Item I2
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: April 20, 2005
Division: Land Authority
Bulk Item: Yes No l
Staff Contact Person: Mark Rosch
Agenda Item Wording: Approval of a resolution authorizing the conveyance of Tract C, Porpoise
Point Section 4 on Big Coppitt Key to Florida Keys Community Housing and Land Trust, Inc, for
affordable housing.
Item Background: The Land Authority purchased the subject property at the request of Habitat for
Humanity of Key West and the Lower Florida Keys (HFH). In order to have more long-term control
over affordable housing, certain members of HFH have formed a new land trust called Florida Keys
Community Housing and Land Trust, Inc. HFH requests that the Land Authority convey the property to
this newly formed land trust for development. The property is zoned Suburban Commercial (SC) and
can be developed with up to 15 units of housing.
The proposed deed restriction allows for the development of either ownership or rental housing and
has been expanded to require a direct limit on the resale price, a right of first refusal in favor of the land
trust, SHIP certification procedures, a nullification provision, and a notice provision.
Advisory Committee Action: On March 23,2005 the Committee voted 5/0 to approve this resolution.
Previous Governing Board Action: On September 21, 2004 the Board entered into a contract to
purchase the property. On November 17, 2004 the Board authorized staff to close the transaction.
Contract/Agreement Changes: None.
Staff Recommendation: Approval.
Total Cost: $50.00 recordino fee
Budgeted: Yes -2L- No_.
Cost to Land Authority: $50.00
Source of Funds: Land Authority
(Tourist Impact Tax and State Park Surcharge)
Approved By: Attorney
County Land Steward
Executive Director Approval:
h1-\
( Mark J. Rosch
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY AUTHORIZING
THE CONVEYANCE OF TRACT C, PORPOISE POINT
SECTION 4 ON BIG COPPITT KEY TO FLORIDA KEYS
COMMUNITY HOUSING AND LAND TRUST, INC. FOR
AFFORDABLE HOUSING.
WHEREAS, section 380.0666(3), Florida Statutes (FS) and section 9.3-2, Monroe County
Code, empower the Monroe County Comprehensive Plan Land Authority (hereinafter "Land
Authority") to acquire and dispose of interests in real property for the purpose of providing
affordable housing to very low, low, and moderate income persons as defined in section
420.0004, FS, where said acquisitions are consistent with a comprehensive plan adopted
pursuant to Chapter 380, FS; and
WHEREAS, the Land Authority has purchased Tract C, Porpoise Point Section 4 as an
affordable housing site; and
WHEREAS, certain members of Habitat for Humanity of Key West and Lower Florida Keys, Inc.
(hereinafter "HFH") have formed a Florida non profit corporation known as Florida Keys
Community Housing and Land Trust, Inc. in order to have better control of affordable housing
over the long term;
WHEREAS, on February 23, 2005, HFH representatives appeared before the Land Authority
Advisory Committee and requested the Land Authority to convey title to the subject property to
Florida Keys Community Housing and Land Trust, Inc, for development with affordable housing;
and
WHEREAS, the Land Authority Advisory Committee considered this resolution at a meeting
held on March 23,2005 and voted 5/0 to recommend approval; NOW, THEREFORE,
BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND
AUTHORITY:
Section 1, The Chairman of the Land Authority Governing Board is hereby authorized to sign a
deed conveying title to the subject property to Florida Keys Community Housing and Land
Trust, Inc. Said deed shall restrict future use of the property to the requirements specified in
Attachment A.
Page 1 of 2
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this day of 2005.
(Seal)
ATTEST:
Mark J. Rosch
Executive Director
Approved for Legal Sufficiency
Larry R. Erskine
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
David P. Rice
Chairman
Page 2 of 2
ATTACHMENT A
AFFORDABILlTY COVENANTS
1. Affordability Period. These affordability requirements shall run with the property in favor of
the Monroe County Comprehensive Plan Land Authority (hereinafter "MCLA") and shall not
expire.
2. Income Limits, Use and Transfer Restrictions. Florida Keys Community Housing and Land
Trust, Inc. (hereinafter "FKCHL T") shall make the property available as either ownership
housing or rental housing in accordance with the conditions specified below.
2.1. Ownership Housino. FKCHL T shall retain title to the land under ownership housing and
shall not subsequently transfer title to the land without prior written approval of MCLA.
Ownership of the improvements, together with a leasehold interest in the land, may be
conveyed by FKCHL T subject to the following conditions.
2.1.1. Use and Occupancy. The subject property shall be owner occupied and used as
the homeowner's primary residence and such other uses incidental to residential
use as may be permitted by local zoning and land use regulations.
2.1.2. Income Qualified Buyers. Ownership shall be restricted to very low income
persons, low income persons, or moderate income persons as defined in
S420.0004, Florida Statutes (hereinafter "Income Qualified Buyer").
2.1.3. Affordability. Monthly mortgage payments shall be affordable as defined in
S420.0004, Florida Statutes.
