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HomeMy WebLinkAboutResolution 050-2025 F \i ��h hk Am RESOLUTION NO. 050 -2025 A RESOLUTION OF THE MONROE COUNTY BOARD OF COUNTY COMMISSIONERS APPROVING $10,000,000.00 FOR CONSTRUCTION FUNDING FROM THE MONROE COUNTY AFFORDABLE TOURISM HOUSING PROGRAM UPON KEY WEST HOUSING AUTHORITY RECEIVING A LOAN COMMITMENT FOR FUNDING FOR THE ENTIRE PROJECT AND UPON RECEIPT OF BUILDING PERMITS FROM THE CITY OF KEY WEST FOR 20 UNITS WHICH WILL BE DESIGNATED FOR EMPLOYEES OF PRIVATE SECTOR TOURISM-RELATED BUSINESSES IN ACCORDANCE WITH MONROE COUNTY RESOLUTION 544-2024 ON PROPERTY LEGALLY DESCRIBED AS A TRACT OF LAND LYING ON THE ISLAND OF KEY WEST, MONROE COUNTY, FLORIDA AND BEING KNOWN AS A PORTION OF LOT 5, LOTS 6 THROUGH 12, BLOCK 17,AND LOTS 1 THROUGH 8,A PORTION OF LOTS 9 THROUGH 12,BLOCK 18 AND LAND LYING NORTH OF SAID BLOCKS AND BEING MORE PARTICULARLY DESCRIBED AS SHOWN IN EXHIBIT A WITH PARCEL ID# 00054250-000000 SUBJECT TO A LAND USE RESTRICTION AGREEMENT (LURA);AND AUTHORIZING THE MAYOR TO EXECUTE DOCUMENTS IN SUPPORT OF THE PROJECT. WHEREAS, Ch. 24-219, Laws of Fla., (SB 1456) became effective on July 1, 2024; and WHEREAS, Ch. 24-219, § 4, Laws of Fla., provides that counties, which are designated as an Area of Critical State Concern (ACSC), and which levy both a tourist development tax pursuant to F.S. 125.0104, and a tourist impact tax pursuant to F.S. 125.0108, may use any accumulated surplus from such taxes collected through September 30, 2024, not to exceed $35 million, whether held by the county directly, or by a land authority in the county created pursuant to F.S. 380.0663, for purposes of providing housing which is available to employees of private sector tourism-related businesses in the county; and WHEREAS, Ch. 24-219, § 4, Laws of Fla., further provides that any housing financed with funds from the surplus may be used only for purposes of providing "affordable" housing, as defined in F.S. 420.0004, for a period of no less than 99 years for employees of private sector tourism-related businesses as defined in Monroe County Resolution 544-2024; and WHEREAS, pursuant to F.S. 420.0004, for one or more natural persons or a family, the total annual adjusted gross household income must be less than 120 percent of the median annual adjusted gross income for households within the state; and Page 1 of 3 WHEREAS,Ch. 24-219, §4,Laws of Fla.,further provides that expenditure of such funds is subject to approval by a majority vote of the BOCC; and WHEREAS,in anticipation of Ch. 24-219,Laws of Fla., becoming law, on May 15, 2024, the Board of County Commissioners (BOCC)passed Monroe County Ordinance 018-2024, which authorized the "accumulated surplus" funds to be transferred to an account to be held directly by the County or Land Authority and authorized for use in accordance with state law; and WHEREAS,within said Ordinance,the BOCC stated that"[t]he BOCC will adopt a policy or resolution setting forth the process for distribution and expenditure of accumulated funds for affordable housing in accordance with the conditions as set forth in SB 1456"; and WHEREAS, the BOCC adopted Resolution 544-2024 establishing the Monroe County Affordable Tourism Housing Program (hereinafter "the Program") setting forth the program parameters, restrictions, and conditions for evaluation of potential affordable housing projects which qualify for this funding and the subsequent distribution and expenditure of the accumulated funds for selected affordable housing projects in accordance with the requirements as set forth