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Home My WebLink AboutResolution 196-2025 RESOLUTION 196 -2025 A RESOLUTION OF THE MONROE COUNTY BOARD OF COUNTY COMMISSIONERS APPROVING $9,582,900.00 FOR ACQUISITION AND CONSTRUCTION FUNDING FROM THE MONROE COUNTY AFFORDABLE TOURISM HOUSING PROGRAM UPON MONROE COUNTY HOUSING AUTHORITY RECEIVING A LOAN COMMITMENT (IF REQUIRED) FOR FUNDING FOR THE ENTIRE PROJECT AND UPON RECEIPT OF BUILDING PERMITS FROM MONROE COUNTY FOR 18 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 LOTS 1 THROUGH 6, BLOCK 3,OCEAN SHORES SUBDIVISION,ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 5,PAGE 107, OF THE PUBLIC RECORDS OF MONROE COUNTY WITH PARCEL ID # 00187650-000000, 00187680-000000, 00187690-000000 AND 00187700-000000; 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 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 Page 1 of 4 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 Monroe County Land Authority (MCLA) negotiated the proposed agreement on the Board's behalf pursuant to an interlocal agreement between MCLA and the County authorizing MCLA to act as purchasing agent for the Monroe County Affordable Tourism Housing Program which will be considered at the May 21, 2025 Board of County Commissioners meeting; and WHEREAS, the Monroe County Housing Authority (hereinafter MCHA) is proposing to develop 18 new affordable housing units on land located at 23038 Overseas Highway, Cudjoe Key, legally described as Lots 1 through 6, Block 3, Cudjoe Ocean Shores, according to the plat thereof as recorded in Plat Book 5, Page 107, of the Public Records of Monroe County with Parcel ID Nos. 00187650-000000, 00187680-000000, 00187690-000000 and 00187700-000000 (subject property); and WHEREAS,the MCHA has plans to develop 18 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 MCHA has applied to the Program for $9,582,900.00 in acquisition and construction funding to facilitate purchase of the subject property and subsequent development; and WHEREAS, MCHA has requested $9,582,900.00 be disbursed upon issuance of building permits for the 18 units; and WHEREAS, the Board has determined that it should utilize tourist development tax revenue from two District Advisory Committees (DAC) consisting of$6,868,243.00 from DAC 1 and $2,714,657.00 from DAC 2 toward the acquisition of the subject property and subsequent construction of affordable housing on Cudjoe Key; and Page 2 of 4 WHEREAS, the Board of County Commissioners considered this resolution at a meeting held on May 21, 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. Section 2. Monroe County hereby commits $9,582,900.00 in FY25 for acquisition funding for Monroe County and construction funding for the Subject Property to Monroe County Housing Authority (MCHA). Section 3. The County will disburse total cost of purchase plus closing costs to the seller of the Subject Property and the remining funding to the MCHA, upon receipt from MCHA and approval by the County's Senior Director of Planning and Environmental Resources, or her designee, of the following: 1. a written loan commitment (if required) from a lender for the entire project cost; and 2. a proforma showing the entire project cost, certified by a licensed design engineer or architect; and 3. written confirmation from the County indicating permits are ready for issuance for the 18 new units; and 4. Proof of recorded LURA pursuant to section 4 below. Section 4. Prior to disbursement of any portion of the $9,582,900.00, the County and/or MCHA 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 Property to affordable housing in accordance with section 420.0004,Florida Statutes,and the Monroe County Affordable Tourism Housing Program, for 99 years. Section 5. The Mayor and County Administrator are hereby authorized to execute documents in support of MCHA's funding. Section 6.As consideration for donating land to this project, the MCHA will share income from the rentals on this property, less funds needed to operate and maintain the buildings and program, which the County will use for future affordable housing development. 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 21st day of May 12025 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK SIGNATURES ON FOLLOWING PAGE Page 3 of 4 • 3 Mayor James K. Scholl, District • Yes: . ..Mayor Pro TeTernMichelle Lincoln,n, District 2 Yes i i CraigCates,C omm ss oner ates District 1 Yes David Rice, Commissioner D av District 4 Yes Commissioner Holly Merrill Raschein,District 5 Yes BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY,:FLORIDA iii O" 0 i BY #y. ' :'. y M R JAMES K. SCHOLL. i�'3 d(: N}1.c'nr,, iV,:,4! ri4 ' 4 1;^';m^te }`ry '1'1 .. .. .. .. - .. ',I's.?1'r. —n rL\hY17 2 A'' L,�l�tY,,),,AVIN tl:i �Y;',l'' M F 1 MADOK 1 , CLERK. ,,�.1�i. t�:.5 i•'z,sail !`"�\ �:pri �� .. .. ,. �CA � .,,a 4�. V�� ri {1 "Ci>eta l��.r"j�q.�y� �,.�f ,,„\F-11'.7C.,tle, iz-iElVsc,,!,-217s.,, ? ,:.., :top at „,,,,,,,,,,,;:-;,-.:-.4:::i,,,,,..-,iii.;-3,..11:3 t...,!,t;-,F,,,;,,7),,...;,:,,,,/ -2,,,,_.,,;:),1---?; di-4w ...nc) \\\ -''-:-:-,:,,,--:-.:;,,,,,-."1'e;:i.,-;;;~ -4. b n co = ' ''" ' -4 AA-10 LIVYVICir c:' r AS DEPU CLERK • � W. :: , ;: • �• �- —r.. : s, -j-3 (II" ' "'",,,t44'''. Ap proved for form and legal sufficiency by: Robert rt B.• igita y signe y o eB. .. iin ger,Jr. S h I I I I g , Jr. Date:2025.05.28 16:27:22-04'00' n er Shillinger,Robert B. nger, Jr. Monroe County Attorney Page 4 of 4