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Item H3LAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date:Division: April 16, 2008 Land Authority Bulk Item:Contact / Phone #: Yes No X Mark Rosch / 295-5180 __________________________________________________________________________________ Agenda Item Wording: Approval of a resolution authorizing the purchase and conveyance of 1225, 1227-A, and 1227-B Third Street in Key West to the Key West Housing Authority for affordable housing. __________________________________________________________________________________ Item Background: This item is proposed to implement Key West City Commission Resolution 07-313, which nominates the subject property. The property consists of a triplex on a 7,500 square foot lot in the “new town” area of Key West. The property is zoned Commercial General, which allows residential uses as a conditional use. Two of the units have two bedrooms and one bathroom; one unit has two bedrooms and two bathrooms. One of the units is the subject of a 25-year affordable housing deed restriction in favor of the City dated 2002. The Key West Housing Authority proposes to maintain the site as affordable rental property. __________________________________________________________________________________ Advisory Committee Action: On January 24, 2008 the Land Authority Advisory Committee voted 4/0 to approve the purchase of this property. On February 27, 2008 the Committee voted 5/0 to approve conveying the property to the Key West Housing Authority. __________________________________________________________________________________ Previous Governing Board Action: On October 17, 2007 the Board approved adding the property to the Acquisition List. __________________________________________________________________________________ Contract/Agreement Changes: None. __________________________________________________________________________________ Staff Recommendation: Approval. __________________________________________________________________________________ Total Cost:Budgeted: $896,800.00 Yes X No. Cost to Land Authority:Source of Funds: $896,800.00Land Authority (Tourist Impact Tax collected within Key West) Approved By: Attorney X County Land Steward . Documentation: Included: X To Follow: Not Required: . Disposition: Agenda Item ____ PURCHASE BY THE LAND AUTHORITY 04/16/08 PurchaseEnvr. Audit, SurveyTitleAttorneyRecordingTotal PropertyPriceor Clean-upInsuranceFeeFeeCosts 1225, 1227- A and $890,000.00$1,087.50$4,650.00$500.00$18.50$896,256.00 1227- B Third Street Key Wes t RE# 00051610 (Heck) CONVEYANCE TO KEY WEST HOUSING AUTHORITY 04/16/08 SalesEnvr. Audit, SurveyTitleAttorneyRecordingTotal PropertyPriceor Clean-upInsuranceFeeFeeCosts 1225, 1227- A and $0.00$0.00$0.00$500.00$44.00$544.00 1227- B Third Street Key Wes t RE# 00051610 (Heck) Combined Total$896,800.00 RESOLUTION NO. ________ A RESOLUTION OF THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING THE PURCHASE AND CONVEYANCE OF REAL PROPERTY LOCATED AT 1225, 1227-A, AND 1227-B THIRD STREET IN KEY WEST TO THE HOUSING AUTHORITY OF THE CITY OF KEY WEST 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; and WHEREAS, Key West City Commission Resolution 07-313 nominates 1225, 1227-A, and 1227- B Third Street in Key West (hereinafter “subject properties”) for purchase by the Land Authority as affordable housing sites in partnership with the Housing Authority of the City of Key West; and WHEREAS, at a meeting held on January 24, 2008 the Land Authority Advisory Committee voted 4/0 to approve the purchase of the Third Street properties at a purchase price of $890,000; and WHEREAS, the Land Authority’s Executive Director has executed a contract in this amount to purchase the subject properties; and WHEREAS, at a meeting held on February 27, 2008 the Land Authority Advisory Committee voted 5/0 to approve conveying the subject properties to the Housing Authority of the City of Key West subject to the deed restrictions attached to this resolution; NOW, THEREFORE, BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY: Section 1. The Governing Board approves the purchase of 1225, 1227-A, and 1227-B Third Street in Key West, more particularly described as Lot 1, Block 3, Sunshine Subdivision Plat #3, at the purchase price of $890,000 and authorizes staff to close the transaction. Page 1of 2 Section 2. The Chairman of the Land Authority Governing Board is hereby authorized to sign a deed conveying title to 1225, 1227-A, and 