Item I1r. s .ill"i'll <1 1,
m
Meeting Date:
February
110, 201.6
Department: Planning
8z Environmental resources
Bulk Item: Yes
No
X
Staff Contact Person/Phone #:
Mayte Santamarrta 28 -25h2
AGENDA ITEM WORDING: Discussion and direction related to the Administrative Fees included
within the ground leases the County has approved for the development of affordable housing and
direction on requests to waive the administrative fees which were originally intended to reimburse the
County for the coordination of affordable housing,
ITBACKGROUND: I it be 015, t Islhe ander re tweed waive
from Steven and Jessica Foureman,
owners of a affordableVillage,the 1.5% Administrative Fee stipulated in
the Ground Lease between Monroe County and !slander Village, LLC. Per the ground lease, the 1.5% of the
purchase price is an administrative fee is to be paid to the County for review of the contract and assistance with
coordinating the closing on the Affordable Housing Unit.
The relevant ground lease provision states: Section 12.08 t4dininistratiye .Fees. With the exception of`the initial
sales by Initial Lessee, the Lessor or its designee shall be entitled to charge three and one-half percent (3112%) of
the Purchase Price (grass compensation however described) fear any transferred interest (other than simple
security mortgage interests or rental agreements) in which Lessor identified the purchaser, as an administrative
,fee for coordinating the closing on any :affordable Housing Unit, said fee to be paid by the selling Unit Owner at
the time of closing. This fee does not include other seller and buyer closing related casts .such as title insurance,
documentary stamps, intangible taxes, prorated taxes, real estate commissions, insurance, homeowners'
assessments, loan expenses and the like, or rental management or processing fees for rental units. In the event
Lessor was unable to identify a purchaser, Lessor shall still be entitled to an administrative Lee ot one and one
ril the aAffordable� o tlxe After
r�r i,eview o the contract and assistance with: coordinating the closin
o
Housan Unit. A ter the initial sales by Initial Lessee, the Lessor or its designee shall be
authorized to designate closing, escrow and title agents involved in all transactions involving interests subject to
this Lease. After the initial sale of each Affordable Housing Unit by Initial Lessee, Lessor or its desi aaee an.ay
initially anditom time to time, establish., promulgate, revise andl or waive rill or accrt o si-ic{x ees related to the
admiaaisstratioai ol" th:is Lease and any S`aibleases but in no event may Lessor increase the amount of the
administrative fee to (in amount in excess of three and one-half percent (3�12'%) for an owner who purchased his or
her,Affordable Housing Unit without actual, constructive or regulatory notice ref the potential applicability of a
greater percentage fee.
County staff notified the Fouremans that staff could not administratively waive the Administrative Fee and that
the request would need to go before the BOCC. In the interim, the Fouremans have agreed to an escrow
agreement to establish an interest -bearing escrow account for the 1.5% Administrative Fee until this matter is
presented to the BOCC for direction. Since that date, another buyer (Paul Reed and Sophie Tornek - unit #13 in
Park Village) submitted a check for the 1.5% Administrative Fee and did not request a waiver of the fee.
In reviewing this request, County staff has identified that four []-Park Village, 2-Flagler Village, 3-Islander
Village and 4-Blue Water] of the six [I -Park Village, 2-Flagler Village, 3-1slander Village, 4-Blue Water and
5&0- Habitat for Humanity of the Upper Keys] existing affordable housing ground leases include the same
Administrative Fee provision [the remaining two ground leases with Habitat for Humanity of the Upper Keys
include a modified administrative fee provision of O a05% for the transfer q1' improvements](excerpts from
ground leases are attached).
Additionally, staff has not found any evidence of prior payment of the Administrative Fee by affordable housing
unit owner-seller(s). (There is one other current pending transaction for unit #13 in Park Village that has placed
the 1.5% admin fee in an escrow account). Staff has reviewed sales transaction records and, based on information
retrieved, identified that approx. 27 transactions have occurred of units subject to the administrative fee provision.
(see attached table and summary table below). If the 1.5% administrative fee were collected on these prior sales
(from 2009 to present date), the County would have collected a total of approx. $63,960, As a mote, retroactively
pursuing prior fees may be legally challenging.
These finds could have been utilized to help the County contract with another entity for the monitoring and
qualifying of affordable housing applicants. As discussed on previous occasions with the 13OCC, the County has
limited resources for monitoring and qualifying of affordable housing.
