Item J2
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: May 18, 2005
Division: Land Authority
Bulk Item: Yes No l
Staff Contact Person: Mark Rosch
Agenda Item Wording: Approval of a resolution authorizing the purchase and conveyance of Lot 29,
Ramrod Shores Third Addition on Ramrod Key in partnership with Habitat for Humanity and the Florida
Keys Community Housing and Land Trust, Inc. for affordable housing.
Item Background: The subject property consists of a 6,000 square foot lot zoned Improved
Subdivision (IS) on Brown Road, Ramrod Key. The prior owner received a ROGO allocation to build
an affordable single-family home on the lot and subsequently sold the lot to Habitat for Humanity of
Key West and the Lower Florida Keys (HFH) for $42,000. Under the proposed resolution, the Land
Authority would buy the lot from HFH at the purchase price of $42,000 and donate same to the Florida
Keys Community Housing and Land Trust, Inc. for development.
The proposed deed restriction allows for the development of either ownership or rental housing and
has been expanded to require a direct limit on the resale price, a right of first refusal in favor of the land
trust, SHIP certification procedures, a nullification provision, and a notice provision.
Advisory Committee Action: On April 27,2005 the Committee voted 4/0 to approve this resolution.
Previous Governing Board Action: On April 20, 2005 the Board approved conveying an affordable
housing site on Big Coppitt to the Florida Keys Community Housing and Land Trust subject to the
same deed restrictions.
Contract/Agreement Changes: None.
Staff Recommendation: Approval.
Total Cost: $43,385.00
Budgeted: Yes -L No _'
Cost to Land Authority: $43,385.00
Source of Funds: Land Authority
(Tourist Impact Tax and State Park Surcharge)
Approved By: Attorney -L County Land Steward _'
Executive Director Approval:
~.~~
Mark J. Rosch
Documentation: Included:..lS.-
To Follow:
Not Required:
Disposition:
Agenda Item
Property
Ramrod Shores, 3rd Addition
Lot 29
(Habitat for Humanity of Key West
and the Lower Florida Keys. Inc.)
Purchase
Price
$42,000.00
Envr. Audit, Survey.
Appraisals or
Clean-up
$500.00
05/18/05
Title
Insurance
$366.50
Attorney
Fee
$500.00
Recording
Fee
$18.50
Acquisition
Total
$43.385.00
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING
THE PURCHASE AND CONVEYANCE OF LOT 29, RAMROD
SHORES THIRD ADDITION ON RAMROD KEY IN
PARTNERSHIP WITH HABITAT FOR HUMANITY AND THE
FLORIDA KEYS COMMUNITY HOUSING AND LAND TRUST,
INC. FOR 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 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, Habitat for Humanity of Key West and Lower Florida Keys, Inc. (hereinafter "HFH")
has purchased Lot 29, Ramrod Shores Third Addition (PB 6-108) as an affordable housing site;
and
WHEREAS, certain members of HFH have formed a Florida non profit corporation known as
Florida Keys Community Housing and Land Trust, Inc. in order to have better control of
affordable housing over the long term;
WHEREAS, on April 27, 2005, HFH representatives appeared before the Land Authority
Advisory Committee and requested the Land Authority to purchase title to the subject property
from HFH and to convey same to Florida Keys Community Housing and Land Trust, Inc. for
development with affordable housing; and
WHEREAS, the Land Authority Advisory Committee considered this resolution at a meeting
held on April 27,2005 and voted 4/0 to recommend approval; NOW, THEREFORE,
BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND
AUTHORITY:
Section 1. The Governing Board approves the purchase of the subject property using the Land
Authority's standard purchase agreement at a price of $42,000 and authorizes staff to close the
transaction.
Page 1 of 2
Section 2. At closing, the Chairman of the Land Authority Governing Board is hereby
authorized to sign a deed conveying title to the subject property to Florida Keys Community
Housing and Land Trust, Inc. Said deed shall restrict future use of the property to the
requirements specified in Attachment A.
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this day of 2005.
