Item C2a
lAND AUTHORITY GOYERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: October 19,2000
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of contracts to purchase property - Maloney subdivision.
Item Background: This purchase is proposed to provide land for the development of affordable
housing. The subject property is 9 lots in Maloney subdivision on Stock Island consisting of filled land
with no native vegetation. The property is zoned Mixed Use (MU) and designated Mixed
Use/Commercial (MC) on the Future Land Use Map. This site could be developed with 9 affordable
single-family homes as of right or with 7 duplex units as a major conditional use. The site is also eligible
to be a receiver site for transferable ROGO exemptions. Habitat for Humanity has expressed interest in
partnering with the Land Authority on this site and building single-family units for homeownership. The
Monroe County Housing Authority has also expressed interest in partnering on this site and building
single-family or duplex rentals in the event Habitat for Humanity declines to partner.
The Land Authority's standard purchase contract will be used for this purchase. The property's current.
assessed value is $145,800. The agenda packet spreadsheet lists the legal description, purchase
price, and closing costs for this transaction.
Advisory Committee Action: On 9/27/00 the Advisory Committee voted 5/0 to approve the purchase
price shown in the agenda packet spreadsheet.
Previous Governing Board Action: This site is one of the potential affordable housing sites approved
by the Board on March 16, 2000, while sitting as the County Commission.
Staff Recommendation: Approval.
Total Cost: $ 232,431.00
Budgeted: Yes X
No
Cost to land Authority: $ 232,431.00 .
Approved By: Attorney ~
OMB/Purchasing
Risk Management
Executive Director Approval:
A(~~
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #2a
PURCHASE CONTRACTS
10/19/00
Purchase Environmental Title Attorney Recording Acquisition
Property Price Audit Insurance Fee Fee Total
Maloney Subdivision (PB 1-55)
Block 53, Lots 32-40 $225,000.00 $5,000.00 $1,300.00 $1,125.00 $6.00 $232,431.00
Bounty Fisheries, Ltd.
Acreage Parcel on Key Largo
RE #00088270 $630,000.00 $5,000.00 $3,325.00 $3,150.00 $6.00 $641,481.00
Thatcher/Richardson
Long Beach Estates (Unrecorded Plat)
Section B, Lot 4 $155,000.00 $5,100.00 $950.00 $775.00 $6.00 $161,831.00
RE #112270-000100
Mattia
Cutthroat Harbor Estates (PB 4-165)
Block 5, Lot 33 $3,174.00 N/A $200.00 $250.00 $6.00 $3,630.00
Miller
Block 1, Lot 2 $3,174.00 N/A $200.00 $250.00 $6.00 $3,630.00
Bahrs
Subtotal $6,348.00 N/A $400.00 $500.00 $12.00 $7,260.00
Total
$1,022,696.00
N/A
$6,375.00
$6,050.00
$42.00
$1,050,263.00
FY 00 Preservation 2001 Fund
Less Previous Encumbrances
Less Proposed Encumbrances
Unencumbered Balance
$8,500,000.00
$0.00
($1,050,263.00)
$7,449,737.00
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