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Resolution 463-2002 . Commissioner Jimenez RESOLUTION NO. _4~ -2002 A RESOLUTION DIRECTING THE COUNTY ATTORNEY AND DIVISION OF GROWTH MANAGEMENT TO PREPARE AMENDMENTS TO THE MONROE COUNTY AFFORDABLE HOUSING DEED RESTRICTION, MONROE COUNTY CODES AND LAND DEVELOPMENT REGULATIONS, IN ORDER TO PROVIDE LENDING INSTITUTIONS LIMITED RELIEF FROM SAID DEED RESTRICTION IN CONSIDERATION OF THE INCREASED AVAILABILITY AND IMPROVED TERMS FOR MORTGAGE FINANCING TO QUALIFIED HOMEBUYERS. WHEREAS, Monroe County desire to facilitate the production, rehabilitation and preservation of affordable housing, both rental and homeownership opportunities, for very-low, low and median-income households throughout Monroe County; and WHEREAS, the existing Monroe County Affordable Deed Restriction provides legal covenants protecting affordability by deftning eligible income limits and monthly cost for potential buyers or tenants; and WHEREAS, the existing terms of the Monroe County Affordability Deed Restriction prohibit potential occupantlbuyers from obtaining the most favorable ftnancing, exposing said occupantlbuyers to greater housing cost than necessary; and, WHEREAS, Monroe County desires to examine how to facilitate balancing favorable ftnancing terms to qualifted homebuyers while aggressively protecting future and continued affordability; and NOW, THEREFORE, BE IT RESOLVED, by the Board of County Commissioners of Monroe County, Florida, that Monroe County hereby: Directs the County Attorney and Division of Growth Management, in cooperation with, and support from local lending institutions, the Monroe County Housing Authority, Florida Department of Community Affairs and Fannie Mae, to prepare amendments to the Monroe County Affordable Housing Deed Restriction, Monroe County Codes and Land Development Regulations in order to provide lending institutions limited relief from said deed restriction, in consideration of increased availability and improved terms for mortgage financing to qualified homebuyers. PASSED AND ADOPTED, by the Board of County Commissioners of Monroe County, Florida at a regular meeting on said Board on the 16th day of October, A.D., 2002 BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTYFLOIDDA Mayor McCoy Mayor Pro Tern Spehar Co /.' ugent - a 1S~n~~dson ~~ ;'.:F~.' s~~<m. e.r Jimenez If c; 1'(;,. :'_'; U~#):; f{<;> '< -~gr:; j~c~tCJ~~L~ Approved ~ to form and legal SuffiCien~ _ yes yes yes yes yes