Item C31 C31
BOARD OF COUNTY COMMISSIONERS
COUNTY of MONROE Mayor Craig Cates,District 1
The Florida Keys Mayor Pro Tern Holly Merrill Raschein,District 5
Michelle Lincoln,District 2
James K.Scholl,District 3
David Rice,District 4
Board of County Commissioners Meeting
June 21, 2023
Agenda Item Number: C31
2023-1155
BULK ITEM: Yes DEPARTMENT: Social Services
TIME APPROXIMATE: STAFF CONTACT: Sheryl Graham
N/A
AGENDA ITEM WORDING: Appfaval Ratification of a Land Use Restriction Agreement (LURA),
Development Agreement, and Mortgage Subordination Agreement,upon finalizing the tefffis of the
agfeeffient by the Gattn�y Attafney's Offiee, for a forgivable loan to the Monroe County Housing
Authority from the State Housing Initiatives Partnership (SHIP)Program for the purpose of
guaranteeing a 15-year affordability period for the properties referenced herein as Big Pine Key and
Conch Key, Monroe County Housing Authority- Scattered Sites, otherwise known as Conch Key and
Howard's Haven, in an amount not to exceed Four Hundred and Forty Thousand Dollars ($440,000.00).
ITEM BACKGROUND:
ffaffi the State Hattsing initiatives Paftnefship (SHIP) Pfagfaffi is in the pfeeess of being finalized.
Monroe County receives State Housing Initiatives Partnership (SHIP) Program SHIP funds from the
State of Florida and a portion of those funds will be provided to the Monroe County Housing Authority
for this project. The Monroe County Housing Authority has also obtained other financing from the
Florida Housing Finance Corporation(FHFC) in the amount of$7,099,048.00, and Monroe County, in
the amount of$1,860,934.00 using the acquisition grant funding. The SHIP loan would be in an
amount not to exceed Four Hundred and Forty Thousand Dollars ($440,000.00).
As a condition of receipt of the SHIP award, the eligible recipient of rental rehabilitation assistance
must contractually commit to comply with the affordable housing criteria provided under ES.420.907-
420.9079 applicable to the affordable housing objectives of the award. The plan criteria adopted by the
County must prescribe the contractual obligations required to ensure compliance with award conditions.
Due to the financing involved from FHFC in the amount of$7,099,048.00, the State requires FHFC to
obtain a 1 st lien on the parcels and the subordinating party (Monroe County) to unconditionally support
the lien of its mortgage to the 1st first lien in favor of FHFC.
In order for the MCHA to retain its financing closing date, the documents need to be were executed by
the Mayor Pro Tem as soon as the terms of the contract nre were finalized by the County Attorney and
approved by Sheryl Graham, Director of Social Services. This agenda item seeks appfaval ratification
1
of the agreement documents,
PREVIOUS RELEVANT BOCC ACTION:
On July 17, 2019, the Board approved the Ground Lease between the Board and MCHA at the Howard's
Haven and Conch Key sites.
On October 16, 2019, the Board approved the First Amendment to Ground Lease.
On November 20, 2019, the Board approved the Second Amendment to Ground Lease.
On July 21, 2021, the Board approved the Third Amendment to Ground Lease.
On May 22, 2022, the Board authorized the use of the acquisition grant funds toward construction of the
project and affordable housing units.
On July 20, 2022, the State Housing Initiatives Partnership (SHIP) Program Local Housing Assistance
Plan(LHAP) was approved by the Board.
CONTRACT/AGREEMENT CHANGES:
STAFF RECOMMENDATION: Approval.
DOCUMENTATION:
FINANCIAL IMPACT:
Effective Date: Upon approval and execution by both parties.
Expiration Date: 15 years from the date the first unit is occupied.
Total Dollar Value of Contract: $440,000.00 in SHIP funds.
