .- Ql 0 0 -0- L-
QlU)w ~uD .- u.. u.. ro .E lE ~
lJ,...--
E~E II) VI (fj 0.......
"cU)U) '0 0... 0:: E
o E 8 o ;l U) (/l VI Yl
.....-Ql W Cll Q) c
g ro c ::lo.........l ......l...J...J 'C
_lJ,..._ 0... 0...
<_. .
, ~ make'holJ~lllg crikwloble --.-- ..-------------
F;orida H:o"using 227 Norlh Bro~ough Streel, Suite 5000 · 1c!lohome, Florida 32301
. . .",.:" 850,1188.4197" fox 850.488.9809 · www.florldanousing.ofg
fin 0 n -Z-;;--Corp-o-;:--~--;r;
March 17,2009
Mr. Morgan McPherson
City of Key West
p, O. Box 1409
Key. West, Florida 3304]
RE: Imp"act Fee Proviso Funding
Dear Mr. McPherson:
The Flodda Housing Board' of Directors approved funding in accordance with the following legislative
provision at their March 13, 2009 meeting:
From the funds in Specific Approp'rlation 1616) $20,000,000 in non-recrlrring funds in the State
Housing Trust Fund shan. be rlSedfw hom(!ownership assistance in counties and municipalities in the
state wltich have reduced impactJees within the twelve months prior to tlte effective date of this act, or
reduce'lmpactfees subsequent to the effective date of this act, bya miuimum of 25%[or a period not
! less thalt 18 montlts, of which i1!'pose no impactfees entirely for ho~owne(ship purposes.
The amount of funding approved by the Board for the City of Key West is $2,000,000.
This award is canting-ent on availability of funds appropriated bv the Florida Legislature, If funds become
unavailable for anv reason. this award will be rescinded.
These funds ~ay be draV\l!l down as they are encumbered provided all requirements of the proviso and
funding are being met using the attached fohn. As stated in the original document for this proviso, there is
no provision for administrative costs in this legislation.
If the requirements of the proviso are no longer being met or the status of compliance changes at any time
during the period offunding, the City is required to inform Florida Housing immediately.
Additionally, any funds that are not expended by June 30, 2010 will be recaptmed by Florida I-lousing.
. .
If you have any questions regarding this information, please contact me.
a
obert duff Y
SHIP Administl '0
......._;-_._._,_..............___........................-~__._.......-._--~.......""'w.._....._---_.......-....-..---.---_..------..~........_."""'-~..........~....................---_-.-
Charlie CriSI, Governor
Boord 01 Direciorl' David E. Oollaticn, Clwitmon . Sluorl Scnoroge, Vice Chairman · Tom pelhum, E~ Orf-ido
...KOI\ Foitmon . Jerry Maygorden . Marilyn l. Sotoyer · Lynn Slullz
, Slephen P. Auger, Executivo Direclor
.
Impact Fee Proviso Meeting Summary
Background
On Wednesday, October 29, 2008 at 2 PM, Florida Housing held a Public Meeting to
discuss the Impact Fee Proviso approved by the Florida Legislature. The meeting was
intended to be available for in person a1t~ndanceas weil as par'ticipation via telephone.
Due to issues with call-in numbers, the meeting was not accessible to everyone that
attempted to call-in or was only accessible after some delay, The information W<lS
repeated several times to attempt to inform all interested parties. This summary is being
provided to ensure that the information discussed in the meeting is provided to everyone.
Meeting Purpose
The Public M~eting was to discuss the implementation of the following legislative
proviso:
From thefunds in Specific Appropriation 16161. $20,000,000 in non-recurring funds in
the State Housing Trust Fund shall be usedfor homeownership assistance in counties
and municipalities in the state which have reduced imp(lctfees within the twelve
months prior to the effective date of this act, or reduce impactfees subsequent to the
r;.ffective date of this act, by a. minimum of25%for a period not less than 18 months, or
} which impose no impactfees entirely for homeownership purposes.
Florida Housing is contemplating administering the funds tlrrough the State Housing
Initiatives Partnersl:ip (SHIP) program,
Summary
Florida Housing provided a general summary of the intent of the impact Fee Proviso:
1. The purpose of this proviso is to incentivize a jurisdiction to reduce impact fees
on.new construction to stimulate construction.
2. Funds are to be used for homeownership assistance including, but not limited to,
down payment assistance, foreclosure prevention and rehabilitation.
3.' Funds will need to be committed and spent in a short time frame (1 year from the
award offunds).
4. FLmds are intended to reducf~ the amount of excess housing stock.
5. Funds are intended to assist homeowners in the very low, low and moderate
incorne categories.
