HomeMy WebLinkAboutItem C19 C19
BOARD OF COUNTY COMMISSIONERS
COUNTY of MONROE Mayor James K.Scholl,District 3
The Florida Keys Mayor Pro Tern Michelle Lincoln,District 2
Craig Cates,District 1
David Rice,District 4
Holly Merrill Raschein,District 5
Board of County Commissioners Meeting
January 15, 2025
Agenda Item Number: C 19
2023-3513
BULK ITEM: Yes DEPARTMENT: Budget and Finance
TIME APPROXIMATE: STAFF CONTACT: John Quinn
N/A
AGENDA ITEM WORDING: Approval to advertise a public hearing for a budget amendment to
Fund 155, Affordable Housing Initiative.
ITEM BACKGROUND:
The purpose of the budget amendment is to bring forward accrued fund balance so that it may be made
available for use in the current fiscal year. Fund 155 receives specific fee revenue that must be
expended on affordable housing related projects. Fund 155 had an ending fund balance on 09/30/2024
of$279,374.94, including interest posted to the account of$6,982.89.
Per Sec. 139-1(e)(4)(b) of the Monroe County Land Development Code,In-lieufees. The developer of a
project subject to the requirements of this subsection (e) may contribute a fee in-lieu of the
inclusionary housing requirements for all or a percentage of the affordable housing units required by
subsection (e)(2). The developer shall pay per unit in-lieu fees, the current maximum sales price for a
one-bedroom affordable unit as established under Section 101-1. All in-lieu fees shall be deposited into
the affordable housing trust fund and spent solely for the purposes allowed for that fund. The developer,
along with any corresponding in-lieu fees, shall transfer to the county ownership the associated ROGO
allocations or ROGO-exempt development rights for any affordable unit(s)required by this section for
which the in-lieu fee option is used to construct the affordable unit(s). In order to utilize the in-
lieu fee alternate compliance option, the developer must contribute the fee with associated ROGO
allocations or exemptions. If ROGO allocations or exemptions are not available, the developer may not
utilize this option.
Attached is a report on the amount of affordable inclusionary housing funds collected under this new
program.
As of 10/21/24, $214,135.64 has been collected for FY24, $43,024.86 was collected in FY23, and
$15,231.55 was collected in FY22 for a total of$272,392.05. As funds are collected through permit
applications, they will be moved to this new Fund so the County can expend them on creating
affordable housing.
575
PREVIOUS RELEVANT BOCC ACTION:
On September 11, 2025, the Board of County Commissioners approved the FY2025 operating and
capital budget.
INSURANCE REQUIRED:
No
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
REVI SED.Inclusionary.Fees.10.21.2024.pdf
FINANCIAL IMPACT:
N/A
576
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