1227-B Third Street in Key West to the Housing Authority of the City of Key West. Said deed shall restrict future use of the properties as specified in Exhibit A. PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a regular meeting on this ______ day of _______________________ 2008. (Seal) ATTEST: MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY ________________________ ________________________ Mark J. Rosch Charles “Sonny” McCoy Executive Director Chairman Approved for Legal Sufficiency ________________________ Larry R. Erskine Page 2of 2 EXHIBIT A AFFORDABILITY COVENANTS 1. Term. These affordability covenants are perpetual, run with the land, and are binding on all present and subsequent owners and mortgagees. 2. Property Use. Use of the property shall be restricted to the provision of affordable housing as defined in section 380.0666(3), Florida Statutes, as said statute may be amended from time to time. 3. Monitoring. Grantee is responsible for ensuring compliance with the affordability covenants contained herein and expressly agrees to furnish, upon Grantor’s request, written certification thereof. AGREEMENT FOR THE PURCHASE OF LANDS THIS AGREEMENT is made and entered into this ______ day of __________________, 2008, is by and between Ronald K. Heck hereinafter style the Seller(s), for themselves, their heirs, executors, administrators, successors and assigns, and the MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY (hereinafter, "Land Authority") acting by and through the Executive Director of the LAND AUTHORITY. WITNESSETH: 1. In consideration of Ten Dollars ($10.00) in hand, paid by the LAND AUTHORITY, the receipt of which is hereby acknowledged, the Seller(s) agree to sell to the LAND AUTHORITY certain lands $890,000.00 upon the terms and conditions hereinafter set forth, and for the price of for all of the lands and other interests, which lands shall include all tenements, hereditaments, together with all water and other rights, easements, appurtenances, and any and all of the Seller’s rights in or arising by reason of ownership thereunto belonging, owned by them, situate and lying in the County of Monroe, State of Florida, more particularly described as follows; to-wit: Block 3, Lot 1, Sunshine Subdivision Plat No. 3 (PB 2-169) rd 1225, 1227-A, and 1227-B 3 Street in Key West RE# 00051610-000000 2. The Seller(s) agree that they have full right, power and authority to convey, and that they will convey to the LAND AUTHORITY the fee simple title together with legal and practical access thereto clear, free and unencumbered, except subject to the following easements or reservations: Existing easements for canals, ditches, flumes, pipelines, railroads, public highways and roads, telephone, telegraph, power transmission lines and public utilities. The LAND AUTHORITY, at the LAND AUTHORITY’S expense, within the time allowed to deliver evidence of title and to examine same, may have the real property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the real property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, contract covenants, or applicable governmental regulations, the same shall constitute a title defect. Seller(s) shall convey a marketable title subject only to the aforementioned liens, encumbrances, exceptions or qualification set forth herein. Marketable title shall be determined according to applicable title standards adopted by authority of the Florida Bar and in accordance with law. The LAND AUTHORITY shall have sixty (60) days from the effective date of this Agreement in which to examine title. If title is found defective, the LAND AUTHORITY shall, within this specified time period, notify Seller(s) in writing specifying defect(s). If the defect(s) render title unmarketable the Seller(s) will have one hundred twenty (120) days from receipt of notice within which to remove the defect(s), failing which the LAND AUTHORITY shall have the option of either accepting the title as it then is or rescinding the contract herein; thereupon the LAND AUTHORITY and the Seller(s) shall release one another of all further obligations under this Agreement. The Seller(s) will, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefore, including the bringing of necessary suits. 