Item C3
lAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: February 17, 2000
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of a resolution authorizing a local contribution in the form of a
mortgage to subsidize the Tradewinds Hammocks affordable housing development on Key Largo.
Item Background: The proposed resolution authorizes a zero-interest, 50-year mortgage from the
Land Authority in the amount of $1,952,000 and authorizes the Chairman to sign the corresponding
local contribution application form to the Florida Housing Finance Corporation (FHFC) as a subsidy for
the 122-unit Tradewinds Hammocks affordable housing development on Key Largo.
The Tradewinds Hammocks project has not completed the County development review process. The
proposed resolution is on the agenda now so the Board can consider Land Authority participation prior
to the March 8, 2000 deadline for FHFC funding.
See the attached memo for further background information. Additional documentation for this item
includes the FHFC local contribution form, a financial pro forma (10 pages), and the narrative portion of
the project's minor conditional use application (30 pages).
Advisory Committee Action: On 2/1/00 the Advisory Committee voted 5/0 to approve the proposed
resolution.
Previous Governing Board Action: On 10/14/99 the Governing Board approved adding a portion of
the subject property to the Acquisition List.
Staff Recommendation: Approval, subject to Growth Management development review and
permitting.
Total Cost: $ 1,952,000.00
Budgeted: Yes X
No
Cost to land Authority: $ 1,952,000.00
Approved By: Attorney ~
OM B/Purchasing
Risk Management
Executive Director Approval:
~~~~
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #3
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY APPROVING A
MORTGAGE AGREEMENT AND PROMISSORY NOTE FOR
USE WITH TRADEWINDS HAMMOCKS, LTD. TO PROVIDE
AFFORDABLE HOUSING AND AUTHORIZATION FOR THE
CHAIRMAN TO EXECUTE THE ASSOCIATED FLORIDA
HOUSING FINANCE CORPORATION APPLICATION FORM.
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 an interest in real property for the purpose of providing affordable housing to very low,
low, or 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, MRT of the Florida Keys, L.L.C., a limited liability company and Heritage Rural
Housing, Inc., a Florida corporation, propose to form Tradewinds Hammocks, Ltd., a limited
partnership (hereinafter "Owner") for the purpose of constructing, owning, and operating 122
units of affordable rental housing known as Tradewinds Hammocks (hereinafter "housing
development") on Key Largo to provide housing for persons of very low and low incomes for a
period of 50 years; and
WHEREAS, in order to finance the $13,083,464 total cost of the housing development, the
Owner proposes to apply on March 8, 2000 for tax credits and a HOME loan from the Florida
Housing Finance Corporation (hereinafter "FHFC"), a public corporation created within the
Florida Department of Community Affairs pursuant to section 420.504, FS; and
WHEREAS, the application process for the FHFC tax credit program is highly competitive and
awards maximum points to those applicants providing a local contribution in the amount of
$500,000 or 5% of the total project cost ($654,174), whichever is less; and
WHEREAS, the Owner states that it is necessary to receive subsidies in the form of a
$1,952,000 mortgage loan from the Land Authority and $244,000 in impact fee waivers from
Monroe County in order to make this project financially feasible; and
WHEREAS, the Land Authority Advisory Committee considered this proposal at meetings held
on January 26, 2000 and February 1, 2000 and voted 5/0 to recommend approval of the loan
subject to the requirements contained in this Resolution; and
WHEREAS, the Governing Board wishes to approve the Advisory Committee's
recommendations; NOW, THEREFORE,
BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY:
Section 1. Effective immediately, the Land Authority Chairman is authorized to sign FHFC Form
5, Page 7 of 10, indicating a local government contribution in the form of a zero-interest, 50-year
loan in the amount of $1,952,000.00 in support of the Owner's application to FHFC for a HOME
Page 1 of 3
loan in the amount of $3,050,000 and tax credits in the annual amount of $610,000 for ten years
for the housing development.
Section 2. On or about March 31, 2000, the Land Authority Executive Director is authorized to
disburse $660,000 to the Owner provided all of the following conditions have been satisfied.
a) The Owner has provided to the Land Authority a copy of the completed application for tax
credits and a HOME loan and proof that the Owner submitted said application to FHFC by
the March 8, 2000 application deadline.
b) The Monroe County Planning Director has provided notice that the 40-unit affordable
housing project on the 5.11-acre parcel described in Attachment A has been fully approved
for development.
c) The Land Authority's legal counsel has provided notice that the Owner has executed a zero-
interest, 50-year first mortgage agreement and promissory note for the amount of $660,000
encumbering the property described in Attachment A. In the event FHFC has not awarded
the tax credit and HOME loan commitment by the conclusion of three application cycles,
beginning with the March 8, 2000 cycle, the Owner shall convey the property described in
Attachment A to the Land Authority free and clear of any encumbrances.
d) The Land Authority's legal counsel has provided notice that use of the property described in
Attachment A has been permanently restricted by deed restriction to affordable housing for
very low, low, or moderate income persons as defined in section 420.0004, FS. Said deed
restriction shall also reference the affordable housing requirements of the Monroe County
Land Development Regulations and shall impose said requirements permanently,
notwithstanding the normal 20 or 25 period of said regulations.
Section 3. On or about June 15, 2000, the Land Authority Executive Director is authorized to
disburse $600,000 to the Owner provided all of the following conditions have been satisfied.
a) The Monroe County Planning Director has provided notice that the 122-unit affordable
housing project located on the combined area of all of Tract E of Trade Winds subdivision
together with Block 4, Lots 1-14, Industrial Acres subdivision as described in Attachment B
has been fully approved for development.
b) The Land Authority's legal counsel has provided notice that the Owner has executed a zero-
interest, 50-year first mortgage agreement and promissory note for the amount of
$1,260,000 encumbering the property described in Attachment B and replacing the
mortgage and note referenced above in Section 2(c). In the event FHFC has not awarded
the tax credit and HOME loan commitment by the conclusion of three application cycles,
beginning with the March 8, 2000 cycle, the Owner shall convey the property described in
Attachment A to the Land Authority free and clear of any encumbrances.
c) The Land Authority's legal counsel has provided notice that use of the property described in
Attachment B has been permanently restricted by deed restriction to affordable housing for
very low, low, or moderate income persons as defined in section 420.0004, FS. Said deed
restriction shall also reference the affordable housing requirements of the Monroe County
Land Development Regulations and shall impose said requirements permanently,
notwithstanding the normal 20 or 25 period of said requirements.
Section 4. The Land Authority Executive Director is authorized to disburse $692,000 to the
Owner provided all of the following conditions have been satisfied.
Page 2 of 3
a) The Land Authority's legal counsel has provided notice that the Owner has secured the
construction loan necessary to build the 122-unit project.
b) The Land Authority's legal counsel has provided notice that the Owner has executed a zero-
interest, 50-year mortgage agreement and promissory note for the amount of $1,952,000
encumbering the property described in Attachment B and replacing the mortgage and note
referenced above in Section 3(b).
Section 5. The Land Authority will subordinate the mortgages referenced in Sections 2(c), 3(b),
and 4(b) above only to the following loans obtained by the Owner in furtherance of developing
the property: a conventional first mortgage, a second mortgage in favor of FHFC with 20-year
term, and a third mortgage in favor of a member of the Federal Home Loan Bank with a 10-year
term.
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority at a
regular meeting on this day of 2000.
(Seal)
ATTEST:
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
Mark J. Rosch
Executive Director
Nora Williams
Chairman
Approved for Legal Sufficiency
Larry R. Erskine
Page 3 of 3
A TT ACHMENT A
RE# 454611-000500,454611-000600, 454611-000700, 454611-000800, 454611-000900,
454611-001000, and 454611-0011000
A part of Tract "E", TRADE WINDS, according to the Plat thereof as recorded in Plat Book 7,
at Page 42 of the Public Records of Monroe County, Florida, being more particularly described
as follows:
BEGINNING at the Northwest corner of Tract "E", of the aforementioned plat of TRADE
WINDS, thence bear North 89 degrees 52 minutes 54 seconds East along the North line of said
Tract "E" and the South line of Samson Road for a distance of164. 85 feet to a point; thence bear
South 00 degrees 06 minutes 57 seconds West for a distance of326.75 feet to a point; thence
bear North 89 degrees 52 minutes 54 seconds East for a distance of 160.00 feet to a point on the
East line of said Tract "E"; thence bear South 00 degrees 06 minutes 57 seconds West along the
East line of Tract "E" for a distance of524.29 feet to the Southeast corner of Tract "E"; thence
bear South 89 degrees 52 minutes 54 seconds West along the South line of Tract "E" for a
distance of321.37 feet to the southwest corner of Tract "E"; thence bear North 00 degrees 07
minutes 06 seconds West along the West line of Tract "E" for a distance of 851.03 feet back to
the POINT OF BEGINNING, containing 5.11 acres, more or less.
ATTACHMENT B
All of Tract E of Trade Winds subdivision, according to the Plat thereof as recorded in Plat Book
7 at Page 42 of the Public Records of Monroe County, Florida; and
Block 4, Lots 1 through 14 inclusive of Industrial Acres subdivision, according to the Plat thereof
as recorded in Plat Book 5 at Page 15 of the Public Records of Monroe County, Florida; and
The portions of Troup Road, Maule Lane, and Buttonwood Lane to be abandoned, more
particularly described on the following pages as Vacation Descriptions #1 and #2.
ATlQt.l DESCRIPTION .1 .
