Resolution 456-1995
RESOLUTION NO 456-1995
A RESOLUTION APPROVING AN INTERLOCAL AGREEMENT
BETWEEN MONROE COUNTY AND MONROE COUNTY
HOUSING FINANCE AUTHORITY FOR THE DEVELOPMENT
OF AFFORDABLE HOUSING PROGRAMS AND PROVIDING
AUTHORIZATION OF $24,000 IN DIRECT REIMBURSEMENT
FROM FUND 100 FOR FY '95-'96 OPERATING
REQUIREMENTS OF THE MONROE COUNTY HOUSING
FINANCE AUTHORITY.
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WHEREAS, the Monroe County Board of County ~o~s"ners;:=
approved Resolution 059-1995, February 21, 1995, declaring the~~..' ue~nee~
for the Monroe County Finance Authority to function to alleviate~,-~horlle of;:,
housing and capital for inves1ment in housing within Monroe Co@!t:epurs~t t~
F.S. 159.604 (1) and appointing Board Members; and ~; -0 ~
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WHEREAS, the Monroe County Housing Finance Authority has
subsequently executed a contract for the purchase of a 23 unit affordable housing
apartment complex located at 755 41st Street in Marathon, receiving approval for a
Florida Housing Finance Agency (FHF A) HOME Loan; and is presently in
underwriting; and
WHEREAS, the Monroe County Housing Finance Authority has fulfilled
the multi-family rental loan application underwriting requirements; and
WHEREAS, the Monroe County Land Authority has approved a $59,025
first mortgage at OO~ interest rate for 50 years to the property; and
WHEREAS, the Monroe County Housing Finance Authority is considering
the issuance of Single Family Tax Exempt Mortgage Revenue Bonds in continued
support of the County's single family homeownersltip programs; and
WHEREAS, the Monroe County Housing Finance Authority requires Board
of Directors liability insurance and administrative support for the period of
October 1, 1995 through September 30, 1996, in meeting its minimal operating,
requirements.
NOW THEREFORE BE IT RESOLVED, that the Monroe County
Board of County Commissioners hereby authorizes the execution of the attached
Interlocal Agreement and, approves a $24,000 in direct reimbursement for
operating funds for the Monroe County Housing Finance Authority from Fund
100.
PASSED and ADOPTED, by the Board of County Commissioners of Monroe
County, Florida at a regular meeting of said Board held on the 218 t day of
November, A.D., 1995.
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
cSL7-fiuI~
BY:
Mayor Freeman
(SEAL)
ATTEST:
DANft E. XOLlIAcm,".eJilIII
Mayor Freeman
Mayor Pro Tern London
Commissioner Douglass
Commissioner Harvey
Commissioner Reich
yes
yes
yes
yes
yes
~b.l!-
Danny K age lerk the Court
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