1 3. The Seller(s) further agree not to do, or suffer others to do, any act by which the value or title to said lands may be diminished or encumbered. It is further agreed that any loss or damage occurring prior to the vesting of satisfactory title in the LAND AUTHORITY by reasons of the unauthorized cutting or removal of products therefrom, or because of fire, shall be borne by the Seller(s); and that, in the event any such loss or damage occurs, the LAND AUTHORITY may refuse, without liability, to accept conveyance of said lands, or it may elect to accept conveyance upon an equitable adjustment of the purchase price. 4. The Seller(s) further agree that during the period covered by this instrument officers and accredited agents of the LAND AUTHORITY shall have at all proper times the unrestricted right and privilege to enter upon said lands for all proper and lawful purposes, including examination of said lands and the resources upon them. The Seller(s) hereby waive their rights to any and all claims against the LAND AUTHORITY or Monroe County associated with, or arising from ownership of, said lands and this waiver shall survive closing. 5. The Seller(s) will execute and deliver upon demand of the proper officials and agents of the LAND AUTHORITY a good and sufficient deed of warranty conveying to the LAND AUTHORITY a safe title to the said lands of such character as to be satisfactory to the legal counsel of the LAND AUTHORITY and said deed shall provide that the use, occupation and operation of the rights-of- way, easements and reservations retained therein, shall be subordinate to and subject to such rules and regulations as may be prescribed by the LAND AUTHORITY governing the use, occupation, protection and administration of lands. 6. In consideration whereof the LAND AUTHORITY agrees that it will purchase all of said lands and $890,000.00 other interests at the price of . The LAND AUTHORITY further agrees that, after the preparation, execution, delivery and recordation of the deed, and after the legal counsel of the LAND AUTHORITY shall have approved the title thus vested in the LAND AUTHORITY, it will cause to be paid to the Seller(s) the purchase price by a check drawn on the account of the LAND AUTHORITY. The LAND AUTHORITY shall pay the following expenses associated with the conveyance of the property: deed recording fees, settlement fees, abstract fees, title examination fees, the Buyer's attorney's fees, and title insurance, as well as the prorata share of prepaid real property taxes allocable to the period subsequent to the vesting of title in the LAND AUTHORITY, or the effective date of possession of such real property by the same, whichever is earlier. The Seller(s) shall pay the expenses of documentary stamps to be affixed to the deed. Full possession of the premises shall pass to the LAND AUTHORITY as of the date payment is made to the Seller(s) subject only to the reservations stated in Section 2 above. 7. It is mutually agreed that an abstract, title insurance policy or other evidence of title to the property herein contracted to be sold, satisfactory to the legal counsel of the LAND AUTHORITY will be obtained by the LAND AUTHORITY at its expense. The Seller(s) expressly agree herein to furnish to the LAND AUTHORITY any documents in Seller(s)'s possession establishing evidence of title including, but not limited to, abstracts, title commitments, title policies and opinions of title. 8. It is mutually understood and agreed that the LAND AUTHORITY may assign this contract. 9. It shall be the obligation of the Seller(s) to pay all taxes and assessments outstanding as liens at the date title vests of record in the LAND AUTHORITY, whether or not such taxes and assessments are then due and payable. 2 10. It is mutually understood and agreed that notice of acceptance of this agreement shall be given to the Seller(s) by mail addressed to the Seller(s) at the following address: 810 Terry Lane Key West, FL 33040 and shall be effective upon date of mailing and shall be binding upon all of the Seller(s) without sending a separate notice to each, except as such obligation may be affected by the provisions of paragraph 6 hereof. 11.The property shall be delivered at closing free of any tenant or occupancy whatsoever, unless the tenant is income qualified for affordable housing and otherwise approved by the Key West Housing Authority. 12.The effective date of this agreement shall be that date when the last one of the Seller(s) and the LAND AUTHORITY has signed this agreement. January 28, 2008 13. If the Seller(s) wish to proceed with this transaction, the Seller(s) have until to sign and return this contract to the LAND AUTHORITY. 