CRIPTlON tOR PROPOSED VACA nON or PORTlONS OF TROUP ROAD, MAULE LANE MolD
TON\roOD LANE
IN 0. t thto South"~st CorrM>r of Lot 1-4, Btock ", INDUSTRIAL ACRES, o.ccordlng
;'th~ Plo.t ther.of, o.s rpcorck>d In Plat Book 5, 0.1: Pnge 15 of t~ Public R~cot"d5
t" ,Monroe COutlty, rlorldo.) th'!'nce run EAST along tn. South line of Lots I through
,of Sllld Block 4, INDUSTRIAL ACRES, for 0. dlsto.nce of 1377.30 ff".1: to the Polnt
<," CurVQtur. of 0. curv" COnco.vp to the Northwest, ho.vlng 0. Nldlus of' 25.00 feet
, a c t"f"Itr 0.1 o.ngll> of 8<r~1'46~) thl'nc. o.long thl" o.rc of !>(\Id cur". In 0. North-
: ...terly dlr~ctton for 0. d1sto.nc~ of 39.21 feet to the Po+nt of To.ngency of So.ld
,.ve) tht-nc. rUf'l N.OO"08'14' E. o.long the E0.5t line of So.ld Lot 1, Block 4,
: 1WDUSTRlAL ACRES, for 0. d1sto.nce of' 60.91 fpet to ~ Point of Curva ture of 0.
'i VP conco.v. to t~ Southwest, having a ro.dlus of 25.00 feet o.nd a centro.l
; ,'e of 90014'03') thence o.lol"tg ~ o.rc of SQld curve In a Northwesterly
... ' ctlon fol" 0. dfsto.nce of 39.37 fpet to the Point of Tangency of so.ld curve)
,: nee I"UI"I S. 89"S.nl' \I., o.{ong the North line of so.ld Lots 1 through 14, Block
!",~NDUSTRIAL ACRES, for 0 dlsto.nce of 1377.59 fee't to the Northwest corl"t~ of
" , Lot 1-4, Stock 4, INDUSTRIAL ACRES) thence run N. OlrOS'~9' 'J along thp North-
~',' . y prolongotlon of thp \lest line of So.ld Lot 14, for 0. d1sto.nce of 50.00 fHt to
1,'\ point on the South line of Tro.ct 'A', TRADE\lINDS, o.ccordlng to th€> Plo.t the,..(>of,
': recorded In Plot Book 7, at Po.Qe 42 of thE.> Public Re'cords of Monrot> County,
~i ,,' Ido.J thpnce run N. 89"S~'11~ E. o.long the South lint> of Tro.cts 'A' o.nd 'E' of
. TRADE'JINDS, for 0. dlsto.nce of 1427.89 fpet to a point on ~ Eo.st rlght-of-
~ lln@ of Mo.ute Lo.ne o.forp50ld) thE-nct> run S, 00"oa'14~ \I. o.long salol Eo.st rlgh-
'~wo.y line for 0. dlsto.nce of 211.00 fpet to 0 point on the North lint> of Lot 13,
.ck 1, HISBISCUS PARK, o.ccordtng to the PI 0. t the-reof, 0.5 recOf"'dPd In Plo. t Book
:tt. 0. t Po.Qf" 166 of the Public Records of Monroe County, Florida) the-nce run 'JEST
~ the North line of Lots 13 through 21, of sold Btock 1, HISBISCUS PARK, to the
~t of Curvoture' of 0. curve concave to th4:" Southeo.st, ho.vlng 0. radlus of 25.00
......t and 0. cf"n"tl"o.l o.ngll" of WOO'OO') thence olong t~ o.rc of sold curve In 0.
'~.,.thwes"terly dlr'ectlon for 0. dlstG.ncl" of 39.27 feet to the Point of Tangency
~ So.ld curve) thence run NORTH o.long "the Northl"rly prolongctlon of the \Jest line
.~ so.ld Lot 21, Block L HIBISCUS PARK, for a d1!>to.nce of 50.00 fe'et to It's In"ter-
f' -- tlon with the F:o.stprly prolonQO.tlol"t of the North line of Block 2 sold HIBISCUS .
, '.. : ) thence I"un \lEST o.lol"tQ so.ld Eo.st(>rly prOlonQCl tlon for 0. dlsto.nce of 40.00 f@'f"t
! ,the Northeo.st corner of Lot 1. So.ld Block 2. HISBISCUS PARK) ttKonce run NORTH
:, g the Northl"rly prolong.o.tlon of the East line of sold Lot 1, Block 2 fol" 0.
\_tQ~ of 12.50 feet to It's tntprsectlon wtth thp Centerllrw of Buttonwood Lo.ne,
~;ie5 foot .rlght-of-wo. y o.S deptcte'd Ol"t the 0 f ore'so.ld PI 0. t of INDUSTRIAL ACRESs thence
. 'WEST along so.ld Centerline of Buttonwood Lo.ne for a distance of 970.94 feet to
titersectlon with thE> SouthE'rly prolongation of the \lest line of Lot 14, Block 4,
tilI[)USTRIAL ACRES o.forpsold) thencE' run N. 00005'49' 'vi. o.long so.ld Southerly prolongation
'~, 0. dIstance of 12.S0 f ~(>t to the said Southwest cOl"ner of Lot 14, Block 4, INDUSTRIAL
A(;REs o.nd to the POINT or BEGINNING.
~to.lns 108539.33 sQuo.re feE"t. ~re or l€"Ss.
VACATION DESCRIPTION" 2
OCSCRIPTION FOR THE PROPOSED VAC"- TION or A PORTION or BUTTON'w'OOON LANE.
BEGIN 0. t thE'.Northnst corner of lot L Block ~, HtSBJSCUS PARK, G.ccorclng to t.....
plo. t therPOf, as rt"cordttd In Plat Book 3, 0. t Po.~ 166 of tN P'""t1c RKords of'
Monroe County, florldo.J t~nc~ run 'w'EST o.long t~ North l~ of lots J through l'
o.nd 0. portion of Lot 20 said lHocl< 2, HISBISCUS PARt< for a dfstnnaa of 970.92 f~t .
to It's IntE'rseoctlon wIth the Southerly prolonoo.tlon of the \t'{>>st Une of' Lot 14, Blod< ..,
INDUSTRIAL ACRES, according to the Plo.t thereof, os rpcorded In Plo.t Book 5, o.t Po.~ 15
of the Pubtlc Records of Monroe Courrty, rlorlc:Ao.J ~e rlJf'\ N. 00.05'49' E. a.long so.ld
SouthE'rly prolongo.tlon for 0. dlrto.nct" of 12.50 fH't to th~ C.nt~llne of Buttonwood La...,
0.. 25' dght-of'-Wo.y 0.5 deplcWd on thl' o.foresatd pta.t ~ INDUSTRIAL ACRESJ t.....nce run EAST
o.long so..ld Center-Une for 0. dlsto.nce of 970.94 feet to It's Int~r,.~on wIth th4t Norttwr\y
prolongo. tlon of the East line of Lot L Block 2, HlSBISCUS PARK 0. forl"So.ldJ thl'nct> run SOUTH
o.long so.ld North~rly prolongatIon for 0. dlstonce of 12.50 feet to t~ o.f'oreso./d NOt"'~st
corner of Lot 1, Block 2., HISBUSCUS PARK o.nd to t~ POlNT or BEGINNING.
Conto.lns 12134.5 squo.re f'"t, !'lore or less.
MEMORANDUM
TO:
Land Authority Governing Board
FROM:
Mark J. Rosch, Executive Director
MJ'L-
:..----
DATE: February 4, 2000
SUBJECT: Tradewinds Hammocks Affordable Housing Development
Tradewinds Hammocks Ltd. proposes to construct, own, and manage 122 units of affordable
rental housing for persons of very low and low income for a period of 50 years in participation
with the Florida Housing Finance Corporation's (FHFC) tax credit and HOME loan programs.
Tradewinds Hammocks Ltd. is a limited partnership consisting of MRT of the Florida Keys
(Peter Rosasco, Pedro Falcon, and David Tuttle) and Heritage Rural Housing, Inc. (a
corporation located in Cape Canaveral specializing in the development of affordable housing).
The FHFC is a public corporation created by the Legislature within the Department of
Community Affairs. Attached to this memo is a table summarizing the project's proposed
financing and rents.
The subject property consists of 11.55 acres of hammock, disturbed hammock, disturbed land,
and mangroves adjoining the Tradewinds Shopping Center on Key Largo. The property is
zoned Urban Residential (UR) and designated Residential High (RH) on the Future Land Use
Map. Ordinarily Comprehensive Plan Policy 601.1.14 would prohibit the Land Authority from
subsidizing development in hammock areas, but Policy 101.2.4 and Growth Management
Administrative Interpretation 99-2 provide an exception for those cases when the development
is affordable housing and the property is designated RH on the Future Land Use Map.
The proposed resolution calls for a zero-interest mortgage in the amount of $1,952,000 from the
Land Authority for a term of 50 years. The owner proposes that this amount, together with a
$244,000 waiver of County impact fees, serve as the local contribution in an application to
FHFC for State funding in the form of a $3,050,000 HOME loan and tax credits in the annual
amount of $610,000 for ten years. Although the Land Authority's mortgage exceeds the
$500,000 necessary to receive the maximum points for local contribution on the FHFC
application for tax credits, the owner's pro forma indicates a subsidy of this amount is necessary
to make the project financially feasible. The Land Authority has obtained two appraisals of the
land and the proposed $1,952,000 mortgage does not exceed the property's average appraised
value assuming the property has all necessary development approvals for 122 units. The
remainder of the project funding would come from a $2,457,655 conventional mortgage and
$748,689 in deferred developer's fees, bringing the total project cost to $13,083,464. Prior to
funding the project, the FHFC will conduct an independent financial review of the entire project
as part of the underwriting process.
If approved, this project would be the Land Authority's first partnership with a private for-profit
developer, which raises the issues of profit and risk. The developer's fee (inclusive of expenses
and overhead) for this project is 16%, which is consistent with the limit established by the FHFC
requirements. With respect to risk, we have attempted to minimize this issue by releasing the
Land Authority's funds in phases, by working with a developer (Heritage Companies)
1
experienced with using tax credits to develop affordable housing in the Keys, and by bringing
the funding, structure, and controls of the FHFC into the project.
