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Item G3LAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date: October 17, 2007 Division: Land Authority Bulk Item: Yes No X Contact / Phone #: Mark Rosch / 295-5180 Agenda Item Wording: Approval to add Suncrest Landing Mobile Home Park on Stock Island to the Acquisition List for affordable housing in partnership with Habitat for Humanity of Key West and Lower Florida Keys. Item Background: The subject property at 5176 Suncrest Road on Stock Island is approximately two acres in size and consists of a mixture of upland and wetland zoned Mixed Use and Native Area. Approximately 0.5 acre of the site is developed with a six -unit occupied mobile home park. Habitat for Humanity proposes to redevelop the property with either rental or homeownership affordable housing. Preliminary review indicates the non -mangrove portion of the property has a development potential in the range of 14 to 18 units. The addition of property to the Acquisition List is a preliminary, non -binding step indicating the Board's desire to pursue acquisition. Further Board action is required before entering into a purchase contract. Advisory Committee Action: On September 26, 2007 the Committee voted 5/0 to approve this item. Previous Governing Board Action: None Contract/Agreement Changes: N/A Staff Recommendation: Approval Total Cost: To be determined Budgeted: Yes No Cost to Land Authority: To be determined Source of Funds: Land Authority (Tourist Impact Tax and State Park Surcharge) Approved By: Attorney X County Land Steward Documentation: Included: X To Follow: Not Required: Disposition: Agenda Item p r