14. The LAND AUTHORITY intends to purchase the subject property as an affordable housing site in partnership with the Key West Housing Authority. Notwithstanding any provision of this Agreement to the contrary, the closing of this transaction is contingent upon: a) funding availability; and b) approval by the Land Authority Advisory Committee and Governing Board; and c) the Key West Housing Authority agreeing to accept title to the property from the LAND AUTHORITY with said title encumbered with affordable housing deed restrictions. [The remainder of this page is blank.] 3 In the event these contingencies are not satisfied and the transaction is not closed on or before April 30, 2008, both the LAND AUTHORITY and the Seller shall have the right to terminate this Agreement by providing written notice, at which point both parties shall be released of all further obligations under this Agreement. IN WITNESS WHEREOF, the Seller(s) have hereunto signed their names and affixed their respective seals on the day first above written and therefore the Seller(s) for and in consideration of the Ten Dollars ($10.00) hereinabove acknowledge as received, have and do hereby grant unto the LAND AUTHORITY or its authorized representative, or any other office or agent of the LAND AUTHORITY authorized to purchase said lands, the option and right to enter into this Agreement for Purchase within sixty (60) days from the execution thereof by the Seller(s), and to purchase said lands as herein provided. Ronald K. Heck Seller/ ________________________ ___________ __________________ ________________ Signature Date Social Security Number Phone Number The MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY, acting by and through its EXECUTIVE DIRECTOR in accordance with Resolution 09-2004, has executed this agreement on behalf of the MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY this ______ day of ______________________, 2008. MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY (Seal) ________________________________ Mark J. Rosch, Executive Director 4 ÛÛÎØ ÚèÔÓÊØéÈÊ××È ìÊÍÌ×ÊÈÃóÎÖÍÊÏÛÈÓÍÎÖÍÊ HomeDepartmentsExemptionsOnline Data CenterForms ùÍÎÈÛÙÈÈÔ×ïùìûÍÖÖÓÙ× Apr 1, 2008 9:24PM çÎØ×ÊöÐÍÊÓØÛÐÛÅ×ÏÛÓÐÛØØÊ×ÉÉ×ÉÛÊ×ÌÇÚÐÓÙÊ×ÙÍÊØÉóÖÃÍÇØÍÎÍÈÅÛÎÈÃÍÇÊ×ÏÛÓÐÛØØÊ×ÉÉÊ×Ð×ÛÉ×ØÓÎÊ×ÉÌÍÎÉ×ÈÍÛÌÇÚÐÓÙÊ×ÙÍÊØÉÊ×ËÇ×ÉÈØÍÎÍÈÉ×ÎØ×Ð×ÙÈÊÍÎÓÙÏÛÓÐÈÍÈÔÓÉ×ÎÈÓÈÃóÎÉÈ×ÛØ ÙÍÎÈÛÙÈÈÔÓÉÍÖÖÓÙ×ÚÃÌÔÍÎ×ÍÊÓÎÅÊÓÈÓÎÕöé Online Data Center Records Search Property Information for: ûÐÈ×ÊÎÛÈ×ñ×Ã ê÷îÇÏÚ×Ê ìÊÓÎÈé×ÛÊÙÔûÕÛÓÎ ûÉÑëÇ×ÉÈÓÍÎÛÚÍÇÈÈÔÓÉìÛÊÙ×Ð Property Details Owner of RecordProperty Map ô÷ùñêíîûðøñ è÷êêãðî ñ÷ãå÷éèöð Physical Location êøéèñ÷ãå÷éè Legal Description éçîéôóî÷éçúìðûèîí ìú ðíèúðñ íê íê íê íê ê é íê ê éíê íê íê Subdivision: éÇÎÉÔÓÎ×éÇÚØÓÆÓÉÓÍÎìÐÛÈîÍ Section, Township, Range Affordable ã×É Housing Millage Group ñå ÷ÉÈÓÏÛÈ×èÛÄ×É ïÛÌéÓÂ× îÍÎ×éÏÛÐÐï×ØÓÇÏðÛÊÕ× PC Code û×ÊÓÛÐæÓ×ÅíÖÖíÎ ïçðèóöûïóðãð÷ééèôûî çîóèé Land Details Land Use CodeFrontageDepthLand Area ê÷éóø÷îèóûðøêã éö Summary of Buildings Number of BuildingsTotal Living Area ÔÈÈÌ ÅÅÅÏÙÌÛÖÐÍÊÕ ØÛÈÛÙ×ÎÈ×Ê É×ÛÊÙÔ Ê×ÙÍÊØÛÉÌÍÖ ìï ìÊÍÌ×ÊÈÃóÎÖÍÊÏÛÈÓÍÎÖÍÊ Number of Commercial BuildingsYear Built Building Characteristics Building No 1 ê õ Building TypeConditionQuality GradeEffective Age PerimeterDepreciation %Year BuiltSpecial Arch Grnd Floor AreaFunctional ObsEconomic Obs Inclusions: ê ÓÎÙÐÇØ×É ÖÓÄÈÇÊ×ÚÛÈÔÉÛÎØ ÑÓÈÙÔ×ÎÉ Roof TypeRoof CoverHeat 1Heat 2 óêê ùçéèíïûéìôûðèéôóîõðöùø ûóêøçùè÷øîíî÷ FoundationBedroomsHeat Src 1Heat Src 2 ùíîùêöèê÷ð÷ùèêóùîíî÷ Extra Features: 2 Fix Bath4 Fix Bath6 Fix BathExtra FixVacuumSecurityGarbage Disposal 3 Fix Bath5 Fix Bath7 Fix BathDishwasherIntercomFireplacesCompactor Sections TypeNbrExterior Wall Type# StoriesYear BuiltAtticA/CBasement %Finished Basement %Area öðû ùúé îã öðû ùúé îã íìä íìä éúö åøöêûï÷ îî ìèí éúö åøöêûï÷ îî ìèí öðû îã íçç Miscellaneous Improvements NbrImpr Type# UnitsTypeLengthWidthYear BuiltRoll YearGradeLife çú ðùçèóðúðøõ éö ìè ìûèóí éö ùð ùôðóîñö÷îù÷ éö öî ö÷îù÷é éö öî ö÷îù÷é éö Parcel Value History MiscellaneousExemptions (not Including Tax Roll YearBuildingLandJustTaxable ImprovementsSeniors) 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 ÔÈÈÌ ÅÅÅÏÙÌÛÖÐÍÊÕ ØÛÈÛÙ×ÎÈ×Ê É×ÛÊÙÔ Ê×ÙÍÊØÛÉÌ ÍÖ ìï ìÊÍÌ×ÊÈÃóÎÖÍÊÏÛÈÓÍÎÖÍÊ 1989 1988 1987 1986 1985 1984 1983 1982 Parcel Sales History Note - Our records are typically two to three months behind from the date of sale. If a recent sale does not show up please give our office time to process it. Sale DateOfficial Records Book/PagePriceInstrument åø åø åø èÔÓÉÌÛÕ×ÔÛÉÚ××ÎÆÓÉÓÈ×Ø ÈÓÏ×É ÔÈÈÌ ÅÅÅÏÙÌÛÖÐÍÊÕ ØÛÈÛÙ×ÎÈ×Ê É×ÛÊÙÔ Ê×ÙÍÊØÛÉÌ ÍÖ ìï