The proposed resolution links disbursement of Land Authority funds to specific milestones in the
application and permitting process, as well as the owner's commitments to make payments on
the property. Up until the final disbursement, the Land Authority's mortgage would be in first
position. Once the other funding sources have been secured, the Land Authority's entire
funding would move to third or possibly fourth position.
FHFC tax credits have funded other affordable housing developments in the Keys. The Monroe
County Housing Authority used tax credits to finance Eastwind Apartments in Marathon.
Additionally, the Heritage Companies used tax credits to develop Mariner's Cove Apartments in
Key West. Both of these projects were built in the past 10 years, so there is no example in the
Keys of tax credit housing that has been in existence for the full 50-year affordability period.
The Key West Housing Authority has decided to use public housing bonds and a HOME loan
instead of tax credits for the financing of the proposed housing on the Fairgrounds property in
Key West.
The application process for receiving tax credits is extremely competitive. In the event the
Tradewinds application to FHFC is not successful this year, the proposed resolution would allow
the owner two additional funding cycles to secure FHFC funding, failing which title to the
property would be conveyed to the Land Authority to allow alternative affordable housing
initiatives on the site. In the event the Tradewinds application to FHFC is successful and the
housing is built, the FHFC will be responsible for monitoring affordability for the compliance
period of 50 years.
Regardless of the success of the FHFC application, the proposed resolution calls for the
property secured by the Land Authority mortgage to be permanently restricted for use as
affordable housing from the time the Land Authority funds are released. After 50 years the
owner will have no further obligation to FHFC, however the Land Authority's deed restriction will
remain in place indefinitely. The Land Authority's deed restriction would not guarantee the
condition or even the existence of housing after the 50-year FHFC period without additional
public subsidies at that time, but it would preclude the owner from using the property for
purposes other than affordable housing.
Funding for the proposed $1,952,000 Land Authority mortgage would come from the Land
Authority's local funds reserved for acquisitions in the Florida Keys Area of Critical State
Concern. This fund has a current unencumbered balance of approximately $4.0 million.
In order to allow the Governing Board an opportunity to consider Land Authority participation in
the Tradewinds Hammocks project prior to the March 8, 2000 deadline for FHFC funding, it has
been necessary for staff and the Advisory Committee to review the proposal in advance of the
County permitting process. Obviously the Land Authority should only participate if the project
obtains all necessary development approvals and permits.
2
Tradewinds Hammock 122-Unit Affordable Housing Development
Financing
Local Contributions
Land Authority Mortgage
County Impact Fees of $244,000
FL Housing Finance Corporation (State Contributions)
Tax Credit Equity
HOME Loan
Conventional First Mortgage (Private Lender)
Deferred Developer's Fees
Total Project Cost
$1,952,000
fees waived
$4,875,120
$3,050,000
$2,457,655
$748,689
$13,083,464
Housing Type and Affordability
Income % of Median Net Size Net Rent
Unit Type # of Units Level Income (sq. feet) (per month)
Efficiency-1/1 2 Very Low 28% 700 $220.00
Efficiency-1/1 1 Very Low 50% 700 $422.38
Efficiency-1/1 9 Low 60% 700 $514.00
Subtotal 12
2 BR/2 Bath 11 Very Low 28% 890 $263.00
2 BR/ 2 Bath 4 Very Low 50% 890 $506.25
2 BR/ 2 Bath 57 Low 60% 890 $616.00
Subtotal 72
3 BRI 2 Bath 6 Very Low 28% 1050 $299.00
3 BR/ 2 Bath 1 Very Low 50% 1050 $579.88
3 BR/2 Bath 31 Low 60% 1050 $707.00
Subtotal 38
Total Units 122
I H'-'L Ul
"2000 COMBINED ~NT AL CYCLE
FORM 5
LOCAL GOVERNMENT CONTRIBUTIONS
PAGE 7 OF 10
20 Points
Name of ApplICant
LOCAL GOVERNMENT VERIFICA liON OF CONTRIBUTION
LOAN
Tradewinds Hammnt':ks::, f.lJ1n
Ncllne of Development ~~dwind~ F{;'lmmnr!cc
location/Address:
~.::>y Lara/") FT.()RTnA.... .
. (Street. City)
Complete the following:
Auf--hori ty
The Monroe CountJZ.:Iiiand m-- Monroe County FL
(City or County) (Name Of City Dr CQunty)
$ 1. 952 . 00 0 _ 00 in the form of a reduced interest rate 108n to the Applicant listed for its use
(Loan Arncl.Int)
solely for assisting the proposed Development referenced above. The IOBn will bear interest at a rate of
has committed
_ 0 - % per annum over a period of 50
years. The loan's repayment perioc:l, amortization
period. payment frequency and other applicable tem'ls are:
No amortization with 1 payment equal to $1.95'. noo nn ,"'+- th~ ~nA
of JO years.
The folloWing government point of contact can verify the above stated contributIOn:
Mark Rosen, Executive Director
Name of Govemment Contact: Monroe county Land AuUu)L'lLv
Mailing Addre5.5: 1200 Truman Avenue Suite 207
City, Stat4&&Zip Key West, FL. 33040
CERTlFICA nON
I certify that the above information is true and correct
Telephone No.: ~OI:'\-7Q C\ "1 RO
Signature
Telephone Number
PRINT or TYf!lE Name
PRINT or TYPE Tlt1e
NOTE TO LOCAL GOVERNMENT OFFICIAL;
Innstructure Improvements that are not specifically made for the benefit of this Development but are
instead of general benefit to the area in which the Development is located will NOT qualify as a
contribution to me DevelOpment Further. the fact that nO impact fees or oth~r tuch fees life IeYied by a
local jurisdiction for ANt type of development DOES NOT constitUte a "Load Government Contribution"
to the proposed DevelOpment Similarly, if 5uoh fec~ ARE levied by the local jurisdiction but the nature of
the proposed Development exempts it (e.g., typically. a Rehabilitation Development Is not subject to
impact fees), fOr purposes of this fenn, no ULocaI Gowmment Contribution" ~)(ists ~nd no points will be
awarded.
THIS FORM MUST ae SIGNeD BV THE MAYOR, CITY MANAGER, COUNTY MANAGER!
ADMINISmA TOR, CHAIRPERSON OF THE CITY C~NCIUCOMMISSION OR CHAIRPERSON OF THE
BOARD OF COUNTY COMMISSIONERS. IF THE CONTRIBUTION IS FROM A LAND AUTHORITY
ORGANIZED PURSUANT TO CHAPTER 380.0863, FLORIDA STATUES, THIS FORM MUST Ie SIGNED
BY THe CHAIR OF TH~ LAND AUTHORITY. OTHER SIGNA TORIES ARE NOT ACCEPTABLE. ZERO
POINTS W1LL S! AWARDED.
NOTE:
DO NOT 'SCAN., 'IMAGE", RETYPE OR OTHERWISE At.. TER THIS FORM. IT MAY BE
PHOTOCOPIED.
HERITAGE ACQUISITION AND DEVELOPMENT
PROJECT SUMMARY OF FUNDS
PROJECT: Tradewind Hammocks TOTALS
PROJECT LOCATION: Key Largo, Monroe County, FL GROSS SQ. FT.: 117,998
NO. OF UNITS: 122
COST DECRIPTION OF COST SUMMARY OF COST PER COST PER % OF %OF CONST.