(Seal)
ATTEST:
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
Mark J. Rosch
Executive Director
David P. Rice
Chairman
Approved for Legal Sufficiency
Larry R. Erskine
Page 2 of 2
ATTACHMENT A
AFFORDABILlTY COVENANTS
1. Affordability Period. These affordability requirements shall run with the property in favor of
the Monroe County Comprehensive Plan Land Authority (hereinafter "MCLA") and shall not
expire.
2. Income Limits, Use and Transfer Restrictions. Florida Keys Community Housing and Land
Trust, Inc. (hereinafter "FKCHL T") shall make the property available as either ownership
housing or rental housing in accordance with the conditions specified below.
2.1. Ownership Housinq. FKCHL T shall retain title to the land under ownership housing and
shall not subsequently transfer title to the land without prior written approval of MCLA.
Ownership of the improvements, together with a leasehold interest in the land, may be
conveyed by FKCHL T subject to the following conditions.
2.1.1. 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.
2.1.2. Income Qualified Buyers. Ownership shall be restricted to very low income
persons, low income persons, or moderate income persons as defined in
S420.0004, Florida Statutes (hereinafter "Income Qualified Buyer").
2.1.3. Affordability. Monthly mortgage payments shall be affordable as defined in
S420.0004, Florida Statutes.
2.1.4. Resale Limits. The leasehold estate and the improvements located thereon may
be transferred, subject to the provisions of Paragraph 2.1.2 above, provided the
transfer price does not exceed 25.5 times the monthly median household income
for a family of four residing in Monroe County, Florida at the time of the transfer.
2.1.5. Riqht of First Refusal. All deeds or instruments conveying title to the
improvements shall expressly set forth a right of first refusal in favor of FKCHL 1.
2.1.6. Special Provisions. (None)
2.2. Rental Housinq. FKCHL T shall retain title to the land and improvements and shall not
subsequently transfer title to same without the prior written approval of MCLA.
2.2.1. Use & Occupancy. The subject property shall be operated, managed and
otherwise administered as permanently affordable rental housing and such other
uses incidental to residential use as may be permitted by local zoning and land use
regulations.
2.2.2. Income Qualified Tenants. Occupancy of rental housing units shall be restricted
to very low income persons, low income persons, or moderate income persons as
defined in S420.0004 (hereinafter "Income Qualified Tenant").
2.2.3. Affordability. Monthly rents shall be affordable as defined in S420.0004, Florida
Statutes.
2.2.4. Special Provisions. (None)
3. Profit. FKCHL T is a not-for-profit corporation. FKCHL T is prohibited from earning profit on
the subject property.
4. Refinancinq Limits. FKCHL T shall be prohibited from encumbering the land for any purpose
without the prior written approval of MCLA, except for encumbrances for projects resulting
in capital improvements to the property.
5. Affordability Monitorinq. FKCHL T will be responsible for ensuring these affordability
requirements are maintained. Prior to occupying the property, all buyers and tenants must
be certified by the Monroe County Housing Authority as to compliance with Paragraphs
2.1.2, 2.1.3, 2.1.4, 2.2.2, and 2.2.3 above using the State Housing Initiatives Partnership
(SHIP) requirements of 24 Code of Federal Regulations Part 5. FKCHL T shall be
responsible for obtaining said certifications from the Monroe County Housing Authority and
shall provide a copy thereof to MCLA.
6. Nullification. Any written instrument attempting or purporting to sell, convey, grant, transfer,
exchange or assign any legal or equitable rights or interests to the property shall be
deemed null and void where such instrument is, on its face or in effect, inconsistent with or
contrary to these covenants.
7. Notice. All deeds or instruments conveying title to the property or improvements shall
expressly set forth verbatim this and the foregoing covenants or, in lieu thereof, incorporate
them by specific reference to this Warranty Deed, by Book and Page numbers where
recorded in the Public Records of Monroe County. In addition, the grantee in any such
conveyance shall execute and record with the documents of conveyance an affidavit
certifying that FKCHL T has advised grantee as to the meaning of said covenants and
certifying that grantee understands and accepts said covenants.
Covenants Acknowledged and Accepted by Florida Keys Community Housing and Land Trust,
Inc.
By:
Date:
Jerry Coleman, Director
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Mile Marker
27
Island
Ramrod Key
Property
Ramrod Shores Marina Section