CONTRACT/AGREEMENT CHANGES: N/A
STAFF RECOMMENDATIONS: Direction on the collecting or waiving of all or a portion of the 1.5%
Administrative Fee for future scenarios and requests. Potential options:
• Direct staff to collect admin fee and record the adrnin fee requirement in the land records
o Establish an account for collections? Set a threshold for collection admin fees?
• Direct staff to attempt to amend ground leases to eliminate admin fee
® Direct staff to attempt to arnend ground leases to set a flat fee per sale transaction
• Direct staff to attempt to amend Habitat ground leases to provide for the same admin fee
• Direct staff to attempt to amend ground leases to match the admin fee provision of the habitat leases
• Direct staff to investigate if the County can pursue retroactive claims
o Set a threshold for collection admin fees with legal and admin fees?
Direction on the request from Steven and Jessica Foureman to waive the 1.5% Administrative Fee.
TOTAL, COST: N/A INDIRECT COST: N/A BUDGETED: Yes o N/A
DIFFERENTIAL OF LOCAL PREFERENCE:
COST TO COUNTY: N/A SOURCE OFFUNDS: N/A
REVENUE PRODUCING: Yes No N/A AMOUNT PER MONTH N/A Year
APPROVED, BY: County Atty OMB/Purchasing disk Managen'zent
DOCUMENTATION: Included _ X Not Required
DISPOSITION: -_ AGENDA ITEM
1. Ground Lease Agreement between Monroe County and Park Village.. LLCI (July 19 2006)
With the exception of the initial sales by Initial
Lessee, the IA&q ar or its designee shall be entitled to charge three and one-half, percent (
Page25 Of 53
1/~ ),of the Purchase Price (gross compensation however desert iced} far atn-transferred
interest (other than simple security mortgage inter is or rentalagreements) in which
Lessor identified the purchaser, asanadministrative fee for co coordinating theclosing on. any
Affordable Housing Emit, said fee to be pair) by the selling. Unit Owner at the time of
closing, This fee does not include other seller and buyer closing related coasts such as title
insurance, documentary stamps, intangible taxes, prorated taxes, real estate commissions,
insurance, honicoaw hers' assessments, loan expenses and the like, orrernalmanagensentor
processing fees for rental units, in the event Lessor was unable to identify a purchaser,
Lessor shall still beentided to an administrative fee of tine and one-half percent (:t i2 %) Of
the Purchase Price for review of the contract and assistance with coordinating the closing
on the Affordable Housing, Unit. sifter the initial sales by Initial Lessee, the Lessor -oar its
designee shall be authorized to designate: closing, eseraw and title agents involved in all
transactions'involving interests subject to this Lease. meter the hritial sale: of each
Affordable Housing Unit by Initial Lessee, Lessor or its designee may, initially and imm
time to time, establish, promulgate, revise and/or waive all or part of such fry related to
the administration of this Lease andany uble ,butin no event may Lessorinc the
amount of the adniWistrative fee to an arno unt in excess of threeand one-half penvnt(3 V2
%) for an oowmer who purchased his or her Affordable Housing limit without actual,.
constructive or re teary notice of the potential applicability of a greater percentage fee.
Language Conferring Monroe County Free Legislative Discretion to Amend Subject Ground Lease's
"Affordable Restrictions"?: Yes, at Article I - Definitions,
'a'iffaord,tble irietions' shall mean the affordable orcurptrri, ?,ousbat regulatious
as set forth in thuptev 9,rr and any Other applies ble sections of the Monive County Land
t veent R41allommior County Cbde,ashereinafteramen that Inoue%*. t
shall the lcsalor doomw the lawfully peratissible sales price for an Afforriable Hoouing
Unit to has than the spftMtd says price for moderate fircouar housing us got forth in the
land Boviopnmeut Regulations in offect at the time of execution of this Lease where the
short Upon an would be to divest such portion or artily of
vutue upon which such pemni reasombly and fairly rellod to their datrttnuni. The
substance of the Affordable kerrurictions may be fredy amended In the Le : -s legislative
discretion, particularly with rei at to adurnistratk , nom. ito timgl and entorrinnem
ee ism%, but Any sorh aniendment shall not matariaflly diminish the lawfully
established urnd equitablyvested levalueorthe m**ombieallenabhRy+oofan tsle
liousinslUnit. ltorw , t et Affordable Housing Unit resalaiaritt rentakto
tail as 'loripleyee Housing" as dellned In the Aflonlable Restrictions. as amended from
