Item G4 G.4
G BOARD OF COUNTY COMMISSIONERS
County of Monroe Mayor Sylvia Murphy,District 5
The Florida Keys l'U � � Mayor Pro Tern Danny Kolhage,District 1
�pw° Michelle Coldiron,District 2
Heather Carruthers,District 3
David Rice,District 4
County Commission Meeting
July 17, 2019
Agenda Item Number: G.4
Agenda Item Summary #5787
BULK ITEM: No DEPARTMENT: Land Authority Governing Board
TIME APPROXIMATE: STAFF CONTACT: Charles Pattison (305) 295-5180
9:15 AM Land Authority
AGENDA ITEM WORDING: Approval of an option contract to sell 12 affordable housing lots on
Big Pine Key and Little Torch Key to the Monroe County Housing Authority
ITEM BACKGROUND: The Land Authority, Monroe County, and the Monroe County Housing
Authority are partnering to develop a 12-unit scattered-site workforce affordable housing project on
Big Pine Key and Little Torch Key. The project will consist of 12 two bedroom, two bathroom,
single-family rental units for households earning 80% or less of area median income. The hard
development costs for the project are currently estimated at $2.4 million. The proposed funding
source for all of the project development costs is Community Development Block Grant — Disaster
Relief(CDBG-DR) funds from the Florida Housing Finance Corporation (FHFC). In this project the
Housing Authority will serve as the owner, developer, and applicant for the CDBG-DR funds.
The land for the project consists of 12 previously developed, ROGO-exempt lots the Land Authority
purchased over the past nine months specifically for affordable housing. The proposed option
contract will allow the Housing Authority to demonstrate site control in the grant application. The
sales price is $1,353,989, which corresponds to the Land Authority's acquisition costs up to a
maximum of each lot's appraised value. The option period runs from July 18, 2019 to March 31,
2020 and the transaction closing is contingent upon the Housing Authority receiving $1,353,989 of
CDBG-DR land acquisition funding from FHFC.
ADVISORY COMMITTEE ACTION: On June 26, 2019 the Committee voted 4/0 to approve
selling the subject property at a price of $1,353,989 to the Monroe County Housing Authority for
development with affordable housing.
PREVIOUS RELEVANT BOCC ACTION: N/A
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: Approval
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G.4
DOCUMENTATION:
AerialPhotoOf-lousingSites
OptionContract
FINANCIAL IMPACT:
Effective Date:
Expiration Date:
Total Dollar Value of Contract:
Total Cost to County:
Current Year Portion:
Budgeted:
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: If yes, amount:
Grant:
County Match:
Insurance Required:
Additional Details:
REVIEWED BY:
Charles Pattison Completed 07/01/2019 4:21 PM
Kathy Peters Completed 07/01/2019 4:24 PM
Board of County Commissioners Pending 07/17/2019 9:00 AM
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OPTION AGREEMENT FOR THE PURCHASE OF LANDS
THIS AGREEMENT is made and entered into this day of 2019, by 311
and between
Monroe County Comprehensive Plan Land Authority
(hereinafter "Seller(s)"), for themselves, their heirs, executors, administrators, successors and
assigns, and MONROE COUNTY HOUSING AUTHORITY (hereinafter"HOUSING AUTHORITY").
WITNESSETH:
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1. The Seller(s) hereby grant to the HOUSING AUTHORITY the exclusive option to purchase certain a.
lands upon the terms and conditions hereinafter set forth, for all of the lands and other interests, 2'
which lands shall include all tenements, hereditaments, together with all water and other rights,
easements, appurtenances, and any and all of the Seller's rights in or arising by reason of U)
ownership thereunto belonging, owned by them, situate and lying in the County of Monroe, State
of Florida, more particularly described as follows; to-wit:
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12 subdivision lots on Big Pine Key and Little Torch Key, more particularly described
in Exhibit A.
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The consideration for the option granted by this Agreement is $10.00 in hand, paid by the
HOUSING AUTHORITY, the receipt of which is hereby acknowledged (hereinafter "Option
Payment"). The period covered by the option shall commence on July 18, 2019 and shall expire cm
on March 31, 2020 at 5:00 pm (hereinafter "Option Period"). The HOUSING AUTHORITY shall
have the right to exercise the option by providing the Seller(s) written notice (hereinafter "Option
Notice") and to close the real estate transaction at any time within the Option Period.
