Item H2
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: September 15, 2004
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of a resolution authorizing the release of affordable housing deed
restrictions on property in Reimann's subdivision in Marathon at the request of the Middle Keys
Community Land Trust, Inc.
Item Background: In 2003 the Land Authority purchased Lots 12-15 of Reimann's subdivision on 74th
Street Ocean in Marathon. The Land Authority imposed affordable housing deed restrictions and,
consistent with the nominating resolution from the City of Marathon, conveyed the subject properties to
the Middle Keys Community Land Trust (MKCL T). MKCL T built single-family houses on each of the
four lots and sold the houses, subject to a 99-year ground lease. The Land Authority's deed restriction
restricts the sale of the houses to buyers with incomes below 120% of the county median income
adjusted for household size. MKCL T's sale of Lot 15 violated this restriction, in that the buyer's annual
income of $60,866 exceeded the limit of $54,960 by $5,906. To remedy this situation, MKCL T
proposes to refund the Land Authority's costs for Lot 15 ($25,795.25) as consideration for the Land
Authority releasing Lot 15 from the deed restrictions.
MKCL T is still researching whether the sale of a second lot, Lot 13, also constituted a violation of the
Land Authority's deed restrictions.
Advisory Committee Action: On August 26, 2004 the Committee voted 5/0 to approve the proposed
resolution.
Previous Governing Board Action: None.
Contract/Agreement Changes: N/A
Staff Recommendation: Approval.
Total Cost: N/A
Budgeted: Yes
No
Cost to Land Authority: N/A
Source of Funds:
Approved By: Attorney ~
County Land Steward
Executive Director Approval:
#1" ~~Ch
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #2
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING
THE RELEASE OF AFFORDABLE HOUSING DEED
RESTRICTIONS ON PROPERTY IN REIMANN'S SUBDIVISION
IN MARATHON AT THE REQUEST OF THE MIDDLE KEYS
COMMUNITY LAND TRUST, 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 and dispose of interests 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, the Middle Keys Community Land Trust, Inc. (hereinafter MKCL T) is a not-for-profit
Florida corporation organized for charitable purposes that include providing for the development
and preservation of decent, permanently affordable housing for low and moderate income
people in the Middle Keys area; and
WHEREAS, Marathon City Commission Resolution #02-07-93 nominated Lots 12-15 of
Reimann's subdivision on 73rd Street Ocean in Marathon (hereinafter "subject property") for
purchase by the Land Authority as an affordable housing site in partnership with MKCL T; and
WHEREAS, the Land Authority acquired the subject property, imposed affordable housing deed
restrictions in accordance with the Land Authority's enabling legislation, and conveyed the
subject property to MKCL T for development with affordable housing; and
WHEREAS, MKCL T sold Lot 15 of said site to a Buyer in violation of the Land Authority's deed
restriction and MKCL 1's ground lease, in that the Buyer's income exceeds 120% of the county
median income adjusted for household size; and
WHEREAS, MKCL T proposes to remedy said violation by refunding the Land Authority's
acquisition costs for Lot 15 as consideration for the Land Authority releasing its deed
restrictions; and
WHEREAS, at a meeting held on August 26, 2004, the Land Authority Advisory Committee
voted 5/0 to recommend approval of said request, subject to the conditions contained in this
Resolution; and
WHEREAS, the Governing Board wishes to approve the Advisory Committee's
recommendations; NOW, THEREFORE,
BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY:
Upon the Middle Keys Community Land Trust, Inc. 's repayment of the Land Authority's
acquisition costs in the amount of $25,795.25, the Chairman of the Land Authority Governing
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Board is hereby authorized to execute a release of the Land Authority's affordable housing deed
restrictions for Lot 15, Reimann's subdivision (PB 2-145).
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this _ day of , 2004.
Commissioner McCoy
Mayor Nelson
Commissioner Neugent
Commissioner Spehar
Chairman Rice
(Seal)
ATTEST:
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
Mark J. Rosch
Executive Director
David P. Rice
Chairman
Approved for Legal Sufficiency
A~
Larry R. Erskine
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