in Ch. 24-219, § 4, Laws of Fla.; and WHEREAS, the Housing Authority of the City of Key West (hereinafter KWHA) is proposing to develop 54 new affordable housing units, known as the Poinciana Housing Project, on land described in Exhibit A, in Key West at Poinciana Plaza (subject property); and WHEREAS, the KWHA has plans to develop 54 affordable new housing units for income eligible households whose income does not exceed 160 percent of the Area Median Income in accordance with section 380.0666(3)(a), Florida Statues; and WHEREAS, the KWHA desires to limit 20 of the 54 affordable new housing units to be solely occupied by heads of households employed by a private sector tourism-related business whose income does not exceed 120 percent of the median annual adjusted gross income for households within the state; and WHEREAS, the KWHA has applied to the Program for $10 million in construction funding to facilitate the development; and WHEREAS, KWHA has requested $10,000,000 be disbursed upon issuance of building permits for the 20 units; and WHEREAS, Section 380.0666(3)(a), Florida Statues, empowers County to utilize tourist impact tax revenue in the KW fund toward the construction of affordable housing in Key West; and WHEREAS, the Board of County Commissioners considered this resolution at a meeting held on January 15, 2025; NOW, THEREFORE, BE IT RESOLVED BY THE MONROE COUNTY BOARD OF COUNTY COMMISSIONERS: Section 1. The above recitals are true and correct and incorporated herein. Page 2 of 3 Section 2: Monroe County hereby commits:$:10,000,000.00.in FY25 for.construction funding for : : .. the:Subject Property to KWHA:• Section:3. The.County will:disburse.$10,000;000 upon.receipt from KWHA:and:approval by the • County's Planning and Environmental Services Director,.or her designee,the following : 1• a written loan commitment`from a lender for the entire:proj ect cost; I 2•: a proforma showing. the entire project cost, certified by a licensed design:engineer or : : :architect,:an 3. written confirmation from the:City of Key West indicating permits are:ready for issuance for the 20.new units• 4. : Proof of recorded LURA pursuant to section 4 below. Section 4. Prior to disbursement of:any:portion of the:$10,000,000, the KWHA shall sign and record a Land Use:Restriction.Agreement (LURA), to be drafted and provided by the Monroe :County Attorney's Office restricting use of the subject •ropert shown in Exhi.bit:A to affordable. housing in accordance:with section 420.0004,.Florida Statutes,:and:the Monroe County Affordable Tourism Housing Program, for:99 years. Section 15. The Mayor and.County Administrator-are hereby authorized to execute documents in support of KWHA's funding. : Section 7•_This resolution shall take effect immediately upon its adoption • PASSED AND:ADOPTED by the Board of County:Commissioners of Monroe County, Florida; at a regular meeting held:on the•15 th day of January,:2025. : • : Mayor s K• Scholl;:District 3 : : Yes James . •. : ' : Mih 1 L.ri. . • olri,.District 2 Yes. ' Mayor Pro Tem� c el e :i c � Commissioner CraigCates, District 1 : Yes : Commissioner David Rice, District 4 ' Yes Commissioner. Holly Merrill Raschein, District 5 Yes . . . :BOARD OF COUNTY COMMISSIONERS: . OF MONROE COUNTY,:FLORIDA : .:mL'm - BY _ . . . ®R JAMES ` d Q.. _ vw','�g'''a? .. .. • .. .. .. .. .. (SEL)1, &0. F y :(,:i,4::iF,A.lirfE,.$43:fii\K-tyN MADOK, CLERK APPROVED AS'TO FORM&LEGAL SUFFICIENCX ;: •• �. ,. ;y Monr„ ounty'Attorney's Office P)'- AS 0( w alai) TY.CLERK : . N•thalia Mellies Archer• . 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