2. The Seller(s) agree that they have full right, power and authority to convey, and that they will
convey to the HOUSING AUTHORITY the fee simple title together with legal and practical access 0
thereto clear, free and unencumbered, except subject to the following easements or reservations:
Existing easements for canals, ditches, flumes, pipelines, railroads, public highways and roads,
telephone, telegraph, power transmission lines and public utilities.
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The HOUSING AUTHORITY, at the HOUSING AUTHORITY'S expense, within the time allowed to
deliver evidence of title and to examine same, may have the real property surveyed and certified
by a registered Florida surveyor. If the survey discloses encroachments on the real property or
that improvements located thereon encroach on setback lines, easements, lands of others, or
violate any restrictions, contract covenants, or applicable governmental regulations, the same
shall constitute a title defect.
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Seller(s) shall convey a marketable title subject only to the aforementioned liens, encumbrances,
exceptions or qualification set forth herein. Marketable title shall be determined according to
applicable title standards adopted by authority of the Florida Bar and in accordance with law. The
HOUSING AUTHORITY shall have sixty (60) days from the date of Option Notice in which to
examine title. If title is found defective, the HOUSING AUTHORITY shall, within this specified time
period, notify Seller(s) in writing specifying defect(s). If the defect(s) render title unmarketable the
Seller(s) will have one hundred twenty (120) days from receipt of notice within which to remove
the defect(s). The Seller(s) will use diligent effort to correct defect(s) in title within the time
provided therefore, including the bringing of necessary suits, failing which the HOUSING
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AUTHORITY shall have the option of either accepting the title as it then is or rescinding the
Agreement herein. 311
3. The Seller(s) further agree not to do, or suffer others to do, any act by which the value or title to e
said lands may be diminished or encumbered while this Agreement is pending. It is further agreed
that any loss or damage occurring prior to the vesting of satisfactory title in the HOUSING
AUTHORITY by reasons of the unauthorized cutting or removal of products therefrom, or because
of fire, shall be borne by the Seller(s); and that, in the event any such loss or damage occurs, the
HOUSING AUTHORITY may, without liability, refuse to accept conveyance of said lands.
4. The Seller(s) further agree that during the period covered by this instrument officers and e
accredited agents of the HOUSING AUTHORITY shall have at all reasonable times the
unrestricted right and privilege to enter upon said lands for all proper and lawful purposes, a.
including examination of said lands and the structures upon them. 2'
5. The Seller(s) will execute and deliver upon demand of the proper officials and agents of the U)
HOUSING AUTHORITY a good and sufficient deed of warranty conveying to the HOUSING
AUTHORITY a marketable title to the said lands of such character as to be satisfactory to the legal
counsel of the HOUSING AUTHORITY and said deed shall provide that the use, occupation and
operation of the rights-of-way, easements and reservations retained therein, shall be subordinate
to and subject to such rules and regulations as may be prescribed by the HOUSING AUTHORITY
governing the use, occupation, protection and administration of lands.
6. The purchase price for said lands and other interests, subject to adjustments and prorations, is
$1,353,989.00. The HOUSING AUTHORITY further agrees that, after credit for the Option CM
Payment, after the preparation, execution, and delivery of the deed, and after the legal counsel of
the HOUSING AUTHORITY shall have approved the title thus vested in the HOUSING
AUTHORITY, it will cause to be paid to the Seller(s) the balance of the purchase price. The
HOUSING AUTHORITY shall pay the following expenses associated with the conveyance of the
property: deed recording fees, settlement fees, abstract fees, title examination fees, the Buyer's
attorney's fees, and title insurance, as well as the prorata share of prepaid real property taxes 0
allocable to the period subsequent to the vesting of title in the HOUSING AUTHORITY, or the
effective date of possession of such real property by the same, whichever is earlier. Full
possession of the premises shall pass to the HOUSING AUTHORITY as of the date payment is
made to the Seller(s) subject only to the reservations stated in Section 2 above.
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7. It is mutually agreed that an abstract, title insurance policy or other evidence of title to the property
herein contracted to be sold, satisfactory to the legal counsel of the HOUSING AUTHORITY will
be obtained by the HOUSING AUTHORITY at its expense. The Seller(s) expressly agree herein
to furnish to the HOUSING AUTHORITY any documents in Seller(s)'s possession establishing
evidence of title including, but not limited to, abstracts, title commitments, title policies and
opinions of title.
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8. It shall be the obligation of the Seller(s) to pay all taxes and assessments outstanding as liens at
the date title vests of record in the HOUSING AUTHORITY, whether or not such taxes and
assessments are then due and payable.