arnelotinic. 4fUtC 9t r, f r mn ay . tatltln irk its hte ell "rrn $foil
'as ta"elftoria that Uralic potential buyer or retntal pook Anysuch amendment shall not
increAveto thouu 's tisonsibilkies as set fsxth hendin. it is the intent and purpose and
ll be the effcet of this Leatle and any Affordable ftruttictlo ns to ensure that the
aftordabuitycofAffiardable Housing Units and dedicated mal Mperty upoil which theyart
located is maintained and enfo enl such, that arty administrative rule, poh4cy or
interp tint de try= Lessor or Its dosignees relating to the maximum, total
amount of consideration rind n ned to i in any way lav ecd Jr, a purchase or
rental tra - inn (indudlegbutnot limited torlurc. price, lease alailturneot€ rests
us ar€Y Other wilipertiation fhvv it or nerved In oor'oouiside ll a related tra ion) sholl
never exceed these affordANIfty criteria reasonably established by Id my for the
dwelling units involved. In ever, case„ the construction and intertwelation cf tenw_
conditions and restrictions imposed by this Lease and the Afforttability Restrictions than
be nude, in favorof an mitriarufic.mthvat maures longt affordslullry benefitsfor tl
t`r5taer'1o1c housing resources Inure to the I s al t of Mon toe County, its economy and Its
community character,
11111liq
Language ConferriagMonroe ,County Free Legislative Discretion to Amend Subject Ground Lease's
"Affordable Restrictions"?: Yes, at Article I - Definitions, as arnerided by Amendment No. I to
Ground Lease (April 15,2006),
'"Affordable Ricstrii0nots" shall nuian the affordable or employ"
housing regulations as set forth in Chapter 9.5 and any other applicable Sections
of the Moorcgr County Land Development Regulations or County Code, as
hereinaller amended, except that in tic) event shall the Lessor materially and
adVCTSClY slier the obligations Or rights of Lessee under this Lease or dcoroast
the tawfully permissible gales price or rental rare for art A9f6rdable Rousing
Unit to less than (tic specified sales price or rental rates 1br nioderato naconte
housing as sot forth in the Land Development Rctiulaborts in effect at the time
ofexectatkal of this Lease where the effect upon an ownei/Subtes, Sechoortgagee
Would be to divest sIr;lI ,person In entity of value upon which Such person
reasonably and fairly relied to their detriment. The substance ofthe Affordable
Restrictions may be freely amended in the Lessor's legislative discretion,
particularly with respect to administrative, monitoring and anforement
mechanisms, but any such ranendinent shall not materially dinuniA the
lawfully established and equitably vested resale value or the reasIonable
alienability of "home -ownership" Affordable Housing Units, in in the case of
rOnItAl-only units or projects, shall not materially and adversely diminish or
interfere Willi the Lessee's substantive benefits conferred under this Lease or
any of its non -administrative tornis. However, Lessor may restrict Affordable
Housing Unit resales and rentals to use it,,; "Employee Housing" as defined in
ORC, U.0 Anwod I
D..n 1764997
Blot 2438 PIM tea
JN€Ultk;`! :10111 !1W, 10 tini :1)
!oquiTn.wit sl, Molo;vcl,
-,I)..liol!:i 11r�,ili, " linl�l p,l,nllialliV":y ,I
Art,, such anwodi-jent shall noel ua.rease nwall 1 C x
Ic-Spons;ihilil es ,sat iolill heier.I. 11 is 11w, inloill :Iwt pmrpo"e :1nd a,lu, € the UIQ
't j &I'l of rLQ.nsc and "lln Rrstllcli,,11s if) Ivayc �,, the;
Lffoidihiftl% ,,ffootabic flo-oig knits ,nanddv,!I,.naceAl lQa! njojle;[r' OLIDII
,]I �, II die- . 1;-Acd i5 Iwm1(,m.QJ m16 n0WQcAi � MIOt th;vnt ;,dnnj,.� uafiv,
lanceIIII& bY LQ-1RI) )1 its; dltq�elvvl ki
tile.nsxi€nnin.and UuSl )CInnuec III be in
vr&eaj ire or kjTfaj nquIsaCti(ju
(inclwhoji but 1."It lunw!'] to
pure hose pr,rv, kase asSigutnew rents Of any o(hur corupQrlsldiuri gi,:en or
received In or cnniadc" of % related lransacltnnS shall atver eKce.Gd She
afibrilabilily erUeria rVisonaNy evablished by Mom"C. County fol thn dwelling
oats 111koh"Ed. III every Case, the Construction and wtetpmgOon on rvong,
eonifitrons and restrictions rinposedi by ties Lease and the Aftoidabifirty
Hhall be made in favor of ensuirrig that long Icon afiolidalbility
bencfits fin the respective homing , resources more to the benefit of Monroe
County, its economy and its vorranturity character. In ail casea, of conflict
between local and federal LIHTC ronfid, tenant elittibdity and other grau-Mitios,
Lessee shall be entitled to adhere to governing federal (1-111TC) requirements
without being deemed in broach of this Lease or the Affordable Restrictions.
