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
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