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Item O04 BOARD OF COUNTY COMl\flSSIONERS AGENDA ITEM SUMMARY Meeting Date: December 21, 2005 Division: Commissioner Dixie M. Spehar Bulk Item: Yes No X Department: BOCCI Staff Contact Person: Jana Johnson-Willi AGENDA ITEM WORDING: Discussion of a request from Bounty Fisheries, Inc. to enter into a development agreement with Monroe County and the Florida Department of Community Affairs under Chapters 163 and 380, Florida Statutes, and, if appropriate, to provide direction to staff. ITEM BACKGROUND: The BOCC recently approved the rezoning of the Bounty Fisheries, Inc's property (known as the Overseas Trailer Park) from URM-L (residential mobile home limited) to UR (urban residential) that will allow the redevelopment of the mobile home park to attached and detached homes. Bounty Fisheries has the right to develop the site into at least 49 market rate units. However, the applicant is interested in redeveloping the site entirely with deed restricted (99-year) affordable housing units in return for an unspecified number of market rate RaGa allocations that can be used off-site. However, major issues would need to be addressed in any such agreement to protect the public interest, such as: long-term management of the affordable housing development; the household income eligibility limits of the proposed tenants; whether the units will be for rent or sale; what limitations may need to be placed on the conversion of affordable to market rate allocations; what guarantees will be placed on the affordable housing project to ensure units are kept safe and continue to meet safe housing standards over the long term, etc. At this time, I am asking for the Board to consider whether it wants the staff to work with Bounty Fisheries, Inc. in drafting such a development agreement. The development agreement will have to go through public hearings at both the Planning Commission and County Commission, before final action by the County Commission. PREVIOUS RELEVANT BOCC ACTION: CONTRACT/AGREEMENT CHANGES: STAFF RECOMl\fENDATIONS: TOTAL COST: BUDGETED: Yes No COST TO COUNTY: SOURCE OF FUNDS: REVENUE PRODUCING: Yes No AMOUNT PER MONTH_ Year APPROVED BY: County Atty _ OMBlPurchasing _ Risk Management_ DIVISION DIRECTOR APPROVAL: DOCUMENTATION: Included rJ)i;eie JJl. SaeJwl! Dixie M. Spehar, Commissioner Not Required_ DISPOSITION: AGENDA ITEM # Revised 2/05 ~ I I BOARD OF COUNTY COMMISSIONERS AGENDAITEMSU~Y Meeting Date: December 21.2005 Division: Commissioner Dixie M. Spehar Bulk Item: Yes No -1L Department: BOCCI Staff Contact Person: J ana J ohnSon- Willi AGENDA ITEM WORDING: Discussion of a request from Bounty Fisheries, Inc. to enter into a development agreement with Monroe County and the Florida Department of Community Affairs under Chapters 163 and 380, Florida Statutes, and, if appropriate, to provide direction to staff. ITEM BACKGROUND: The BOCC recently approved the rezoning of the Bounty Fisheries, Inc's property (known as the Overseas Trailer Park) from URM-L (residential mobile home limited) to UR (urban residential) that will allow the redevelopment of the mobile home park to attached and detached homes. Bounty Fisheries has the right to develop the site into at least 49 market rate units. However, the applicant is interested in redeveloping the site entirely with deed restricted (99-year) affordable housing units in return for an unspecified number of market rate ROGO allocations that can be used off-site. However, major issues would need to be addressed in any such agreement to protect the public interest, such as: long-term management of the affordable housing development; the household income eligibility limits of the proposed tenants; whether the units will be for rent or sale; what limitations may need to be placed on the conversion of affordable to market rate allocations; what guarantees will be placed on the affordable housing project to ensure units are kept safe and continue to meet safe housing standards over the long term, etc. At this time, I am asking for the Board to consider whether it wants the staff to work with Bounty Fisheries, Inc. in drafting such a development agreement. The development agreement will have to go through public hearings at both the Planning Commission and County Commission, before fmal action by the County Commission. PREVIOUS RELEVANT BOCC ACTION: CONTRACT/AGREEMENT CHANGES: STAFF RECOMMENDATIONS: TOTAL COST: BUDGETED: Yes No COST TO COUNTY: SOURCE OF FUNDS: REVENUE PRODUCING: Yes No AMOUNTPERMONT~ Year APPROVED BY: County Atty _ OMBlPurchasing _ Risk Management_ DIVISION DIRECTOR APPROVAL: DOCUMENTATION: Included rz>;;de JIL &uJLaJC Dixie M. Spehar, Commissioner Not Required_ AGENDA ITEM It 0, + DISPOSITION: Revised 2/05