3, Ground Lease Agreement ent between Monroe County and Islander Villaae LL (ADHI 18
20071: Contains an Administrative Fee provision at Section 12,08.
`' 1 r ei ..t:w.kskla etna, a late rcealrtia rr ea#the i€aitaatl scales la, kaci:tiatl
I,a sset�„ the leaser or its desip utevshaali be entitictl teaaa:laaarge the eaa aarpd One-half R 1 �"
90 of aloe l' arclaat e, lar tea t,grces e:c tatp ets tdttklr he Wtveer described) for any tr rnstezrred
interest (other this" aatrapale +uKIIIity toort taye interetosts, or ronlaal as re�taaraa;„Itts,1 ill cwvhicfk
Lessor identifled the ,tt all adlinisI c1mi€tgolhartV
:" Iford-able l lnausisa la,tit„ s;tr`«d fee to be'. paid by"the selling Unit Oivneraat that [lease* a p cblt �iat�.
11ci^ fee docsnot i.rrt^ltitle trt:l'aerselleriaold bs e r clOAra9r46t(lls:aartuh as title i€[strange
elaaaiaartroa�nfa►a� staan�apaos, rrttan�ilil@� t«axes, pr•aaraatt�cl fzrxats„ rr~aG a �ttataT c•r�gtints�str�apus.„ iatwatr<ar5+a°ti,,
hol insane" resew,sarwnts, kian exli nsoes and the like, or rental ma ri a emear.to ga�� cas�;i;ra
ft', rOS. for rental uaarits, I11 than event I!Alssor vk%as unable to identify a pnrchascr, lxs%or,s:hall
tildl attitle teran;�aclrtairaistuaatiwifecco�°ynalauaaMcicta�lr,all"Is ra.c„ t,0t/2%)of`hePurchaase
Pri.e fear of that. ContFR& ind assistanct� xith cA)oiT%jjnatijjg tile; clogitt� aura tltea
eft"aaaalaul'ais Y1�rr�aa t'rtit.. tit,[larva'aitial';Zl(�Sley°Initiaalle„ seer literssaacearitatitwi tare
shall ire.aauthorizedterdesignate rlcis;iat ,os ocovasridtitleaa�ct:atsmyrrlteatart:aittokarat,tietitatu
ratty°olving intercr:sts:subje(i to Hats Lease. softer tier® initiM as le o(e:,ach. A(fon..Nat)le 1-jousin
tUnitlxw Initial 1,esa It%„I,rrs,ororif.sdestgne ttu;ar innfial1v and frotntionetotime, establish,
promulgate, revise ;and{earxwauayeallorpstrtat'atchleasrel.atedlothesadministration€fthis
IANIcar and ally 8talsleyases, iaabt its 110 O ent 9tr,'ry° 9.c§sSM increiate the amount of the
:adaiinisiraatiw e feu to .an aarnount in cx+'osa tlf [loran atold conic -half pere°ent (3 r/2 `J for an
eaa.w rWr Who purchased his or her Affordable 1-101sSirtg Unit v,rithraut aaet.tarala cean.struaa tip at eaa'
regotlaatori. notice ofthe 1ac.sta>ttEiaal <applicabiluty of<a greater pe c.,entaa e fee,
Lan ua e Conferring Monroe County Free Legislative Discretion to Amend Subject Ground Lease's
"Affordable Restrictions"?: Yes, at Article 1- Definitions.