9. It is mutually understood and agreed that notice of acceptance of this Agreement shall be given to
the Seller(s) by mail addressed to the Seller(s) at the following address:
1200 Truman Avenue, Suite 207
Key West, FL 33040
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and shall be effective upon date of mailing and shall be binding upon all of the Seller(s) without
sending a separate notice to each, except as such obligation may be affected by the provisions of 311
paragraph 6 hereof.
10. It is mutually understood and agreed that the HOUSING AUTHORITY may not assign this
Agreement.
11. Unless waived by the HOUSING AUTHORITY as to one or more existing tenants, the property
shall be delivered at closing free of any tenant or occupancy.
12. The effective date of this Agreement shall be that date when the last one of the Seller(s) and the
HOUSING AUTHORITY has signed this Agreement. a.
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13. If the Seller(s) wish to proceed with this transaction, the Seller(s) have until July 18, 2019 to sign
and return this Agreement to the HOUSING AUTHORITY. This Agreement may be executed in U)
counterparts.
14. In the event the transaction is not closed within the Option Period, at any time thereafter both the
HOUSING AUTHORITY and the Seller(s) shall each have the right to terminate this Agreement by
providing written notice, at which point both parties shall be released of all further obligations
under this Agreement.
15. The HOUSING AUTHORITY'S remedy for default on the part of the Seller(s) includes or is
specific performance. cm
16. The parties agree to impose a perpetual Use Restriction or other similar Restrictive Covenant in
favor of the Seller(s) on the property title limiting use of the property to the provision of affordable
housing for qualified persons whose income does not exceed 160 percent of Area Median Income.
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17. Notwithstanding any provision of this Agreement to the contrary, the closing of this transaction is
contingent upon the HOUSING AUTHORITY'S receipt of Community Development Block Grant 311
Disaster Relief (CDBG-DR) land acquisition funding in an amount of no less than $1,353,989.00,
failing which the HOUSING AUTHORITY may terminate this Agreement by providing written
notice, at which point both parties shall be released of all further obligations under this Agreement.
IN WITNESS WHEREOF, the parties have hereunto signed their names and affixed their respective
seals.
MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY, acting by and through its
CHAIRMAN, has executed this Agreement on behalf of MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY this day of , 2019. a.
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Seller/ MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY
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ATTEST:
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Charles G. Pattison, Executive Director Heather Carruthers, Chairman
(Seal)
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MONROE COUNTY HOUSING AUTHORITY, acting by and through its EXECUTIVE DIRECTOR, has
executed this Agreement on behalf of MONROE COUNTY HOUSING AUTHORITY this day
of 12019.
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Buyer/ MONROE COUNTY HOUSING AUTHORITY
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J. Manuel Castillo, Executive Director
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EXHIBIT A
311
Property
IN uirn be r Address Legaill Description Isllaind RE Number
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1 30 Sands Road Metes and bouinds, NE 1/4 of S,26,T 66 S,, R 29,E Big Pine Key 00111320-00,1500
2 31235 Avenue E Block 35,Lot 3,Sands(P'B 1-65) Big Pine Key 00304810-00,0000
3 31059 Avenue G Block 46,Lot 6,Sands(P'B 1-65) Big Pine Key 00306540-00,0000
06
4 301 County Road Block 2, Lot 101, Dairios(PB 3-92) Big Pine Key 00300500-00,0000
5 31481 Avenue C Block 23,Lot 8,Sands(P'B 1-65) Big Pine Key 00302780-00,0000
6 31566 Avenue B, Block 10,Lot 11,Sainds(PB,1-65) Big Pi tie Key 010300790-00,000�O
7 31067 Avenue G Block 46,Lot 7,Sands(P'B 1-65) Big Pine Key 00306550-00,0000 S
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8 31423 Avenue G Mietes and bouinds.,Sands(PB 1-65) Big Pine Key 003060,00-00,0500 0)
9 31441 Avenue G Metes and bouinds.,Sands(PB 1-65) Big Pine Key 00306000-00,0800
10 31247 Avenue G Block 44,Lot 4,Sands(P'B 1-65) Big Pine Key 00306200-00,0000
0
11 28279 Julia Ave Block 1, Lot 101,Amended Nat of The Ladies Acre(P'B 5-96) Little Torch Key 010222840-00,000�O U)
12 31063,Avenue E Block 3,7,Lot 7,Sands(P'B 1-65) Big Pine Key 00305170-00,0000 0
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