2,1.4. Resale Limits. The leasehold estate and the improvements located thereon may
be transferred, subject to the provisions of Paragraph 2.1.2 above, provided the
transfer price does not exceed 25.5 times the monthly median household income
for a family of four residing in Monroe County, Florida at the time of the transfer.
2.1.5. Rioht of First Refusal. All deeds or instruments conveying title to the
improvements shall expressly set forth a right of first refusal in favor of FKCHL T.
2.1.6. Special Provisions. (None)
2.2. Rental Housino. FKCHL T shall retain title to the land and improvements and shall not
subsequently transfer title to same without the prior written approval of MCLA.
2.2.1. Use & Occupancy. The subject property shall be operated, managed and
otherwise administered as permanently affordable rental housing and such other
uses incidental to residential use as may be permitted by local zoning and land use
regulations.
2.2.2. Income Qualified Tenants. Occupancy of rental housing units shall be restricted
to very low income persons, low income persons, or moderate income persons as
defined in S420.0004 (hereinafter "Income Qualified Tenant").
2.2.3. Affordability. Monthly rents shall be affordable as defined in S420.0004, Florida
Statutes.
2.2.4. Special Provisions. (None)
3. Profit. FKCHL T is a not-for-profit corporation. FKCHL T is prohibited from earning profit on
the subject property.
4. Refinancino Limits. FKCHL T shall be prohibited from encumbering the land for any purpose
without the prior written approval of MCLA, except for encumbrances for projects resulting
in capital improvements to the property.
5. Affordability Monitorino. FKCHL T will be responsible for ensuring these affordability
requirements are maintained. Prior to occupying the property, all buyers and tenants must
be certified by the Monroe County Housing Authority as to compliance with Paragraphs
2.1.2, 2.1.3, 2.1.4, 2.2.2, and 2.2.3 above using the State Housing Initiatives Partnership
(SHIP) requirements of 24 Code of Federal Regulations Part 5. FKCHL T shall be
responsible for obtaining said certifications from the Monroe County Housing Authority and
shall provide a copy thereof to MCLA.
6. Nullification. Any written instrument attempting or purporting to sell, convey, grant, transfer,
exchange or assign any legal or equitable rights or interests to the property shall be
deemed null and void where such instrument is, on its face or in effect, inconsistent with or
contrary to these covenants.
7. Notice. All deeds or instruments conveying title to the property or improvements shall
expressly set forth verbatim this and the foregoing covenants or, in lieu thereof, incorporate
them by specific reference to this Warranty Deed, by Book and Page numbers where
recorded in the Public Records of Monroe County. In addition, the grantee in any such
conveyance shall execute and record with the documents of conveyance an affidavit
certifying that FKCHL T has advised grantee as to the meaning of said covenants and
certifying that grantee understands and accepts said covenants.
Covenants Acknowledged and Accepted by Florida Keys Community Housing and Land Trust,
Inc.
By:
Date:
Jerry Coleman, Director
Division of Corporations
Page 1 of2
Florida Non Profit
FLORIDA KEYS COMMUNITY HOUSING AND LAND TRUST, INC.
PRINCIPAL ADDRESS
17 SHIPS WAY
BIG PINE KEY FL 33043
MAILING ADDRESS
17 SHIPS WAY
BIG PINE KEY FL 33043
Document Number
N04000005523
FEI Number
NONE
Date Filed
06/02/2004
State
FL
Status
ACTIVE
Effective Date
NONE
Registered Agent
Name & Address
COLEMAN, JERRY
201 FRONT STREET
SUITE 203
KEY WEST FL 33040-8347
Officer/Director Detail
I Name & Address II Title I
BELL, MARK D
2994 ])JANE ROAD
BIG PINE KEY FL 33043
SMITH, JIM D
30332 KILLDEER LANE
BIG PINE KEY FL 33043
COLEMAN, JERRY D
2120 SEIDENBERG A VENUE
KEY WEST FL 33040
http://www.sunbiz.org/scripts/cordet.exe?a1 =DETFIL&n1 =N04000005523&n2=NAMFW... 3/31/2005
Division of Corporations
Page 2 of2
II
Annual Reports
Report Year II Filed Date
II
Previous Filing [ Return to List]
No Events
No Name History Information
[ Next Filing]
Document Images
Listed below are the images available for this filing.
t IO(j[02/2004 .--12QI11(;l~ti(;NQI1:Pmfit
II
THIS IS NOT OFFICIAL RECORD; SEE DOCUMENTS IF QUESTION OR CONFLICT
http://www .sunbiz.org/scripts/cordet.exe?al =DETFIL&n 1 = N04000005523&n2=NAMFW... 3/31/2005
I
11 10
11 "",
11
11 10 11 .
1. 11 1. 11
10 1. 11 . 13 <I T
...1
([
. 1. T Z 1. 1<1 1
([
U
...1
. ([ 11 1. . 11 I
Z
([
U
11 1. 1 1.
...1 ~ 2
([ 1. 11
Z
([
U
11
12
.
IS
'"
14
3
2
o
o
o 0
{\O
Mile Marker
10.6
Island Big Coppitt Key
Property
Porpoise Point Subdivision