Item C3
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: July 19, 2001
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of a resolution authorizing the purchase and conveyance of property
in Mandalay subdivision for the purpose of providing affordable housing in partnership with Monroe
County Housing Authority.
Item Background: This item is proposed to assist the Monroe County Housing Authority (MCHA) in
providing affordable housing for the long term in the form of rental units. The subject property consists
of 0.72 acre in Mandalay subdivision on Key Largo and is currently developed with one duplex. The
property is zoned Urban Residential (UR) and designated Residential High (RH) on the Future Land
Use Map. Based on this zoning, the site can be developed with up to 14 units (12 additional units) of
affordable housing. Once the property has been purchased, the Land Authority will subsequently
impose permanent deed restrictions and convey the property to MCHA for development. Using up to
12 of the 50 ROGO allocations the County Commission previously reserved for MCHA's scattered site
program, MCHA's tentative plans are to develop the site with up to 12 additional units clustered in
groups of 3 or 4 attached dwellings as housing for the elderly. The proposed deed restriction follows
MCHA's current affordability policy.
The Land Authority's standard purchase contract will be used, with the closing contingent upon
simultaneous conveyance of the property to MCHA. The agenda packet spreadsheet lists the legal
description, purchase price, and closing costs for this transaction.
Advisory Committee Action: On June 28, 2001 the Advisory Committee voted 4/0 to approve this
purchase. The Advisory Committee will review the proposed deed restriction on August 30, 2001.
Previous Governing Board Action: On May 17, 2001 the Board approved adding this property to the
Acquisition List.
Contract/Agreement Changes: NIA
Staff Recommendation: Approval
Total Cost: $ 333,431.00
Budgeted: Yes X
No
Cost to Land Authority: $ 333,431.00
Approved By: Attorney ~ OMBIPUrC~
Executive Director Approval: M., . 1
tiJark J. Rosch
Risk Management
Documentation: Included: X
Disposition:
To Follow:
Not Required:
Agenda Item LA #3
PURCHASE CONTRACTS
07/19/01
Property
Purchase Envr. Audit, Survey Title
Price or Clean-up Insurance
Mandalay subdivision (PB 1-194)
Part of Block 3 $325,000.00
RE#s 554720-000000,554720-000100
(Robillard)
$5,000.00
$1,800.00
Attorney
Fee
$1,625.00
Recording
Fee
$6.00
Acquisition
Total
$333,431.00
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING
THE PURCHASE AND CONVEYANCE OF PROPERTY IN
MANDALA Y SUBDIVISION FOR THE PURPOSE OF
PROVIDING AFFORDABLE HOUSING IN PARTNERSHIP WITH
THE MONROE COUNTY HOUSING AUTHORITY.
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, on June 15, 2000, the Land Authority Governing Board adopted Resolution 04-
2000 pertaining to Monroe County Housing Authority Plan 2000, which includes the strategy of
scattered site single-family and duplex rental housing as a means of providing long-term
affordable housing in a manner consistent with the community character of the Keys; and
WHEREAS, as a means of implementing the scattered site rental strategy, Resolution 04-2000
calls for the Land Authority to purchase vacant subdivision lots and convey same to the Monroe
County Housing Authority, subject to deed restrictions addressing affordability requirements;
and
WHEREAS, the Land Authority Advisory Committee considered the subject purchase at a
meeting held on June 28, 2001 and recommends approval by a 4/0 vote; and
WHEREAS, the Land Authority Advisory Committee considered the subject conveyance to the
Monroe County Housing Authority and associated deed restriction at a meeting held on
and recommends by a _ vote; 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 Land Authority's standard purchase contract for the purchase of Part of Block 3, Mandalay
subdivision (PB 1-194) on Key Largo, having the parcel identification numbers of 554720-
000000 and 554720-000100 (hereinafter "subject property") at a purchase price of $325,000.00.
Section 2. At closing, the Chairman of the Land Authority Governing Board is hereby authorized
to sign a deed conveying the subject property to the Monroe County Housing Authority. 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 residential development for occupancy
by very low, low, or moderate income persons as defined in section 420.0004, Florida Statutes,
and as further restricted by Monroe County regulations and the Monroe County Housing
Authority rental affordability policy, said policy being identified as deed restrictions in Attachment
A. Notwithstanding the 50-year affordability period in the Housing Authority affordability policy,
these deed restrictions shall not expire and may only be released by the Land Authority.
Page 1 of 2
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this day of 2001.
(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
ATTACHMENT A
DEED RESTRICTIONS
The property shall be developed with affordable housing for very low, low, or moderate income
persons as defined in section 420.0004, Florida States, consistent with the following policies of
the Monroe County Housing Authority:
1. Income targeting shall be at 80% of median adjusted for family size. Income targeting may
increase to 120% to maintain occupancy levels and financial feasibility but not to exceed
40% of project units.
2. Rental rates shall not exceed the Housing Credit (HC) program as adjusted annually for
residents at 80% of the median and State Housing Initiatives Partnership (SHIP) program
rental rates for residents at 120% of the median.
3. The compliance requirements shall be the same as the HC program as contained in the
Florida Housing Finance Corporation (FHFC) Compliance Manual and shall be the
responsibility of the developer to insure compliance annually.
4. The income targeting (rents) program requirements for the HC, MRB, SAIL, and HOME
programs when competitively obtained requiring lower rents shall take precedence.
5. The US Department of Housing and Urban Development occupancy requirements (family
composition) shall be adhered to, as they pertain to occupancy.
The above restrictions shall not expire and may only be released by the Monroe County
Comprehensive Plan Land Authority.
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