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Item C3 LAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date: December 14,2000 Bulk Item: Yes No X Department: Land Authority Agenda Item Wording: Approval of a resolution authorizing the purchase and conveyance of property for the purpose of providing affordable housing in partnership with Habitat for Humanity of Key West and Lower Florida Keys, Inc. Item Background: This item is proposed to assist Habitat for Humanity of Key West and Lower Florida Keys, Inc. (HFH) in providing affordable housing in the form of single-family homeownership. The subject property consists of 15 lots in Palm Villa subdivision on Big Pine Key. The trailer park on this site was severely damaged in Hurricane Georges and now has the rights to redevelop a total of 40 units exempt from ROGO (15 single-family homes on site and 25 transferable ROGO exemptions off Big Pine Key). Once this property has been purchased, the Land Authority will subsequently impose 50-year deed restrictions and convey the property to HFH for development with 15 single-family homes. HFH will in turn sell the homes to persons having household incomes of 100% or less of the county median (currently $49,300 per year) and otherwise qualifying under HFH's selection criteria and Monroe County regulations. Principal, interest, taxes, and insurance (PITI) payments will not exceed 30% of the applicable household income category. Based on the current income statistics for Monroe County, maximum monthly PITI will be $1,230 for median income families, $986 for low income families, and $616 for very low income families. The actual PITI may be lower, depending on the availability of other grant funding. The remaining 25 transferable ROGO exemptions (TREs) associated with the property will be used for future affordable housing initiatives at locations yet to be determined. Negotiations are underway and additional documentation will be presented at the Board meeting. Advisory Committee Action: To be determined. Previous Governing Board Action: On October 19, 2000 the Board approved adding the Halcyon Trailer Park site to the Acquisition List. Staff Recommendation: Approval. Total Cost: $ To be determined Budgeted: Yes No Cost to land Authority: $ To be determined Approved By: Attorney ~ OM~IPurc~~ ~ Executive Director Approval: ~. \ ~ark J. Rosch Risk Management Documentation: Included: X To Follow: X Not Required: Disposition: Agenda Item LA #3 RESOLUTION NO. A RESOLUTION OF THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING THE PURCHASE AND CONVEYANCE OF PROPERTY FOR THE PURPOSE OF PROVIDING AFFORDABLE HOUSING IN PARTNERSHIP WITH HABITAT FOR HUMANITY OF KEY WEST AND LOWER FLORIDA KEYS, INC. WHEREAS, section 380.0666(3), Florida Statutes (FS) and section 9.3-2, Monroe County Code, empower the Monroe County Comprehensive Plan Land Authority (hereinafter "Land Authority") to acquire an interest in real property for the purpose of providing affordable housing to very low, low, and moderate income persons as defined in section 420.0004, FS, where said acquisitions are consistent with a comprehensive plan adopted pursuant to Chapter 380, FS; and WHEREAS, Habitat for Humanity of Key West and Lower Florida Keys, Inc. (hereinafter HFH) is a not-for-profit Florida corporation and an approved affiliate of Habitat International and is organized to provide safe, decent, and affordable housing to people in need within the Lower Keys and Key West; and WHEREAS, representatives of HFH presented an affordable housing proposal for the Halcyon Trailer Park property to the Land Authority Advisory Committee and requested that the Land Authority participate in the proposal by purchasing the site; and WHEREAS, the Land Authority Advisory Committee and Governing Board have approved adding the property to the Land Authority's Acquisition List; and WHEREAS, the Land Authority Advisory Committee considered this resolution at a meeting held on December 7, 2000 and recommends ; NOW, THEREFORE, BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY: Section 1. The Chairman of the Land Authority Governing Board is hereby authorized to sign the contract approved by the Land Authority Advisory Committee for the purchase of the Halcyon Trailer Park property, more particularly described as Block 1, Lots 1-15, Palm Villa subdivision (PB 1-89) on Big Pine Key (hereinafter "subject property") at a purchase price of $ Section 2. At closing, the Chairman of the Land Authority Governing Board is hereby authorized to sign a deed conveying the subject property to HFH. Said deed shall restrict future use of the property to the guidelines specified in Section 3 below. Section 3. Future use of the subject property is limited to 15 single-family residential units for occupancy by very low, low, or moderate income persons as defined in section 420.0004, Florida Statutes, for a period of fifty (50) years, and as further restricted by Monroe County regulations and the guidelines in Attachment A. [Attachment A to be completed] Page 1 of 2 PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a regular meeting on this day of 2000. (Seal) ATTEST: Mark J. Rosch Executive Director Approved for Legal Sufficiency Larry R. Erskine MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY Nora Williams Chairman Page 2 of 2 C3 C2~ Oeo ~ u. w ~ ;;f~~ <( o C2 o ~ u. u. o ~ ~ li; :::ell) :2'" w O~ a~ :::l o ~~ u. <( ffi9>- 3:C!::w o<(:::.c: ~<!) :::l IJ) :::eo :2.... :::ell) :E "" / ([S-M J1~n' (,~ Iv, \1))\\ II II \\))\\'<I )i~ ml- 10 . . , . ~ -U'-R'M-- --- ---- - - I V 1-'- I I -- . -:--- -z -~----~ -----' .. ~ 1M I I ~ 112111 0;: I ~I ~ 11$ ~, ~ PARK I I 112 11, 10 . . ! 7 ! . j 1.11. I I ! 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