'•Affor°dable Restrictions ' -.,hallmeaan the arffordable or etaploy ee hou sing, regniaticrns
Las .set forth in Chapter 9.5 and any other applicable Sections (if the Monroe County Land
17eveloprtaeat Regulations or County Cade, as herveinafteramcrided, except that in no eaent
shall tileLessor decrease the lawwfialdy permissible sales price fc r rasa Affordable Housing Unit
to less than i he specified sales price for moderate income housing as set fearth in the land
Development Rrgralationa in effect at the time of execution of this [.ease where the effect
upon an no ner,rSublessee, mortgage e aw ould be to digest such person or entity of value [upon
which such person reasonably and fairlyv I died- to theao detrienrent. Thesahs�race of the
Affordable Restrictionsmazy he freely amended in the Lessor's legislative discretion,
partiruLarit Frith respect to administrative, naernitoring and enforcement mechanism—,, heat
any, such amenchrient shall not materially diminish the lax+,fully established and equitably
vested resale. value, or the reasonable alienability ofan Afford able. (lousing Unit, However,
Lessor may, restrict Affordable Housing unit resales and rentals to use as ®ianployee
Housing- as definers in the Affordable Restrictions, as amended beast, titre to time: -
Moreover, Lessor nrayestrablish in its Affordable Restrrctirrns "means" ear41a.S.Setsll criteria
that limit potential buyer or rental pools. Any such amendment shall not infreaase Initial
Lessee's msponsibilitua as set forth hcrciaa. It is the intent and purpose and shall be the
effect of this Lease and any Affordable Restrictions to ensnare that the affordability of
Affordable Housing Units and dedicated real property upon which; they are lox:aated is
traaaintainw d and enfoareed Such that an administrative rulaa, ptilley or interpretation thereof,
made ley lessor or its designees relating to the maximum total aarnount ofconsiderition and
cost permitted to be its any way involved in a purchase or rental transactioai (including but
not limited topurxhaseprice lease ,a signment fees, rents orn nvother compensation given
or received its or 'outside" cif a related transaction) shall never exceed the affordability
criteria real nabfyesta blishad by Monroe County for the dwelling units involved. in every
case., the c€anstruenon and interpretation cif tenses, conditions and restrictions imposed by
this Lease and the Affordability Restrictions Shall be made in €av°orof an interpretation that,
ensure-s long term affordability banetits for the respective housing msourees inure to tlae
Nmefit of Monroe County, its economy and its community character.
With the exception of the initial Salesby initial
IRSSM where the Lessor authorizes Wes of units for intlividualhome-ownership purposes,
the Lessor or its designee shall be entitled to charge three and one-half percent (g •) of
the Purchase Price (guess compensation however described) for any transferred interest
(outer than simple -urity mortgage interests or rental agreements) in which Tx csr
identified the patrmimsrer, as an administrative fete for coordinating the closing on any
Affordable Housing Utli t, said fcnto be paid by the sefling,Unit Owner at the tur e of elosing,
'l"Itas fee doositot include other seller and buyerelosing related cos9s such as title insurance,
documentary°starrips,intangible tams, prorated taxes, realMatecearrstxntssiorir,ittatararace,
la rnee�va tern' a saglt nt , loan "Perises and the like, or rental management or processing
fetes for rental units, In the event Lessor was unable' to ideat fg,° a purchaser, Lessor;shall
still beentitled to an administrative fee of onare and one—ltatlf percent (t 14 %) of the Purchase
Price for review of the. contract and assistance with coordinating the closing earl the,
Affordable Housing Unit, differ the initial sales by, Initial Lessee, the E., sr or its designee
shall be authorized to designate closing, a rowa nd title agents involved in all trart aetions
involving interests subject to this Lease, After the initial sale of each Afforftble Housing
Unit by Initial Lessee, Lessor or its designee may, initially and from tirne to time, e>ataabfiah,
promulgate, revise and/or aa, aaive all or part of such fees related. to the administration tion of this
1 V..a se and any Subleases, but in no event may ear increase the amount of the
administrative fev, to an amount in excess of three and riney-half percxort f3 IA ) for an
owner who purchased his or her affordable Housing Unit without Tactual, constructive or
regulatory notice of'the potential, applicabilky of a grater percentage fee.
Language Conferring Monroe County Free Legislative Discretion to Arnend Subject Ground Lease's
"Affordable Restrictions"?: Yes, at Article I - Definitions.
"Affordable ptestrictions" Aall ream the affordable or employee housing regulations
as set forth in Chapter 9,,,s and anv other applicable sections of the Monroe Coumt ,, Lund
lDevelopmt nt he it lticons aircountyr (..ode, as hereinafter amended, except that in no event
shall the lessor materiilly- and adversely alter the obligations or rights of Lessee Under this.