Jurisdiction Eligibility
In order to be eligible to receive funding under this proviso, the SHIP eligible jurisdiction
must:
_.~ ------- --~_.... -.--,.-
ro
'E s:; rJ) rJ) rJ) rJ) rJ) rJ) rJ) rJ) rJ) Q}
~rv (l)0) CD (l) (l) CDrv Q) QJ
._ ~ >- >- >- >- >- >- >- >- >- .S:
,r'- ... ,.:; Q)
f...... u _._ ,__ --- -- -- ------- -- ,-- 1---'--- - -~---- ~ .
, 4- '" c:: 1::
<(0 (/) (/)rJ)E$ rJ)...... rJ) 010 :02
...... +> mm.... IDe) Q) em 1::c:::
:.0'- 0) a; $ ~ u::: N $ ro $ rJ)'- 0.. (/) ~ (j)
._ ill ,.. ~...... ...... c >- .... 0... (/) ~ (j) 't5 E Q) :::>
.c O'l ... E;; 0 () 0 .0 0 E..c u m Q) .- Q) r: Q)
x ctl :.a E ~ gOlf) g -- 1:: m'l- = "0...... 0 t
wo.. c ~o EE.8$ E~oEg8~ g '20\
::l ._ () .- .~ if) .... .- -0 E ,- Q..... U) a ~ S
L1.. t::'C; oooct) OQJcooEg2iQE Ill(/)
o 0 e C tll C () ...... c._ tll C .0 0
o 0. .- 11l 11l ~ 0.. ui rn :J '- Ul 0 >-...... 'iji 0 "Q 13
I/) c.. iU al Q).3 E..c al ~ ,P (I) c.o ~ :J C co CD
._ :::J ..... ;::;, 0 0 ...... OJ '" ~ OJ ro.... 0 "Q I;;.
> Ul C . 1:: .... rJ) :;:: e .... .... :::R .... l3.c.......c III 1:: 0
e Q) 1!~O)oo~~~~~.$o=~ Q)~
0.. E () 0 0::: C E u ..c N 0 1:: 'C 'eft. ro .... E "0
:::J .",....mOrol.... ;::- ro()o.....ro ElB
(]) g"E: ''E :& 15 ..... I 'E" ~ .0 ~ i3 ..ca ro .g {3 0 (j)
(],) :J:J;!:::":J"':l ::l CI) :JI..,., Q)'" ml;>:- t)-
lL. 0 oO::l-g~ooQ)OI;E:m~Q):=: ~Bl
t) _____-- 0 0 ~---l?. 0 0 J2 0 0 ~_cm 0 ,-- Dl ~
me's' I...
a. 0-0 2-12
E +:irv C C C c en
m "0 0 0 0 0 .~ CD
_ (,) ._ ~ ,_ ._ ._ i::'
l-o ;:: > :J '5 '5 '5 1:: <::
o ._ 0 ........ - ... - ... - -.... ::s 0'
""" t::'- (l)d) 0 OJ 0 mO 0 Q) o.t:;
Q) 0. ~ :1::J 11l = [/) :t:: (/) [/):::::: ~ "0
III Q)al (l) Q) Q) WW II) Q) <:: >.
c () -l -l ~ ....I ct: ..J 0::: a::::....l ~ 25 .......
o --------''650--0- ~- 0- 6-:f 1.0 0 -- Q).Q 5
~ "Ct I;') en o~ ro :SCJ 0
<u e (/) N_ ('0'). D. ::!; (0. __ ~ 0
-g ~"C tg (b ~z ~ 5.12 ~
Q) 65 N g'O t:
E =LI.. <;;;t:::' 0
E u 0.. ~ ,9 ~
(' g:;_ '\is:!:::: ..s:::
o c: J:. (\) ,!!:l Ol
'. 0::> en ::s :::I ::s
, ~ --:;-------- B- 6 ----0 -- -0 - 0- er-6 --6--- Ci --0- ~ g ~
..... 00 0 0 0 00 0 0 0 (\). ......
"t:S Q) 0 0 0 0 0 0 0 0 0 0 J::: CD (')
5 -g -1<.... c:i c:i ci 0" 0 c:i c:i 0 0 c:i ..... g ~
... ...., 0 t!) 0 LO 0 0 0 0 DOt::: qJ
III E .5 1.0. t"') to ('0') D. IX) 0 1.0 O. D. ~ ~ .9-
_ E "0..- N N N 0 -S .~ ,~
I/) C .... C1JV$ "t:
(1) o=' Co?qJ <<l
::::s ()U- .!!:..... Q.
0" Q) t:: --
Q,) a:: .!!:l Q) 0} ::s
0::: ____ -- i--= --- ..... E 0 ...Q
00 0 0 0 0 0 0 0 0 5 >.. ~ ::>:.
0} 0 0 0 0 0 0 0 0 0 0 (il'~:;:::
c:: 'tl1:: 0"0. o. 0_ 000. D. O. D. ~o.. cb 0
Q)::l- 00 0 0 0 0 0 0 DO!::: 0 @.