CODE COST UNIT SQ. FT. COST CONST. COST COST
SITE DEVELOPMENT COST 1,398,547 11,463.50 11.85 0% 0% 11.85
CONSTRUCTION HARD COST 5,899,889 48,359.75 50.00 0% 0% 50.00
SITE AMENITY COST 250,000 2,049.18 2.12 0% 0% 2.12
GENERAL REQUIREMENTS 452,906 3,712.35 3.84 0% 0% 3.84
OVERHEAD COST 150,969 1,237.45 1.28 0% 0% 1.28
PROFIT 452,906 3,712.35 3.84 0% 0% 3.84
ARCHITECTURAL DESIGN FEES 61,000 500.00 0.52 0% 0% 72.93
ARCHITECTURAL INSPECTION FEE 12,200 100.00 0.10- . -- 0% 0%
ENGINEERING DESIGN FEES 103,822 851.00 0.88 0% 0%
ENGINEERING INSPECTION FEES 27,450 225.00 0.23 0% 0%
SURVEYS-ASBUIL TS-TESTING 24,400 200.00 0.21 0% 0%
BUILDING PERMIT COST 98,897 810.63 0.84 0% 0%
AQUEDUCT FEES/FL. KEYS COOP. 277,245 2,272.50 2.35 0% 0%
CONNECTION FEE COST - - - 0% 0%
PERFORMANCE & PAYMENT BOND 87,562 717.72 0.74 0% 0%
ADVERTISING/ MARKETING 35,000 286.89 0.30 0% -
LEGAL COST 75,000 614.75 0.64 0% -
ACCOUNTING COST 11,000 90.16 0.09 0%
APPRAISAL AND MARKET STUDY 9,000 73.77 0.08 0%
REAL EST ATE TAXES 44,720 366.56 0.38 0%
INSURANCE-lPROP./LIAB.BLDRS RI 35,990 295.00 0.31 0%
EN~RONMENTALCOST 3,500 28.69 0.03 0%
TAX CREDIT FEES 69,345 568.40 0.59 0%
TITLE INSURANCE 80,176 657.18 0.68 0%
CONSTRUCTION LOAN INTEREST 335,749 2,752.04 2.85 0%
CONSTRUCTION LOAN FEES 44,178 362.11 0.37 0%
SYNDICATION FEES 15,000 122.95 0.13 0%
BANK ENGINEER INSPECTIONS - - - 0%
PERMANENT LOAN FEES 24,577 201.45 0.21 0%
OPERATING RESERVE 135,453 1,110.27 1.15 0%
RECORDING FEES 4,880 40.00 0.04 0%
LEASE UP RESERVE 67,726 555.13 0.57 0%
LAND COST 973,000 7,975.41 8.25 0%
SUB TOTAL: 11,262,087 92,312.19 95.44 -
CONTINGENCY 150,969 1,237.45 1.28 0%
SUB TOTAL OF COST: 11,413,056 93,550 96.72 0%
DEVELOPERS OVERHEAD 417,602 3,422.97 3.54 0%
I
DEVELOPERS FEE 1,252,807 10,268.91 10.62 0%
! TOTAL PROJECT COST: 13,083,464 107,242 110.88 0%
1 st Run
1/22/00
UNIT MIX UNIT SQ. FT. 30"k CATG 40% CA TG 50"k CATG 60% CATG MKT RATE
1BR-1B 1BR-1B 1BR-1B 1BR-1B 1BR-1B 1BR-1B 1BR-1B
12 8,820 2 0 1 9 0
2BR-1B 2BR-1B 2BR-1B 2BR-1B 2BR-1B 2BR-1B 2BR-1B
0 - 0 0 0 0 0
2BR-2B 2BR-2B 2BR-2B 2BR-2B 2BR-2B 2BR-2B 2BR-2B
72 67,283 11 0 4 57 0
3BR-2B 3BR-2B 3BR-2B 3BR-2B 3BR-2B 3BR-2B 3BR-2B
38 41,895 6 0 1 31 0
4BR-2B 4BR-2B 4BR-2B 4BR-2B 4BR-2B 4BR-2B 4BR-2B
0 - 0 0 0 0 0
TOTAL
122
CLUBHOUSE
3000
1
1 st Run
TOTAL
117,998
TOTAL
6
TOTAL
97
TOTAL
o
1/22100
2
HERITAGE ACQUISITION AND DEVELOPMENT
BASE SHEET FOR ALL COST
PROJECT: Tradewind Hammocks NO. OF UNITS:
PROJECT LOCATION: Key Largo, Monroe County, FL ENGINEER:
ARCHITECT:
122
COST , I.....'~ UNIT UNIT TOTAL
CODES QUANITY COST COST
BASESHEETFORALLCOS~
CONSTRUCTION HARD COST 122 48,359.75 5,899,889.00
SITE DEVELOPMENT COST 122 11,463.50 1,398,547.00
SITE AMENITY COST 122 2,049.18 250,000.00
GENERAL REQUIREMENTS 7,548,436.00 0.06 452,906.16
OVERHEAD COST 7,548,436.00 0.02 150,968.72
PROFIT 7,548,436.00 0.06 452,906.16
CONTINGENCY 7,548,436.00 0.02 150,968.72
PERFORMANCE & PA YMENT BOND 8,756,185.76 .0.01- 87,561.86
DEVELOPERS OVERHEAD 10,440,055.60 0.04 417,602.22
DEVELOPERS FEE 10,440,055.60 0.12 1,252,806.67
ARCHITECTURAL DESIGN FEES 122 500.00 61,000.00
ARCHITECTURAL INSPECTION FEES 122 100.00 . 12,200.00
ENGINEERING DESIGN FEES 122 851.00 103,822.00
ENGINEERING INSPECTION FEES 122 225.00 27,450.00
BUILDING PERMIT COST 122 810.63 98,896.86
SURVEYS-ASBUIL TS- TESTING 122 200.00 24,400.00
AQUEDUCT FEESlFL KEYS COOP. 122 2,272.50 277,245.00
CONNECTION FEE COST 122 INCL. ABV. INCL. ABOVE
ADVERTISING/ MARKETING 122 286.89 35,000.00
LEGAL COST 122 614.75 75,000.00
A CCOUNTING COST 122 90.16 11,000.00
APPRAISAL AND MARKET STUDY 122 73.77 9,000.00
REAL ESTATE TAXES 122 366.56 44,720.32
SYNDICA TION FEES 122 122.95 15,000.00
INSURANCE-(PROP .IUAB.BLDRS RISK) 122 295.00 35,990.00
ENVIRONMENTAL COST 122 28.69 3,500.00
OPERA TING RESERVE 122 1,110.27 135,452.94
RECORDING FEES 122 40.00 4,880.00
LEASE UP RESERVE 122 555.13 67,725.86
TITLE INSURANCE 122 657.18 80,176.00
LAND COST 122 7,975 973,000.00
TAX CREDIT FEES 122 475.08 57,960.00
OTHER TAX CREDIT FEES 122 93.32 11,385.00
CONSTRUCTION LOAN INTEREST 122 2,752.04 335,749.00
CONSTRUCTION LOAN FEES 122 362.11 44,178.00
PERMANENT LOAN FEES 122 201.45 24,577.00
BANK ENGINEER INSPECTIONS 122 - -
3
HERITAGE ACQUISITION AND DEVELOPMENT
INCOME AND EXPENSE SHEET
PROJECT: Tradewlnd Hammocks
GROSS SQ. FT.:
117,998
PROJECT LOCATION: Kev Largo Monroe County. FL NO. OF UNITS: 122
III ,;:' i.i II! > ;~,"~. .,. i> i.,..> I
.'.'" .ii ii
1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50.00% 17,150 19,600 22,050 24,500 26,450 28,400 30,400 32,350
60.00% 20,580 23,520 26,460 29,400 31,740 34,080 36,480 38,820
30.00% 10,300 11,750 13,250 14,700 15,900 17,050 18,250 19,400
40.00% 13,720 15,680 17,640 19,600 21,160 22,720 24,320 25,880
28.00% 9,604 10,976 12,348 13,720 14,812 15,904 17,024 18,116
UNIT TYPE "10 OF MEDIAN #OF UNITS GROS SQ FT NET SQ FT RENT UTILITIES MKT ADJ NET RENT TOTAL RENT
EFF - 1/1 28.00% 2 735 700 $257.25 37.00 $0.25 $220.00 $440
40.00% 0 735 700 $367.50 37.00 $0.50 $330.00 $0
50.00% 1 735 700 $459.38 37.00 $0.00 $422.38 $422
60.00% 9 735 700 $551.25 37.00' - $0.25 $514.00 $4,626
MKT RATE $0.00 $0.00
211 28.00% 0 0 0 $308.70 45.00 $0.00 $263.70 $0
40.00% 0 0 0 $441.00 45.00 $0.00 $396.00 $0
50.00% 0 .0 0 $551.25 45.00 $0.00 $506.25 $0
60.00% 0 . 0 0 $661.50 45.00 $0.00 $616.50 $0
MKT RATE 0 0 0 $0.00 0.00 $0.00 $0.00 $0
212 28.00% 11 934 890 $308.70 45.00 $0.70 $263.00 $2,893
40.00% 0 934 890 $441.00 45.00 $0.00 $396.00 $0
50.00% 4 934 890 $551.25 45.00 $0.00 $506.25 $2,025
60.00% 57 934 890 $661.50 45.00 $0.50 $616.00 $35,112
MKT RATE 0 934 890 $0.00 0.00 $0.00 $0.00 $0
3/2 28.00% 6 1102 1050 $356.65 57.00 $0.65 $299.00 $1,794
40.00% 0 1102 1050 $509.50 57.00 $0.50 $452.00 $0
50.00% 1 1102 1050 $636.88 57.00 $0.00 $579.88 $580
60.00% 31 1102 1050 $764.25 57.00 $0.25 $707.00 $21,917
MKT RATE 0 1102 1050 $0.00 0.00 $0.00 $0.00 $0
4/2 28.00% 0 0 0 $397.60 67.00 $0.00 $330.60 $0
40.00% 0 0 0 $568.00 67.00 $0.00 $501.00 $0
50.00% 0 0 0 $710.00 67.00 $0.00 $643.00 $0
60.00% 0 0 0 $852.00 67.00 $0.00 $785.00 $0
MKT RATE 0 0 0 $725.00 0.00 $0.00 $725.00 $0
TOTAL UNITS: TOTAL 122 MONTHLY INCOME 69,809
ANNUAL INCOME 837,711
5.00% LESS VACANCY (41,886)
UNIT BREAKDOWN: GROSS INCOME 795,825
$187.50 MISC. INCOME 22,875
NET ANNUAL INCOME 818,700
I MONTHLY I YEARLY
PER UNIT I
6,711 i
TOTAL INCOME
,
68,225 . 818,700 ,
4
1/25/00
,'\ " . . .;u, ..:\ ;S ...... ....:.. \ \\\ ,.,. 1
MONTHLY YEARLY PER UNIT PER SQ FT % T.EXP.
PAYROLL:
PAYROLL 7,343 88,111 722 0.75 19.04% 90 $65,000
PAYROLL TAX & INS. 1,469 17,622 144 0.15 3.81% 20%
TOTAL PAYROLL 8,811 105,733 867 0.90 22.84%
OPERATING:
MAINT. & REPAIR 1,779 21,350 175 0.18 4.61% $175
GROUNDS 1,220 14,640 120 0.12 3.16% $120
POOL 254 3,050 25 0.03 0.66% $25
EXTERMINATING 488 5,856 48 0.05 1.27% $48
ELEVATOR 2,033 24,400 200 0.21 5.27% $200
TOTAL OPERATING 5,775 69,296 568 0.59 14.97%
ADMINISTRATIVE:
MANAGEMENT FEE 3,411 40,935 336 0.35 8. 84'h, 5.00%
OFFICE EQUIP/SUPP. 813 9,760 80 0.08 2.11"10 $80
TELEPHONE 356 4,270 35 0.04 0.92"10 $35
LEGAL & ACCOUNTING 813 9,760 80 0.08 2.11"10 $80
LEASING 508 6,100 50 0.05 1.32"10 $50
HOME OWNERSHIP 1,658 19,896 163 0.17 4.30"10 2.50"10
TOTAL ADMINISTRATIVE 7,560 90,721 744 0.77 19.60"10 2,015
UTILITIES:
ELECTRIC 1,627 19,520 160 0.17 4.22"10 $160
WATER 1,017 12,200 100 0.10 2.64% $100
SEWER 715 8,577 70 0.07 1.85"10 $70
TRASH 2,969 35,624 292 0.30 7.70"10 $292
TOTAL UTILITIES 6,327 75,921 622 0.64 16.40"10
OTHER EXPENSES:
INSURANCE 2,694 32,330 265 0.27 6.99"10 $265 :m~lm&WAI1~
REAL ESTATE TAXES 4,555 54,656 448 0.46 11.81"10 $448 TAXES IHeM Mf@lHMAAt
AUDIT FEE 663 7,950 65 0.07 1.72% $7,950
TERMITE BOND 153 1,830 15 0.02 0.40% $15
COMPLIANCE FEE - - - - O.Oook $0
REPLACEMENT RESERVE 2,033 24,400 200 0.21 5.27'k $200
MISCELLANEOUS - - - - 0.00"10 $0
TOTAL OTHER EXPENSES 10,097 121,166 993 1.03 26.18"10
TOTAL OPERATING EXP.