1 ase, or decrease the lawfully pertnissitile sales price or rental rate for an Affordable
Housing unit to less than the specified sales price or rental mates for moderate laconic
hcousin,g aas &(A forth in the Land rNwelop pent Regulations in effect at then nmeof execution
of this tx ase wherea the ufiect upton our ovwtnerf 5aahless ¢ ragearf zag vwcaatldbetodivest such
person or ent �v of value upon which :steep person reasonably ably aanal fauirly relied to their
detriment. The substance of the Affordable Restrictions may be freely amended in the
1. sor's legislative discretion, particularly with recpeci to adininim.rattiv e, monitoring and
enforcement mechar kris but arty such araa,rarsdment shall not materially diminish the
lawfully established and e€ uilably vested: resale value or the. wdstianaMble alienability of
"home -ownership" Affordable Housing Baits, or in the case refrentaal--ardy units or prcajeLls,
such as the one contemplated herein, shall not materially and adversely diminish or
interfere with the Lessee's substsantiva benefits conferred underthis Lcararnveaiits non-
admini:straative terms- However, Lessor may, restrict Affordable Ht n.using Unlit resales and
rentals to use aas'Employee 1lousing'asdeftn,edinthe AffbotckNe Restrictions,aasamended
fronn I.imeA to time (though not in conflict with Lill l'"C requirements),. Maroover„ Lessor may
establish in its Affordable Restrictius "arsons" car"assets' criteria that limit ptoten, Baal buyer
or rental pools. Anysuch amendment shall not increase InitialLessee's responsibilities as:
set forth herein. it is the intent and purpose* and shall be the effect of than Lease and any
Affordable Restrictions to ensure that the affordability of Affordable Housing, Units and
dedir.atedd real paroyiert;y upon which they are is maintained. and enforced such than
any administrative rLde, policy or interpretation there -of, roade by fessor of its designees
relati rig to the maximum total amount of consideration and cost permitted to be in anyway
involved in a purchase or rental transaac.Fion (including but not lirtrated to purchase price,
lease assiguriaerafees, rents or any othevrcompensationgiv=en or ive€ inor'outside"ofa
related transact:ionr) shall never exce-M the affordacbilih? criteria reasonably establislsed by
Monroe County for the dw lli% units involvext to every esaw, , the construction and
interpretation of terms, conditions and restrictions imposed by this use and the.
,kffrardability Restrictionsshall be made in favor of ensuring that long terns affordability,
benefits for the re-Vective housing resources inure to the benefit of Monroe County, its
economy and its community character, In all cases of conflict between local and federal
DFITC rental, tenant eligibility and azthergmi clines, l sse:es shall Lw entitled to adhere to
governi.rig federal (1.11T`17 } requirements avithout being deemed in breach of this Lease, 01,
the Affordable Pestrsctions,
tz _A
Lct8_Ad s r ti ? . Lesser` may not charge more than one half of one
percent (,00S%) administrative fee based on the sales price for the transfe • trf
improvements from one slrfi3 see to another..
Language Conferring Monroe Countv Free Legislative Discretion to Amend Subject Ground Lease's
"Affordable Restrictions-?: Yes, at Article I - Definitions,
"Affordab[eRestrictions"shall mean the-aklnrdableorempl yceiicnisingregulatior)s
Rage sl Of 45
asset forth in a:pplicablesections ofthe Mon roe County Land Development Regulations or
Count,,, Code, as hereinafter .amended, except that in no event shall the Lessor materially
and adversely ° alter the obligations or rights of lessee under this Lease or decrease the.
lawn fully permissible salesprice or rental rate. for an Affordable Housing using Unit to less than
the slaecifced sales price or rental ratesfor moderate income housing asset forth in the Land
Development Regulations in effect at the time of execution of this Lease where the effect
upon an owner/Sublessee/mortgagee would betodivest such person or. entity 0tvalue upon
which. such person reasonably and fairly relied to their detriment The substance of the
Affordable Restrictions may be freely amended in the Lessor's legislative discretion,
particularly with respect to administrative, monitoring and enforcement mechanisms, but
any such amendment shall not materially diminish the lawfully established and equitably
v.%t€>d ix —sale value or the reasonable aheanalrilita +�f"home-nwaaer tails"Afforda ale Housing
Units, or in the case of rental -only units or projects, shall not materially and adversely
diminish or interfere with the Lessee's substantive benefits conferred under this Lase or
any ofits non-a<hm stra6ve terms. I-lorwevver, Lessor restrict Affordable HoiLsing Unit
resales anti rentals to use as 'Employee Housing" as defined in the At`fordable Restrictions,
as amended from time to time, Moreover, Lessor may establish, in its Affordable
Restrictions means" or"asset5" criteria that limit potential buyer orrental pools. Any -such
amendment shall not increase Initial Lessee's responsibilities as set forth herein, It is the
intent and purpose and shall be the effect of this Lease and any Affordable restrictions to
erasure that the affordabil ity of Affordable Housing Units and dedicated real property upon
which they are located is maintained and enforeed such that any adrniuistrative rule, policy
