Item J2
lAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: August 21,2002
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of a resolution authorizing the purchase and conveyance of property
in Riviera Village and Largo Gardens subdivisions in partnership with Habitat for Humanity of the Upper
Keys, Inc. for the purpose of providing affordable housing.
Item Background: Habitat for Humanity of the Upper Keys, Inc. (HFH) has received tax credit
revenue from the State of Florida toward the construction of single-family homes and is in need of
suitable building sites. The proposed resolution authorizes the purchase of two lots selected by HFH
for this purpose. Each lot is zoned Improved Subdivision (IS), is buildable, and is not located in an
environmentally sensitive area. Following the Land Authority's purchase of the lots, the proposed
resolution authorizes conveyance of the lots to HFH subject to a 50-year deed restriction addressing
occupancy and limitations on resale.
Advisory Committee Action: On July 25, 2002 the Advisory Committee voted 3/0 to approve the
purchase of the subject lots, contingent upon the lots being buildable.
Previous Governing Board Action: On August 16, 2001 the Governing Board approved the
conveyance of four lots in Winston Park subdivision on Key Largo to HFH.
Contract/Agreement Changes: None.
Recommendation: Approval
Total Cost: $ 31,912.00
Budgeted: Yes X
No
Cost to land Authority: $ 31,912.00
Approved By: Attorney ~
OMBIPurchasing
Risk Management
Executive Director Approval:
~ ~ 0---
ark J. Rosch
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #2
PURCHASE CONTRACTS
08/21/02
Purchase Envr. Audit, Survey Title Attorney Recording Acquisition
Property Price or Clean-up Insurance Fee Fee Total
Revised Amended Plat of
Riviera Village (PB 2-80)
Block 3, Lot 58 $13,000.00 $500.00 $200.00 $250.00 $6.00 $13,956.00
(Kreng)
Largo Gardens (PB 4-38)
Block 8, Lot 12 $17,000.00 $500.00 $200.00 $250.00 $6.00 $17,956.00
(Schwartz)
Totals
$30,000.00
$1,000.00
$400.00
$500.00
$12.00
$31,912.00
1 of 1
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING
THE PURCHASE AND CONVEYANCE OF PROPERTY IN
RIVIERA VILLAGE AND LARGO GARDENS SUBDIVISIONS IN
PARTNERSHIP WITH HABITAT FOR HUMANITY OF THE
UPPER KEYS, INC. FOR THE PURPOSE OF PROVIDING
AFFORDABLE HOUSING.
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 the Upper 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 Upper Keys area; and
WHEREAS, HFH requests that the Land Authority purchase certain lots in Riviera Village and
Largo Gardens subdivisions and convey the subject properties to HFH and allow HFH to
develop the property with affordable housing; and
WHEREAS, at a meeting held on July 25, 2002 the Land Authority Advisory Committee voted
3/0 to recommend approval of purchasing the subject lots; and
WHEREAS, the Governing Board wishes to approve the Advisory Committee's
recommendation; 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
contracts for the purchase of property as follows:
Property
Block 3, Lot 58, Revised Amended Plat of
Riviera Village subdivision (PB 2-80)
Block 8, Lot 12, Largo Gardens subdivision (PB 4-38)
Purchase Price
$13,000.00
$17,000.00
Section 2. At closing, the Chairman of the Land Authority Governing Board is hereby authorized
to sign a deed conveying the subject property to Habitat for Humanity of the Upper Keys, Inc.
Said deed shall restrict future use of the property to 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 affordability
regulations and Attachment A.
Page 1 of 2
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this day of 2002.
(Seal)
ATTEST:
Mark J. Rosch
Executive Director
Approved for Legal Sufficiency
Larry R. Erskine
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
Murray Nelson
Vice Chairman
Page 2 of 2
ATTACHMENT A
AFFORDABILlTY COVENANTS
1. Affordability Period. These affordability requirements shall run with the property for a period
of fifty (50) years.
2. Income Limits, Use and Transfer Restrictions. Habitat for Humanity of the Upper Keys, Inc.
(hereinafter HFH) shall develop the subject property and make same available as ownership
housing in accordance with the conditions specified below.
3. Use and Occupancy. The subject property shall be owner occupied and used as the
homeowner's primary residence and such other uses incidental to residential use as may be
permitted by local zoning and land use regulations.
4. Income Qualified Buyers. Ownership shall be restricted to households earning less than or
equal to 100% of the Monroe County median income adjusted for household size at the time
of conveyance.
5. Affordability. Monthly housing costs, defined as principal, interest, taxes, insurance (PITI),
and homeowner association fees [if any] shall not exceed the annual adjusted gross
household income multiplied by 0.30 and divided by 12, all in accordance with S420.0004,
Florida Statutes.
6. Resale Limits. The property and the improvements located thereon may be transferred,
subject to the provisions of Paragraphs 4 and 5 above, provided the transfer price does not
exceed the sum of the price the current owner paid plus 25% of the amount by which the
unrestricted market value of the property may have appreciated during the current owner's
period of ownership. All transfers are contingent upon HFH maintaining the right of first
refusal to either purchase the property or provide the Seller a qualified Buyer.
7. Refinancing Limits. The property may not be encumbered for any purpose without the prior
approval of the Monroe County Comprehensive Plan Land Authority (hereinafter MCLA),
except for encumbrances for projects resulting in capital improvements to the property and
encumbrances imposing additional affordability covenants.
8. Affordability Monitoring. HFH will be responsible for ensuring these affordability requirements
are maintained. Whenever the property is transferred HFH shall provide certification to the
MCLA documenting these affordability requirements have been met.
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