PRIOR TO DEBT SERVICE 38,570 4ti2,Il;Sf ~f~4 ;S.1l2 100.00% 100.00%
NET OPERATING INCOME I 29,655 355,864 2,917 I
DEBT SERVICE 19,334 232,013 1,902
SECOND DEBT SERVICE 7,625 91,500 750
N.O.I. FOR DISTRIBUTION 2,696 32,351 265 I
5
1/25/00
HERITAGE ACQUISITION AND DEVELOPMENT
SOURCES SHEET
PROJECT: Tradewind Hammocks
PROJECT LOCA TlON: Key Largo, Monroe County, FL
GROSS S 117 ,998
NO. OF UNITS: 122
SOURCES OF FUNDS
FIRST MORTGAGE LTV
LOAN AMOUNT $2,457,655 19.92% 20,144.71
AMORTIZATION 30
INTEREST RATE 8.75%
PRINCIPAL & INTEREST 232,013
DEBT SERVICE COVERAGE 1.5338 0.0944
SECOND MORTGAGE LTV
HOME LOAN $3,050,000 24.73% $25,000.00
AMORTIZATION 30
- -
INTEREST RATE 3.00%
INTEREST ONLY $91,500
DEBT SERVICE COVERAGE 1.10000
SURTAX, GRANTS $1,952,000 15.83% TOTAL CREDITS 4% AND 9%
TAX CRECIT EQUITY: $610,000 9'"
HISTORIC TAX CREDIT EQUITY $0 0.00% - 4%
EQUITY AFTER SYNDICATION $4,875,120 39.52% $610,000 TOTAL
100.00%
ACQ. CREDIT CACULATlON:
TOTAL SOURCES 12,334,775 CONTRACT: -
TOTAL USES: 13,083,464 LAND: -
-
SHORTFALL: 748,689 976,262
TAX CREDIT CALCULATION 9% CREDITS 4% CREDITS
TOTAL COST PER UNIT COST PER S.F.
TOTAL PROJECT COST 11,413,056 93,550 96.72
LESS LAND COST 973,000 7,975 8.25 - SEE ABOVE
LESS PERM LOAN & LEGAL FEES 24,577 201 0.21
LESS SURTAX, GRANTS & HOME 1,952,000 16,000 16.54
LESS OPERATING RESERVE 135,453 1,110 1.15
LESS LEASE UP RESERVE 67,726 555 0.57
LESS SYND COST & COMPL FEES 26,385 216 0.22
LESS ADVERTISING / MARKET 35,000 287 0.30
ELIGIBLE BASIS: 8,198,915 $67,204 $69.48 DEV. FEE ON
DEV. O.H. & PROFIT: 1,670,409 $13,692 $14.16 ACQ. - 5% -
TOTAL ELIGIBLE BASIS: 9,869,324 $80,896 $83.64 921,720 4% CREDIT
AMOUNTS
TIMES % (1.3 OR 1.0) $12,830,121 $105,165 $108.73 130.00% 100.00%
TIME CREDIT % $610,000 $5,000 $5.17 8.46'" 4.00'" -
TOTAL ALLOCATION $6,100,000 $50,000 $51.70 10.00 10.00 -
TIMES % SOLD $6,093,900 $49,950 $51.64 99.90% 99.90% -
NET PROCEEDS $4,875,120 $39,960 $41.32 80.00% 73.00% -
TOTAL NET PROCEEDS: $4,875,120 $39,960 $41.32 39960 $64,960 5,000
6
1/25/00
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HERITAGE ACQUISITION AND DEVELOPMENT
FINANCE SHEET
PROJECT: Tradewind Hammocks
PROJECT LOCA TlON: Key Largo, Monroe County, FL
SOURCE OF FUNDS
PERMENANT LOAN
SECOND MORTAGE LOAN
FIRST EQUITY PAYMENT
GRANTS, CBGF'S, ETC.
SECOND EQUITY PAYMENT
THIRD EQUITY PAYMENT
FINAL EQUITY PAYMENT
TOTAL SOURCE OF FUNDS:
USE OF FUNDS
TOTAL COST
DEVELOPER OVERHEAD
DEVELOPER FEE
TOTAL COST OF PROJECT:
DEFFERED DEVELOPER FEE:
TOTAL USE OF FUNDS:
CONSTRUCTION FUNDS
CONSTRUCTION LOAN
FIRST EQUITY PAYMENT
SECOND EQUITY PAYMENT
GRANTS, CBGF'S, ETC.
TOTAL FUNDS AVAILABLE AT CONST.
DEVELOPER OVERHEAD AT CONST.
AMOUNT
$2,457,655
$3,050,000
$2,437,560
$1,952,000
$1,462,536
$487,512
$487,512
$12,334,775
11,413,056
417,602
1,252,807
13,083,464
748,689
12,334,775
2,945,167
2,437,560
1,462,536
$5,002,000
11,847,263
434,208
COST OF FUNDS
CONSTRUCTION LOAN:
CACULA TION OF INTEREST IN MONTHS
MONTHS OF CONST. LOAN
PERCENT OUTSTANDING
INTEREST RATE
TOTAL CONSTRUCTION INTEREST:
TOTAL CONSTRUCTION FEES:
TOTAL CONST. LOAN COST:
TOTALS
2,945,167
12
24.00
60.00%
9.500%
$335,749
$44,178
$379,927
PERMANENT LOAN:
YEARS
PERCENT OUTSTANDING
INTEREST RATE
PERMANENT LOAN INTEREST:
PERMANENT LOAN FEES:
PERMANENT LEGAL FEES:
TOTAL PERMANENT FEES:
TOTAL PERMANENT LOAN COST:
2,457,655
30
100.00%
8.75%
$232,013
24,577
$24,577
$281,166
GROSS SQ. FT.:
NO. OF UNITS:
TOTAL EQUITY % OF EQUITY
50.00%
30.00%
$4,875,120 10.00%
10.00%
100.00%
FEE RATE 2ND MTG.
1.50%
1.00%
0.00.,(,
8
117,998
122
1/25/00
HERITAGE ACQUISITION AND DEVELOPMENT
TAX CREDIT FEES AND OTHER GENERAL FEES
PROJECT: Tradewind Hammocks
PROJECT LOCA TION: Key Largo, Monroe County, FL
GROSS SQ. FT.:
NO. OF UNffS:
117,998
122
COST CODE II DESCRIPTION " UNIT QUANITY II UNIT COST TOTAL
38.000 TAX CREDIT FEES
31.001 TAX CREDIT FEE 122 400 48,800 8.00%1
38.002 TAX CREDIT APPLICA TION FEE 122 5 660
38.003 TAX CREDIT UNDERWRITING FEE 122 70 8,500
38.004 STATE COMPLIANCE FEE 122 93 11,385
38.006 PLANS REVIEW FEE- AGENCY 122 . -
38.007 SUBSIDY APPLlCA T/ON FEES 122 . - - -
.-
38.008 OTHER SUBMISSION FEES 122 - .
38.009 SAIL COMMffMENT FEE 122 - -
TOTAL TAX CREDIT FEES COST: 69,345
I II
39.000 BOND FEES BOND AMOUNT % COST TOTAl
39.001 SUB-DMSION BOND . 2.00% .
39.002 MAINTENANCE BOND - 1.00% -
39.003 UTILITY PERFORMANCE BOND - 0.75% .
39.004 OTHER BONDS
39.005 PERFORMANCE & PAYMENT BOND
TOTAL BOND FEE COST: -
I I
TOTAL TAX CREDIT AND BOND COST: 69,345
40.000 LOANS & EQUITY - INTEREST & FEES
40.001 CONSTRUCT/ON LOAN INTEREST 122 2,752 335,749
40.002 CONSTRUCTION LOAN FEES 122 362 44,178
40.003 BRIDGE LOAN INTEREST 122 . -
40.004 BRIDGE LOAN FEES 122 . -
40.005 PERMANENT LOAN FEES 122 201 24,5n
40.006 EQUITY FEES 122 - .
40.007 SECOND MORTGAGE INTEREST 122 . -
40.008 SECOND MORTGAGE FEES 122 - -
TOTAL LOAN & EQUITY COST: 3,316 404,503
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Minor Conditional Use Application
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December 1999
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Mr. Ed' Kocotlis, AICP .. .
. nCvel6pmettt ~eview Coordinator
Monroe CoilntJC PI~ing'D~p.artnient
'Suite 4 ni" ' ' , , ' '-:" "
.2798 Ov.erSeasHighway ,~
Marathori;;FL 33050, "
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. K~y'~est,F:L 33040 ' '.
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Phone: 30Q/294-.1S15
Fax: 3osh~2~ 1525
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R~:~Trad~wlp.CisAffordablc:; HOllSiIig, Key. Largo'-.Minof COQditiona.i Use.:'
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The: attached 'IIi~IiO~' .9~nditiopal ~se appli~atiop is for the' deV~I~;fi.lYiit" ~{ 1-22 'units'.of: . ," '.
affOi:dable.-.bousing hi Key Largo. We. are ~qu~st1f1g that this pJt>ject be scheouled, fQr DRe as.
