Item Q04 Q4
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
February 19, 2025
Agenda Item Number: Q4
2023-3624
BULK ITEM: No DEPARTMENT: Budget and Finance
TIME APPROXIMATE: STAFF CONTACT: John Quinn
N/A
AGENDA ITEM WORDING: A public hearing to consider approval of a resolution amending the
fiscal year 2025 budget for Fund 155, Affordable Housing Initiatives. The revised budget is
$279,374.00. The money in this fund was received as in-lieu fees to meet the Inclusionary Housing
Requirements of the Land Development Code.
ITEM BACKGROUND:
The purpose of the budget amendment is to bring forward the 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-lieu fees. 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 had 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
4502
affordable housing.
PREVIOUS RELEVANT BOCC ACTION:
On September 11, 2025, the Board of County Commissioners approved the FY2025 operating and
capital budget.
On January 15, 2025, the BOCC gave approval to advertise a public hearing for a budget amendment to
Fund 155 for FY2025.
INSURANCE REQUIRED:
No
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
Fund 155 - Budget Amendment- Resolution.pdf
REVI SED.Inclusionary.Fees.10.21.2024.pdf
FINANCIAL IMPACT:
N/A
4503
Resolution No. -2025
A RESOLUTION CONCERNING THE RECEIPT OF UNANTICIPATED FUNDS
WHEREAS,it is necessary to conduct a public hearing as required by section 129.06,Florida Statutes,to amend the following:
Affordable Housing Initiatives Fund 155 for the fiscal year beginning October 1,2024 and ending September 30,2025,now therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY,FLORIDA,that a Public Hearing was
conducted on February 19,2025 to amend the Affordable Housing Initiatives Fund 155 and to adopt the amended budgets as follows:
AFFORDABLE HOUSING INITIATIVES Current Inc./(Dec.) Revised
Revenues: Budget Budget
155 RC_00397 Fund Balance Forward $78,578.00 $200,796.00 $279,374.00
Total $78,578.00 $200,796.00 $279,374.00
Appropriations:
155 66000 530310 In-Lieu Fees $78,578.00 $200,796.00 $279,374.00
Total $78,578.00 $200,796.00 $279,374.00
BE IT FURTHER RESOLVED BY SAID BOARD,that the Clerk of said Board,upon receipt of the above,is hereby authorized and
directed to make necessary changes of said items,as set forth above.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County,Florida,at a regular meeting of the Board on the
19t'day of February,AD 2025.
Mayor James K.Scholl
Mayor Pro Tem Michelle Lincoln
Commissioner Craig Cates
Commissioner David Rice
Commissioner Holly Merrill Raschein
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY,FLORIDA
By:
Mayor/Chairman
(Seal)
Attest: KEVIN MADOK,Clerk
As Deputy Clerk
Page 1 of 1
4504
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