HomeMy WebLinkAboutItem F2COUNTY of MONROE
The Florida Keys
BOARD OF COUNTY COMMISSIONERS
Mayor Michelle Lincoln, District 2
Mayor Pro Tem David Rice, District 4
Craig Cates, District 1
James K. Scholl, District 3
Holly Merrill Raschein, District 5
Regular Meeting
January 28, 2026
Agenda Item Number: F2
26-0301
BULK ITEM: Yes DEPARTMENT: County Land Acquisition and Land
Management
TIME APPROXIMATE: n/a STAFF CONTACT: Emily Schemper
AGENDA ITEM WORDING: Approval to Use $504,000 of the Affordable Housing Trust Fund
(Fund 155) for Development Costs to Build One (1) Affordable Housing Unit at County -Owned Land
on W. Circle Drive, Bay Point Subdivision, on Saddlebunch Key, currently having Parcel
Identification Numbers 00160170-000000 and 00160160-000000.
ITEM BACKGROUND: In 2022, the Monroe County Land Authority purchased land on W Circle
Drive in the Bay Point subdivision on Saddlebunch Key (parcels having ID numbers 00160170-
000000 and 00160160-000000), and it was transferred to Monroe County BOCC ownership for park
use and construction of one affordable housing unit. The county has funding ($504,000+) available in
the Affordable Housing trust fund (Fund 155) for the construction of the affordable housing unit.
Staff are working on an RFP for design of a housing unit that can be built on the Bay Point property,
as well as on other county -owned sites for workforce housing.
Per Land Development Code Section 139-1(h)(4), the affordable housing trust fund may be used for
direct investment in housing development (see full subsection below).
Sec. 139-1 Affordable and Employee Housing; Administration.
(h) Affordable housing trust fund. The affordable housing trust fund (referred to as the "trust fund")
is established. The trust fund shall be maintained with funds earmarked for the purposes of furthering
affordable housing initiatives in municipalities and unincorporated areas of the county. Monies
deposited into the trust fund shall not be commingled with general operating funds of the county.
The trust fund shall be used only for the following:
(1) Financial aid to developers as project grants for affordable/workforce housing construction;
(2) Financial aid to homebuyers as mortgage assistance, including, but not limited to, loans or grants
for down payment assistance;
(3) Financial incentives for the conversion of units to affordable residential units;
*(4) Direct investment in or leveraging housing affordability through site acquisition, housing
development and housing conservation; or
(5) Other affordable housing purposes as may be established by resolution of the BOCC, which shall
act as trustees for the fund. The BOCC may enter into agreements or make grants relating to the use of
trust funds with or to the county housing authority or other local government land or housing
departments or agencies, a qualified community housing development organization or nonprofit or
for -profit developer of affordable or employee housing, or a municipality within the county.
PREVIOUS RELEVANT BOCC ACTION:
INSURANCE REQUIRED: Yes
CONTRACT/AGREEMENT CHANGES:
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
FINANCIAL IMPACT:
F2. Approval to Use $504,000 of the Affordable Housing Trust Fund (Fund 155) for
Development Costs to Build One (1) Affordable Housing Unit at County -Owned Land on
W. Circle Drive, Bay Point Subdivision, on Saddlebunch Key, currently having Parcel
Identification Numbers 00160170-000000 and 00160160-000000.