. soon as. 'p~sslbfe, in' order to m~et tge Federal .Tax, Cr~dit Pr9:gram dea4Hrie in,March. . Final . ,
'.C~l,1nty aI?piovalis.req:~~'red ~rio~to t.h~ ~archdea~~~e; .~..', ,,' , " '. "
' . 'Pl~aSe_fe~lfrej;qoc~I' rion,~r :ipl.ifjori haY~ any qu6sti~Ils.Thank y'bu fotyuurtimeand."
"consideration. ,"':' , .., .' , ,-: . ,', ^. '. . .
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. Peter Rosasco '. " .'" .
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. COn'lmis#oner Nora Williams, without attach~Qts
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Table of Contents
Application Form.... ........... .......... .............. ......................................... .i-iv
Project Overview ................................................................................. .1-4
Application History.................................................................................5
Approvals Required..................................................................................6
Zoning Map .....................................:..................................................... 7
Aerial Photo .......................................................................................... 8
Site Photographs ................................................................................. 9-12
Request and Background Information ...................................................... .13-14
Consistency Statements........................ ......... ................................... ....15-27
Construction Management Plan .............................................................. .28- 30
Appendices
DRC Development Order dated April 27, 1998 .......................................... ......A
April 22, 1998 Letter from Ralph Gouldy to Tuttle ........ .......... ......... ............ ......B
June 16, 1998 Letter from Planning Director to Rosasco.................................... ...C
August 5, 1999 Letter of Understanding...... ...... ..............................................D
November 2, 1999 Memo from Sandra Lee to Susan Sprunt ............................. ....E
December 3, 1999 Letter from Don Craig to Ralph Gouldy. .. ... .. . . .. . . . . .. . . . .. . . .. . . . . . .. ..F
Proof of Ownership..................................................................................G
Traffic Report .'.......................................................................................H
Vegetation Survey for Lots 1-14, Block 4....... ..... ...... ......... ........... ............. .....1
HEI for Lots 3,4,5,8 and 9 of Block 4.............................................................J
HEI for Tract E................................................................................... ....K
HEI for 1.2 acre portion of Tract E... ............ .............. .............. ..... ......... ... ....L
List of Property Owners ...........................................................................M
Letters of Coordination - Sample and Responses as of submittal date...................... ..N
The Heritage Companies Resume. " .. . . . ... . '" .. . . . . .... . . . .. . . . '" . . . .. . . . . . .. . . . " . . . . . . . . . ...0 Site Plans, Floor Plans and Elevations, Landscape Plans, Drainage Plan and Surveys......P
Tradewinds Affordable Housing
T~~~
MONROE COUNTY PLANNING DEPARTMENT
APPLICATION FOR DEVELOPMENT APPROVAL
Application Fee: Major Conditional Use $3,850 Minor Conditional Use $3,025
ALL APPLICA nONS MUST BE DEEMED COMPLETE AND IN COMPLIANCE WITH
THE MONROE COUNTY CODE BY THE PLANNING STAFF PRIOR TO THE ITEM
BEING SCHEDULED (SEE PAGE FOUR).
1)
Applicant Name:
The Heritage Companies and MRT ()fthe Florida Keys
Mailing Address:
P.O. Box 1441
Cape Canaveral, FL 32920
Phone Number:
(407) 799-4090
2) Agent Nameffitle: Donald L. Craig, AICP; Elizabeth Johannsen
Mailing Address:
The Craig Company
P.O. Box 372
Key West, FL 33041
Phone Number:
(305) 294-1515
3) Property Owner(s): The Heritage Companies and MRT of the Florida Keys
Mailing Address:
P.O. Box 1441, Cape Canaveral, FL 32920
Phone Number:
(407) 799-4090
4) Legal Description of Property:
Street Address: Sansom Road. Key Largo. FL
Lot(s): Lots 1 through 14, inclusive, Block 4, Industrial Acres; and Tract "E" Trade
Winds, Key Largo, Monroe County, Florida
Key: Key Largo
Mile Marker: 101.5
C&C Forms !Development App
Real Estate (RE) Nwnber(s): 00455550, 00455560, 00455570, 00455580,
00455590,00455600,00455610,00455620,00455630,00455640,00455650,
00455660,00455670,00455680;454611-0005,454611-0006,454611-0007,
454611-0008,454611-0009,454611-001,454611-0011
5) Land Use District(s): Urban Residential (UR)
6) Present use of the property: Undeveloped
7) Proposed use of the property: 122 Affordable Housing Units
8) Gross floor area in square feet (Non-residential Uses): Not applicable
9) Nwnber of residential units to be built: None
10) Nwnber of affordable or employee housing units to be built: 122
11) Nwnber of hotel/motel, recreational vehicle, institutional residential or
campground units to be built per type: None
12) Has an application been submitted for this site within the past two years? No
I certify that I am familiar with the information contained in this application, and that to
the best of my knowledge such information is true, complete and accurate.
/2- /2-Jf/?'
, ,
Date
Sworn before me this c51T'L. day of
~.
199 '1
A.D.
!o.,.,.V Pq~ JOANN KUBeS
~..~ . y, COMMISSION" CC 707394
~ ~~ EXPIRES JAN 28, 2002
~ r$". BONDED THRU
OF f'" ATlANTIC BONDING CO., INC.
C&C Fonns /Development App
ATTACHMENT A
The following is a list of required documents for conditional use approval. To determine whether an item
is appropriate to a particular application, please contact the planner and biologist reviewing your
application.
X PROOF OF OWNERSHIP: deed, lease, or pending sale contract
X LOCATION MAP showing where the project is located on the key. This enables people to easily
fmd the project.
~ PHOTOGRAPHS of site from the main adjacent road. A recent aerial photograph with property
boundaries delineated may be substituted.
X SEALED AND SIGNED SURVEY by a Florida registered surveyor. The survey should include
elevations and location of all existing structures, paved areas, location of all utility structures,
bodies of water, docks, piers mean high water line, acreage by Land Use District and acreage by
habitat.
-X-. VEGETATION SURVEYor Habitat Evaluation Index, if applicable, prepared by a biologist
qualified by the Monroe County Environmental Resources Department.
NA ENVIRONMENTAL DESIGNATION SURVEY and COMMUNITY IMPACT STATEMENT
(Major Conditional Uses only).
X SITE PLAN prepared by a Florida registered architect, engineer, or landscape architect at a standard
engineering scale as appropriate for the size and shape of the project. INCLUDING BUT NOT
LIMITED TO:
_ Property lines and mean high-water shoreline and outside dimensions of the entire parcel;
_ All areas and dimensions of existing and proposed structures;
_ Adjacent roadways and uses of adjacent property;
_ Setbacks as required by the Land Development Regulations;
_ Parking (including handicap parking) and loading zone locations and dimensions;
_ Calculations for open space ratios, floor area ratios, density, and parking;
_ Outdoor lighting location, type, power, and height;
_ Extent and area of wetlands, open space areas, and landscape areas;
_ Location of solid waste separation, storage, and removal;
_ Type of ground co\\er such as asphalt, grass, pea rock;
_ Sewage treatment facilities:
_ Existing and proposed fIre hydrants or fire wells;
_ Location of bike racks (if required);
_ Flood zones pursuant to the Flood Insurance Rate Map (FIRM);
_ Adjacent Land Use Districts.
X FLOOR PLANS at an appropriate standard architectural scale including handicap accessibility
features;
X LANDSCAPE PLANS at the same scale as the site plan. May be on a separate plan or shown on
the site plan. INCLUDING BUT NOT LIMITED TO:
__ Building footprints, driveways, parking areas, and other structures;
_ Open space preservation areas;
_ Size and type of buffer yards including the species, size, and number of plants;
_ Parking lot landscaping including the species, size, and number of plants.
_ Existing natural features;
_ Specimen trees, or threatened and endangered plants to be retained and those to be relocated
or replaced;
_ Transplantation plan (if required).
X CONCEPTUAL DRAINAGE PLAN with drainage calculations prepared by a registered engineer at
the same scale as the site plan: The plan must show existing and proposed topography, all
drainage structures, retention areas and drainage swales, and existing and proposed permeable and
impermeable areas.
C&C Forms IDevelopment App
X ELEVATION DRAWINGS of all proposed structures with the elevations of the following features
referenced to NGVD: Existing grade, fmished grade, fmished floor elevations (lowest supporting
beam for V-zone development), roofline and highest point of the structure.
X TRAFFIC STUDY prepared by a licensed traffic engineer.
X CONSTRUCTION MANAGEMENT PLAN (State how impacts on near-shore water and
surrounding property will be managed - i.e. construction barrier, hay bales, flagging, etc.).
X CONSTRUCTION PHASING PLAN.
X A TYPEWRITfEN LIST of the names and addresses of all Property OwneTs within 300 feet from
the borders of the project. Indicate lot, block, subdivision name and the Real Estate numbers fir
each address. Compile this list from the tax rolls located in the Property Appraiser's Office.
All Ap{JIications require sixteen (6) copies of all blueprints.
X LETfERS OF COORDINATION MAYBE REQUIRED FOR YOUR PROJECT. The
application must check with the Planning Department to identify other agencies expected to review
the project. These may include:
_ Florida Keys Aqueduct Authority (FKAA)
_ Florida Department of Health and Rehabilitative Services (HRS)
_ Florida Keys Electric Cooperative (FKEC)/City Electric System (CES)
_ Monroe County Fire Marshall
_ South Florida Water Management District (SFWMD)
_ Florida Department of Environmental Protection (FDEP)
_ Florida Department of State, Division of Historic Resources
_ Florida Game and Freshwater Fish Commission (FGFFC)
_ U.S. Army Corps of Engineers (ACOE)
_ U.S. Fish and Wildlife Service (USFW)
__ Monroe County Recycling Department
_ Florida Department of Transportation (FDOn
C&C Forms /Development App
Project Overview
The proposed project is a 122-unit multi family affordable housing project to be located in Key
Largo. The project has been in the planning phase for nearly one year and designed to be
completed for occupancy in the faIl of 2001, assuming all approvals are received in timely
fashion and the tax credit financing is provided.