Total Cost to County:
Current Year Portion:
Budgeted:
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: If yes, amount:
Grant: $
County Match: $
Insurance Required: N/A
2
C31
BOARD OF COUNTY COMMISSIONERS
COUNTY of MONROE
u,.. 9 Mayor Craig Cates,District 1
The Florida Keys Mayor Pro Tern Holly Merrill Raschein,District 5
Michelle Lincoln,District 2
- James K. Scholl,District 3
' David Rice,District 4
Board of County Commissioners Meeting
June 21, 2023
Agenda Item Number: C31
2023-1155
BULK ITEM: Yes DEPARTMENT: Social Services
TIME APPROXIMATE: STAFF CONTACT: Sheryl Graham
N/A
AGENDA ITEM WORDING: Approval of a Land Use Restriction Agreement(LURA),
Development Agreement, and Mortgage Subordination Agreement, upon finalizing the terms of the
agreement by the County Attorney's Office, for a forgivable loan to the Monroe County Housing
Authority from the State Housing Initiatives Partnership (SHIP) Program for the purpose of
guaranteeing a 15-year affordability period for the properties referenced herein as Big Pine Key and
Conch Key, Monroe County Housing Authority- Scattered Sites, otherwise known as Conch Key and
Howard's Haven, in an amount not to exceed Four Hundred and Forty Thousand Dollars
($440,000.00).
ITEM BACKGROUND:
The terms of the contract with the Monroe County Housing Authority (MCHA) for a forgivable loan
from the State Housing Initiatives Partnership (SHIP) Program is in the process of being finalized.
Monroe County receives SHIP funds from the State of Florida and a portion of those funds will be
provided to the Monroe County Housing Authority for this project. The Monroe County Housing
Authority has also obtained other financing from the Florida Housing Finance Corporation (FHFC) in
the amount of$7,099,048.00, and Monroe County, in the amount of$1,860,934.00 using the acquisition
grant funding. The SHIP loan would be in an amount not to exceed Four Hundred and Forty Thousand
Dollars ($440,000.00).
As a condition of receipt of the SHIP award, the eligible recipient of rental rehabilitation assistance
must contractually commit to comply with the affordable housing criteria provided under F.S.420.907-
420.9079 applicable to the affordable housing objectives of the award. The plan criteria adopted by the
County must prescribe the contractual obligations required to ensure compliance with award conditions.
Due to the financing involved from FHFC in the amount of$7,099,048.00, the State requires FHFC to
obtain a 1 st lien on the parcels and the subordinating party (Monroe County) to unconditionally support
the lien of its mortgage to the 1 st first lien in favor of FHFC.
In order for the MCHA to retain its financing closing date, the documents need to be executed as soon
as the terms of the contract are finalized by the County Attorney. This agenda item seeks approval of
2104
the agreement documents, subject to the approval of the final form by the County Attorney.
PREVIOUS RELEVANT BOCC ACTION:
On July 17, 2019, the Board approved the Ground Lease between the Board and MCHA at the Howard's
Haven and Conch Key sites.
On October 16, 2019, the Board approved the First Amendment to Ground Lease.
On November 20, 2019, the Board approved the Second Amendment to Ground Lease.
On July 21, 2021, the Board approved the Third Amendment to Ground Lease.
On May 22, 2022, the Board authorized the use of the acquisition grant funds toward construction of the
project and affordable housing units.
On July 20, 2022, the State Housing Initiatives Partnership (SHIP) Program Local Housing Assistance
Plan(LHAP) was approved by the Board.
CONTRACT/AGREEMENT CHANGES:
STAFF RECOMMENDATION: Approval.
DOCUMENTATION:
FINANCIAL IMPACT:
Effective Date: Upon approval and execution by both parties.
Expiration Date: 15 years from the date the first unit is occupied.
Total Dollar Value of Contract: $440,000.00 in SHIP funds.
Total Cost to County:
Current Year Portion:
Budgeted:
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: If yes, amount:
Grant: $
County Match: $
Insurance Required: N/A
2105