"t:S :::J 0 0 0 0 0 0 0 0 0 0 0 ro s: 0 :.;:;
C 0" 00 LO 0 0 00 LO 0 LO O'la C\l v4::z 25 NN ..-; N N' NN N 0' $i'O >-- ~
u.. ......... ....... ..,4- u.. t:
_ ~~ 5 ~
~ --~---:,:;-- co"to ro IX) co -- co co --(X)'--- (jj --..-" 'Ci;~ ::: 0...
E .... DO 0 0 0 00 0 0 Q):!:::: '-' --
1fi L., il ~ ~ 0 0 0 0 0 ~ ~ ti "Q.;:: ~ ~
c ~._ _ _ r::! ~ ~ N N __ _ rv c::: 13 rn
L- ::l-:t:lE '<to '<t '<t I.[) (ON 0 (0::1 (\)(il g (\)
Q) C"'(tl -....... N N-.......- t"') NO" ~ _:::.
> Q) ..J..c ..- _ __ _ N _",", __ -- Q) I;;; '0 - '-
00:: ::I............... .......-N~ 0........... Em rn Q)
en ............. .......-..-..... ...... O.!:::! en ~
C> ,_..____~_ ______ -.-.----- El as 1:: -g c.
_ - ~o ~
<<I .... "C 't;: <2 0
c..> ~ c: ~ 0.. CD t::
o E ro:::s .,:;]m"O CIJ
...J C l~ ~ ~? ~ 13 ~ "8 u.. ~:s.2 ~
L., e e C::J ::l> C rnQ) (1)1... () ""a
g; I ~ is :J ::J 0 0 > ::J IJ) ::c -s.e ,S 1;)
o Co 0 0 () 0?: 0 C ;s ..... Q)
( ",::I 0 0 ," __ 0) 0 al .!2l CIJ ~ ~ S
\ '-' OC ""...~ (1--" Q)'U";:'"
, -= 0::10.8 ~ 15 ~_ Jg 4--W~ C1J't) :R >..
\~ 0 ~ - ,n 0 ::l 0 - m m CD '" n,
U C.c C..... w ~ ..,.m..... u::J 0 ,";1.
o 0- ro ro -0 ro ,2+'..... 0" ""'-
..J CD ro <f6 .......c: ell ~ > ,- 0 0 C 0\ a -I<
...I. Q __9..._. ~_ _S?_, ..S2_.f>_ ....__..> O!-.... i< c; t ~
'RESOLUTION NO. 08-330
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF KEY WEST, FLORIDA, AUTHORIZING THE
REDUCTION OF IMPACT FEES BY TWENTY-FIVE
PERCENT (25%) FOR THE NEXT EIGHTEEN MONTHS;
PROVIDING FOR REVIEW BY BOND COUNSEL;
PROVIDING FOR AN EFFECTIVE DATE
"WHEREAS the Florida Legislature recently passed the 2008
General Appropriations Act, including specific appropriation 1616;
and
, '
WHEREAS, the Act specifies that the State Housing Trust Fund
shall be used for homeowners hip assistance in counties and
municipalities in the state which have reduced impact fees within
the twelve (12) months prior to the effective date of this act, or
I reduce impact fees subsequent to the effective date of this act, by
a minimum of twenty-five percent (25%) for a period not less than
eighteen (18) months, or which impose no impact fees entirely for
homeownership purposes; and
WHEREAS, up to two (2 ) million dollars in funding is available
under the program.
NOW, THEREFORE, .BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF KEY WEST, FLORIDA, AS FOLLOWS:
Section 1: A reduction in impact fees by twenty-five
percent (25%) for the next eighteen (18) months is hereby approved,
subject to the review specified in Section 2 below.
Section 2: Bond counsel shall review such reduction to
ensure it does not negatively impact any revenues currently subject
to bonding.
Section 3: The City manager shall take any further
consistent action necessary to implement this reduction.
Section 4: That this Resolution shall go into effect
immediately upon its passage and adoption and authentication by the
signature of the presiding officer and the Clerk of the Commission
passed and adopted by the City Commission at a meeting held
this 2nd day of December I 2008.
Authenticated by the presiding officer and Clerk of the
Conunission on December 3 I 2008.
Filed with the Clerk December 3 / 2008.
:
~
)
Page 1 of 1
Marie Brouillette
- - .
From: Darlene Raker [Darlene.Raker@floridahousing.org]
Sent: Tuesday, September 01,2009 9:24 AM
To: Marie Brouillette
Subject: City of Key West
This is to confirm that the City of Key West is indeed eligible and approved for funding from the Impact Proviso Program
as confirmed by Resolution number 08-330.
If I can be of further assistance please let me know.
Darlene Raker, SHIP Program Manager
Florida Housing Finance Corporation
227 North Bronough St., Suite 5000
Tallahassee, FL 32301
(8S0) 488-4197
911/2009