Project Location
The project site is 11.55 acres consisting of four separate parcels and groups of lots. They are:
1. Lots 1-14, Block 4, Industrial Acres, Key Largo, approximately 3.53 acres
2. A part of Tract E Trade Winds subdivision, approximately 5.11 acres
3. A part of Tract E Trade Winds subdivision, approximately 1.2 acres
4. Troup Road and half of Buttonwood Lane, approximately 1.71 acres
Also included in the project design are portions 'of Buttonwood Lane and Troupe Road which are
to be abandoned in order to provide sufficient area for the development of the housing units and
to provide necessary internal access and egress from the site. These acreages do not include the
wetland areas to the east of the development sites.
The site is located at approximately mile marker 101.5 immediately adjacent to the Tradewinds
Shopping Center. The Tract E parcels are located to the east of the shopping center and lots 1-14
are to the south of the shopping center. The land uses surrounding the site include a residential
subdivision along Hibiscus Lane, which shares a boundary with lots 1-14 and contains single
family homes, many of which house families long resident in the Keys. Also adjacent to lots 1-
14 is the recently created "Friendship" County Park, which fronts Highway 1. To the east of the
Tract E portion is a Recreational Vehicle Park named Key Largo Kampground and Marina.
To the north of Samson Road, from which this project obtains its main access, is a residential
subdivision of single family homes.
Immediately adjacent to the site is the large shopping center that serves many homes in the
Upper Keys. The shopping center also contains the Upper Keys County Branch Library, as well
as medical and professional offices. Immediately across US Highway 1, which has four lanes at
this point, is a mixture of single family and light commercial land uses.
Tradewinds Affordable Housing
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Page I of 30
Project Need
In a time of sustained economic growth, the entire Florida Keys is experiencing a crisis in the
provision of affordable housing. The combination of a strong economy, high demand for housing
which elevates the price of the existing housing stock, and a decline in the number of housing
building permits allowed by the state all combine to create a demand for affordable housing. The
County's efforts to provide housing have been hampered by a number of factors, not the least of
which is the local government's lack of experience with the direct construction of affordable
units, and other legal disincentives to the provision of affordable housing in the Florida Keys.
While some of these impediments have recently been addressed by the County and its Affordable
Housing Task Force, the private sector is the only viable source of constructing housing using a
variety of government subsidies.
In the Upper Keys, there is a need for both rental and for sale affordable housing. The latter is
and will continue to be difficult to provide in sufficient numbers to house the demand from
people who are either living in substandard units, in over crowded units, or in units which require
low-income people to pay much more than the 30% of gross income recommended. This results
from the high cost of land, the lack of clusters of available upland lots, and the lengthy process
for obtaining each individual permit.
The tourist based economy of the Florida Keys, including the Upper Keys and Key Largo,
together with the demand for service sector jobs to respond to the needs of the permanent and
seasonal population has created a need for rental housing. The rental housing market in the Keys
serves a variety of low to moderate income people, including single workers, retirees, young
couples just starting families and families of whatever age at or near the poverty line.
Please refer to the final report of the County's Blue Ribbon Mfordable Housing Task Force for
detail on the specifics of housing demand in the County. This body of work also refers to the
evidence compiled by the previous task force appointed by state Senator Daryl Jones and state
representative Ken Sorenson.
Project Partners
The applicants for this project are a partnership of MRT of the Florida Keys, L.L.C and The
Heritage Companies of Cape Canaveral. Both firms have been involved in affordable housing
projects in the Florida Keys. The principals of MRT all live and work in the Keys. Heritage has
developed affordable housing projects in 14 states and continues to provide management for
many of the same projects. The Heritage Companies specialize in developing housing projects,
which use Federal Income Tax credits provided to the States. The State of Florida, like many of
Tradewinds Affordable Housing
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Page 2 of 30
the other state programs, allocates them in a competition among housing developers. The tax
credits are "sold" to wealthy individuals and companies wishing to reduce their tax liabilities.
The money provided by the tax credits is used to construct the housing project.
In addition to the principal partners, Monroe County Government will become a participating
entity and "partner" in two very important ways. First, the Monroe County Land Authority,
through its advisory board has been asked to participate by purchasing the entire property on
which the project will be constructed. The advisory board has indicated a willingness to
cooperate in the venture subject to assurances that the project will continue to meet the
affordability criteria established by the Federal tax credit program in perpetuity, and subject to
full Authority approval.
In addition, Monroe County Government will be asked to allocate 82 Rate of Growth Ordinance
(ROGO) exemptions from the 90 to be granted to the County in the year 2000 for this project.
The County will receive the 90 ROGO exemptions specifically for affordable housing. The
project needs only 82 because the proposed project includes 40 units from a previously approved
project on Tract "E" for which the developer, also MRT, already has ROGO allocations. The
County will also provide cesspit credits for the project from its reservoir of credits reserved for
affordable housing.
Project Components
The project consists of 122 units of housing in four buildings. Four buildings are proposed for
several reasons. First, the county land development regulations require high open space ratios for
areas containing tropical hammock vegetation which occurs on parts of the site. Second, the
setbacks and limitation of building height to 35 feet combine to reduce the buildable area and
force a compact site design. Third, maintaining affordability requires the use of common walls.
Regardless of these factors, the units proposed all have individual entrances. None are located
on interior corridors. All units have access to elevators and some parking is provided below parts
of the building for protection in inclement weather.
Unit Mix and Type
The project will provide the following mixture of units. The rental range depends on
household income level and does not include utilities:
Unit T e
One Bedroom
Two Bedroom
Three Bedroom
Number of Units
12 (10% of total)
72 (59% of total)
38 (31 % of total)
Unit Size
874 s . ft.
1102 s . ft.
1242 s . ft.
Rental Ran e
220-514
263-616
298-707
Tradewinds Affordable Housing
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Page 3 of 30
Amenities
The project will have the following amenities, many of which are not only reasonable for
a project of this size and scope, but many are also required to score the maximum number
of points in the tax credit competition.
· club house, meeting rooms and offices - 3000 sq. ft.
· pool - 30 x 50 ft.
· basketball court
· play ground
· picnic shelter
· automobile care area
· automobile parking at the ratio of two spaces per unit
· extensive open space(64% of the entire site, and 56% of the uplands)
· separate courtyard for outdoor sitting
Open Space
The open space on site meets the re~uirements for the ratios required in the Land
Development Regulations. There is a 50-foot setback from all wetlands, with the
exception of the road which connects Tract "En and lots 1-14. The narrow size of the land
between the shopping center property and the wetlands forces this standard width road to
be set back twenty feet in this location. The planning director has the ability to waive the
setback via the minor conditional use process. There are significant groupings of mature
native trees on the site. The units and amenities we specifically sited to avoid as many of
these trees as was possible and still maintain emergency access to all units from both
sides of the buildings. Any native trees that are to be removed will be replaced. The 1.2
acre tract will largely remain unused and serve as large buffer between the RV Park to the
east and this project.
The open space provided on site is equivalent to 56% of the site if only upland areas are
counted, and 64% if wetlands are included.
Tradewinds Mfordable Housing
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Page 4 of 30
Application History
The project planning was initiated in the spring of 1999 and a pre-application conference was
held on July 21, 1999. The County issued a Letter of Understanding on August 5,1999, a copy
of which appears in the appendices to this application. Based upon the Letter of Understanding
and vegetation analyses and habitat evaluations of the hardwood hammocks completed by Susan
Sprunt of Environmental Consulting Services, the County biologist issued a memorandum
identifying the open space ratios on lots 1-14. The project was designed based upon the County's
Letter of Understanding and Sandra Lee's memo. On December 3, 1999 Donald Craig wrote to
Ralph Gouldy, Director of Environmental Resources requesting a clarification of the ability to
use a 40% open space ratio over the entirety of the lots 1-14. Based upon conversations with Mr.
Gouldy, the project was further refined and the density reduced from the 128 units originally
sought to the 122 presented in this plan.
It should be noted that the project relies upon 40 units of development density previously
conferred by the County to Tract "E" via Development Order 4-98 to MRT. This development
order is found in the appendices to this application. The 40-unit project is now fully incorporated
in to this application. However, if the County fails to approve the larger project, the applicant,
MRT reserves the right to proceed with the project as approved previously.
Tradewinds Affordable Housing
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Page 5 of 30
Approvals Required
The completion of this project will require approvals from the County as well as the State of
Florida. The approvals required from the County prior to being able to apply for the tax credit
financing are:
· Minor Conditional Use Approval
· Road abandonment Approval
· Reservation of 82 RaGa exemptions for the units added to the 40 units already
approved.
The latter is required in order to create the density to make the project financially feasible. Both
approvals should be complete by the beginning of March 2000 in order to meet the tax credit
application deadline.
As part of the Minor conditional use process the Planning Director is being asked to reduce the
50-foot setback from a small portion of the wetlands in order to accommodate the road
connecting the two parts of the project.
In order to obtain the building permit, the County will require proof of state permit for the
sewage treatment plant, and drainage plan approval from the South Florida Regional Water
Management District.
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Page 6 of 30
Zoning Map
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Tradewinds Affordable Housing
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Page 7 of 30
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Tradewinds Affordable H .
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Page 8 of 30
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Tradewinds Affordable Housing
T~~~
Page 10 of30
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Tradewinds Affordable Housing
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Page 12 of30
Request and Background Information
REQUEST:
1. Applicant:
The applicant is The Heritage Companies and MRT of the Florida Keys. Donald L. Craig,
AICP, of The Craig Company is the agent representing The Heritage Companies and MRT of
the Florida Keys.