or interpretation thereof, made by Lessor or its designees relating to the maximum total
amount of consideration and east permitted to be in any ways involved in a purchase or
rental transaction ('including but not limited to purchase price, lease assignment fees, rents
or any other compensation given or received in or'outside" ofa related transaction) shall
newer eNceed the affordability criteria reasonably established by Monroe County for the
dwelling snits in-volved. Iu every case, the construction and interpretation of terms,
conditions and restrictions unposed by this Lase and the. Atlfordaltllity Restrictionssball be
mach: in favor of ensuring that lung term affordability benefits for the respective, housing
resource.-, inure to the benefit of Monroe County, itseconon-ty and its com munity character
r l a cad... s astrat� Lessee mky not charge more than one half of orte
percent (.c)caS%) administrative fee based on the spies price for Lbe transfer of
improvements from onesublessee to anothm
Lan ua_e Conferring Monroe Count Free Legislative Discretion to Amend Subject Ground Lease's
"Affordable Restrictions"?: Yes, at Article I - Definitions,
"Affordable H trictions"shall meantbeaffordable or t,.;iip4loycielioi3,giiigregulatiorts
as set forth in applicable sectionsof the Monroe County Land Development Regulations Or
County Cade, as hereinafter amended, except that in no event shall the. I.esszar materially
and adversely alter the obligations or rights of Lessee tinder this tease or decrease the
lavvfullyr permissible sales price or rental rate for an Affordable dousing Unit to less than
the specified saaks price or rental rates for moderate income trcrtafiiaag;ars set forth in the Land
Development Regulations in effect at the time or execution of this tea -se. where the effamti
Palle 4 o€.16
etpranaaar�oaner Sttblessre;?traartgage�iveaslddretcitiinestsuchperutrsCara:.s'utit' aftialoe:itpon.
which such person reasonably and fairdy re lied to their detriment. The substance of the
Affordable Restrictions nnay, be freely" amended in the Les. r, legislative discretion,
particularly with respect to administrative, ttacanitoring and enforcement mechanisms, but
ariv shich anaendmerit shall not materially diminish the la w•9utliv established and equitably
vested re&tali; value or the reasu nable alienability of"home-cave n€ rship" Affordable 14ousitng
[:nits, or in the case of rental -only units or prnlect , Shnil nett materially and aadrer ly
daatairn`ssh or interfere chitin the Lessee's :roubstantive benefits conferm' d tinder this base or
naay of its rton-aciaazlnistrativfe tereaas, However, Lessor may restrict Affordahlo Housing Unit
remles and rentals to use as" Employee Housing" as defined in the Affordable Restrictions,
as amended from time to time. Moreover, lessor may establish in its Affordable
Restrictions "inea.ns" or`°asse;ts" criteria that limit poundal huy-erorrental pools. Any such
amendment shall not increase Initial Lessee's responsibilities as set forth herein. It is the
intent and purpose and sh ll be the effect of dais tease and anyAffordable Restrictions to
erasure that the affordability, of A€t'ordable Hot tying Units and dedicated read property upon.
which they are located is maaintaitaed and enforced such that any administrative rotor, policy
or interpretation thereof, n e&, by lessor or its designees relating to the m aximiArn total
amount of consideration and cost permitted to be in any. way invraNe in a purchase or
rental transaction (inchiding but not limited. to purchase price, lease as-sigrarnent fees, rents
or any anther compensation given or received in or'outside" of a related transaction) shall
never exceed the affordability criteria reasonably established law Monroe County for the
dwelling units involved.. in eery, erne, the construction and interpretation of terms,
conditions and restrictions imposed bythialt lase and the a'affordahilingRestriationsshaltlbe
made in flavor of ensuring that Icing terra affordability benefits for the respective houasinig
resources inure to the benefit of Monroe County, its ecttanomy and its.corninutnitycharacter
In
10/20/2015
7 *r
A rO19701191 A 't R 4
'+Overseas
"O��
Marathon, F1 33050
X =�
we have found buyerand w. purebm R 1! =, :.... � i..4i 7 . R m execute& tl,
to the
Chad provided N !R= (rat theCounty' ! ' R = *' ^ ["i - 1, `� R RR ,�
! CA 1Y;{�
' s R`:'►_R r't °�.1M .gM r ► -,R,_ R'+ .c�R
. ! f" + . 1 ♦. � R R ;►_<J1 # R i R ,,:' P • 4r 4� 1 :. Rom' l 3 -- R ki <<^tl �` �.1 . R -C. R.,,
l `!��' 7; R R R„'�M "�" R r �� 1 I'}: :!'1' R S►" '. R' 1
We would
R R G,ir` fllY requestR S the
R e i W:,- A R RFeebe waiva it is
• r : ii r FdtR i 12.08fthe I Xm-w:a� ► .. �.t; �:r R � `si if f :
I,A .:RF 4 'I 'R �. R ..:R 1,rs: R. ,.R "Ri" R+Ru �i RR T lua R•
�f".' R 'R:4'♦ . '�. 1 ,'� tau "�,,. t1,:{
Sincerely
r,.. m,
t �` W
-7w4-1 T
(44anjugDepartment
Marathon, FL 33050
Vo89-2500
FAX: (305) 289-2536
25 Calle Uno
Key West, FL 33040
County of Monroe
Growth Management Division
Board of County Commissioners
Mayor Danny Kolhage, Dist, I
George Neugent, Dist, 2
David Rice, Dist.4
Silvia Murphy, Dist, 5
We shive to be caring, professional andfair
The Planning Department has completed the review your Affordable Housing Application, for
#)roperty described as follows:
mzm!�
1) The Affordable Housing Deed Restriction is recorded in the Monroe County Public Records.
2) The applicant(s) qualify under the current income allowances based on submitted
documentation for a household of 6.
3) The contract is within allowance,
4) The Certificate of Occupancy was issued on 5/29/2008, as indicated on Building Permit
07103428.
Based on the documentation submitted, I am pleased to let you know that your application for the
household qualifies for the Affordable Housing Program. However, be advised that this approval
is valid to May 1, 2016, unless the property is homesteaded by that time, If you are not
homesteaded you may be required to re-q.alify,
The review of your affordable housing application approval considers only County code provision
289-2513,
am=
AF14 approval Barter Itr 10.20,2015.doc
Doen 16470 i 12/2007 4 : 47 M
Filed & Recorded its Official Records of
MONROE COUNTY DANNY L m KOLKAGE
Doc# 1647623
2301 P9
LEASE
BEIWEEN
MONROE COUNTY
"LESSOR"
AND
ISLANDER VILLAGE, LLC
"LESSEE"
DATED April 18, 2007
Doag 1647623
2301 PgN 389
operation of this Lease and the Affordable Restrictions, it being expressly and irrevocab
accepted on behalf of all future Sublessees and all -those who would or might succeed
their interests, that these Demised Premises and each and every portion thereof, for t
entire Terin of this Lease, are to be used as affordable housing according to the Affordab
Restrictions. In the event the spouse, heirs, devisees, legatees or beneficiaries of a deceas
Owner do not meet the requirements for affordable housing, such persons shall not occu
the remises and shall not be entitled to os A imn]
F-essor i
accomplishing sarne. It is the intent of this Lease, to the ftill extent Florida law permi
that constitutional homestead rights not be construed to inhibit or limit the intende
operation of this provision.
Section 12.o8 Administrative Fees. With the exception of the initial sales by initial
Lessee
%) of the Purchase Price (gross compensation however described) for any transferred
interest (other than simple security mortgage interests or rental agreements) in which
fees for rental units. In the event Lessor was unable to identify a purchaser, Lessor shall
Price for review of the contract and assistance with coordinating the closing on the
Affordable Housing Unit. After the initial sales by Initial Lessee, the iessor or its designee
shall be authorized to desianate cl *sin e V14
Lull 1M MWERNMIMBIUM. M. NXIMMMM.M. WMIN
ON
'67 7 !C�'7 ZM WE �Val L 411 bUU11 ICCb LCEILell to Lne McaunisiLrarl
�ease and any Subleases, but in no event may Lessor increase the amount of the
administrative fee to an amount in excess of three and one-half percent (3 Va %) for an
owner who purchased his or her Affordable Housing Unit without actual, constructive or
regulatory notice of the potential applicability of a greater percentage fee,
ARTICLE XIII
Section 13.ol Eminent Domain, Cancellation. If, at any time during the continuance
of this Lease, the Demised Premises or any Dortion thereof is taken, appropriated or
condemned by reason of eminent domain, there shall be such division of the proceeds and
awards in such condemnation proceedings and such abatement of the Rent and other
nk
_T
:.__T
IM
j Ssi,
_7T_
----- _T
ca
11
T
I
T
11
1
1
1 1
mll
1
A
1
1 L
L
3
_
s
B
6
3
R
m 6gyFl
�
.Hza
Hill
R
5
y6
F
„
x
x
F
�
IT
ITTI
�
ry