2. Proposed use & size:
The Heritage Companies and MRT of the Florida Keys propose to build 122 units of
affordable housing. The units will be housed in 4 buildings. Of the 122 units, 38 will be
three bedroom units, 72 will be two bedroom and 12 will be one bedroom. The development
will also include a 3,000 square-foot clubhouse, a swimming pool, a basketball court, a
playground and picnic area.
3. Location:
The property is located on Lots 1 through 14, inclusive, Block 4, Industrial Acres; and Tract
"E" Trade Winds, Key Largo, Monroe County, Florida. The property is located at
approximately mile marker 101.5 and the RE numbers are 00455550, 00455560, 00455570,
00455580, 00455590, 00455600, 00455610, 00455620, 00455630, 00455640, 00455650,
00455660,00455670, 00455680; 454611-0005, 454611-0006, 454611-0007, 454611-0008,
454611-0009,454611-001,454611-0011.
4. Plans Provided:
Field Surveys prepared by David S. Massey, Professional Land Surveyor on February 4,
1999 and January 22, 1997.
Site plan, elevation drawings, and floor plans prepared by Bender & Associates Architects
on, December 17,1999.
Landscape plan prepared by The Craig Company on December 22,1999.
Drainage plans prepared by Allen Perez, PDE Engineering on December 27, 1999.
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Page 13 of 30
BACKGROUND INFORMATION:
1. Land Use District:
Urban Residential (UR) and Native Area (NA)
2. Future Land Use Map Designation:
Residential High (RH) and Residential Conservation (RC)
2. Size of Site:
The total acreage of the site is approximately 11.55 acres. Part of Tract E is 1.2 acres and the
remaining part of Tract E is 5.11 acres (222,591.6 square feet). Lots 1-14 total 3.53 acres
(153,657 square feet). Troupe Road and Buttonwood Lane comprise the remainder of the
site at 1.71 acres.
3. Existing Vegetation:
This site contains the following habitats: disturbed, disturbed with hammock, low and
moderate-quality high hammock, moderate and high-quality low hammock, saltmarsh
buttonwood, and mangroves. The delineation between high hammock and low hammock is
marked by the five-foot elevation line. Significant trees are mapped on the HEls and
vegetation surveys for this site. A detailed list of vegetation is provided in the HEls and
vegetation surveys, attached in the appendix section of this application.
4. Community Character of the Immediate Vicinity:
The community character of the immediate area can be best described as mixed, and includes
undeveloped land, single-family homes, a campground and marina, and a shopping center.
The properties immediately adjacent to this site are as follows: undeveloped tropical
hardwood hammock on the north side of Samson Road, an R V park (Key Largo
Kampground and Marina) to the east, single family homes and undeveloped land to the
south; and the Tradewinds Shopping Center to the west and north. The site is adjacent to the
Tradewinds Shopping Center and Friendship Park.
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Page 14 of30
Consistency Statements
Standards Applicable to All Conditional Uses:
The proposed Tradewinds Affordable Housing is required to be consistent with all applicable
portions of the Land Development Regulations and the Comprehensive Plan. These regulations
require all minor conditional uses to be consistent with Sections 9.5-65 and 9.5-68. The
following narrative and references to the attached site plans or illustrations indicate how the
proposed development meets these requirements.
Section 9.5-65(a)
"The conditional use is consistent with the purposes, goals, objective and standards of the
plan and this chapter."
1. Compliance with Chapter 9.5, Monroe County Land Development Regulations:
a. PUl:pose of the Urban Residential (UR) and Native Area (NA) Land Use Districts.
Sections 9.5-201. 204 and 210
Section 9.5-201 of the Monroe County Code states that "All development within each
land use district shall be consistent with the purposes stated for that land use district. "
Section 9.5-204 states that the purpose of the Urban Residential land use district is "to
provide areas appropriate for high-intensity residential uses designed and intended for
occupancy by persons gainfully employed in the Florida Keys. "
Section 9.5-210 states that the purpose of the Native Area land use district is "to establish
areas that are undisturbed with the exception of existing solid waste facilities, and
because their sensitive environmental character should be preserved in their natural
state. "
Applicant's Response: The proposed development is 122 units of affordable housing.
The development is high-intensity residential use and will provide housing for people
employed in the Florida Keys. The housing units will be located in the UR land use
district; the NA portion of the property will remain undeveloped. The proposed
affordable housing is consistent with Sections 9.5-201, 204 and 210.
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b. Permitted Uses. Section 9.5-233(b)(1)
Attached residential dwelling units are permitted as minor conditional uses provided
that: (a) sufficient common areas for recreation are provided to serve the number of
dwelling units proposed to be developed; (b) all entryways are designed and lighted to
allow safe and secure access to all structures from walks and parking areas; and (c)
access to U.S. 1 is by way of(i) an existing curb cut, (ii) a signalized intersection, or (iii)
4 curb cut that is separated from any other curb cut on the same side of U.S. 1 by at least
four hundred (400) feet.
Applicant's Response: Common areas for recreational use include the proposed club
house, swimming pool, basketball court, play ground and picnic area. In addition, the
site is located adjacent to Friendship Park. The development will contain lighting such
that all entryways are designed and lighted to allow safe and secure access to all
structures from walks and parking areas. Access to the site will be from Samson Road,
Buttonwood Lane and Tradewinds Shopping Center, all of which have existing access
onto U.S. 1. The proposed development is consistent with Section 9.5-141.
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c. Density/Intensity. Section 9.5- 266
Affordable housing units may be developed on parcels of land classified as Urban
Residential (UR) at an intensity up to a maximum net density of twenty-five dwelling units
per acre without regard to the transferable development rights (TDR) requirements
which may be imposed by these regulations.
Applicant's Response: The chart below shows the density allowed for each part of the
site. A total of 123 units are allowed for the entire site; therefore, the proposed 122-unit
development is consistent with Section 9.5-266.
Size OSR Buildable Area Max Net Units
1.2 acre section (of E) 1.2 60% 0.72 25 12
Tract E (-1.2 ac.) 5.11 40 (per D.O.)
All of Troupe Road 1.34 40% 0.8 25 20
Half of Buttonwood 0.37 40% 0.22 25 5.5
Subtotal 8.02 77.5
Lots 1-14:
Moderate quality 0.52 60% 0.21 25 5.25
Low quality 0.22 40% 0.13 25 3.25
Disturbed Hammock 1.04 40% 0.62 25 15.5
Disturbed 1.07 20% 0.86 25 21.5
Mangrove 0.68 100% 0 0 0
Total Lots 1-14 3.53 45.5
TOTAL 11.55 123
d. Open Space and Environmental Criteria. Section 9.5-343 (Comp Policy 205.2.6)
The purpose of this section is to provide for open space to ensure the continued existence
of natural wildlife habitat and to provide open green areas for the movement, aesthetics,
and safety of the human population utilizing the development. No land shall be
developed, used or occupied such that the amount of open space on the parcel proposed
for development is less that the open space ratios listed for each habitat.
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Applicant's Response:
Tract E contains the following habitat types: disturbed, medium quality high and low
hammock, high quality low hammock, saltmarsh buttonwood, and mangrove. The open
space provided for this section is 65% excluding wetlands, and 71 % including wetlands.
Lots 1-14 contain the following habitat types: disturbed, medium quality high and low
hammock, saltmarsh buttonwood, and mangrove. The open space provided is 45%
excluding wetlands, and 56% including wetlands.
The overall open space provided for the entire site is 64%. The proposed development is
consistent with Section 9.5-343.
e. Minimum Yards and Shoreline Setback. Section 9.5-281 and 9.5-286
The minimum yard requirements for attached residential in the Urban Residential district
are as follows: a front yard setback of15 feet, a rear yard setback of 10 feet, and side
yard setbacks such that one side yard must be 10 feet and the combined total of both side
yards is 15 feet. All development shall be set back fifty (50) feet from unaltered
shorelines.
Applicant's Response: The proposed buildings meets the minimum yard requirements as
shown on the attached site plan. The proposed development is consistent with Sections
9.5-281 and 9.5-286.
f. Height. Section 9.5-283
No structure or building shall be developed that exceeds a maximum height of thirty-five
feet.
Applicant's Response: The elevation at the crown of Samson Road is 6.5 feet. The height
of all proposed building is 35', and therefore is consistent with Section 9.5-283.
g. Scenic Corridors and Bufferyards. Section 9.5-375-381 (Street Trees 9.5-366)
Section 9.5-376(b). All other development of land, which fronts on U.S. 1, 905 or 904,
shall provide a major street buffer in accordance with section 9.5-378. All street fronts
not required to provide a scenic corridor or bufferyards in accordance with sections 9.5-
362-364. District boundary bufferyards are required.
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Pursuant to Section 9.5-377 the following bufferyards are required. On lots 4-14 of
Industrial Acres a Class C bufferyard, at least 10 feet wide, is required along the UR to
UC (Urban Commercial) north property line. The UR to URM (Urban Residential
Mobile Home) land use district zoning change along the south property line requires a
Class C bufferyard at least 10 feet wide. The UR to NA zoning change along the property
line between lots 3 and 4 requires a Class A bufferyard at le.ast 5 feet wide. The UR to
SC (Suburban Commercial) zoning change along the west property line requires a Class
C bufferyard at least 10feet wide.
The Tract E portion of this project will require a Class C bufferyard, at least 10 feet
wide, along the UR to UC district zoning change on the west property line. The portion
of the east property line that abuts RV zoning will require a Class D bufferyard at least
20 feet wide.
Sunset Road requires a total of four (4) native canopy street trees, at 1 per 100 feet of
road frontage.
Applicant's Response: Bufferyards are provided as required, and are indicated on the
attached site and landscape plans. In most cases, however, the native plants will remain
in place so as to cause the least disturbance possible to the site. All exotic plants will be
removed and native plants will be put in place as needed. The proposed development is
consistent with Section 9.5-375-381.
h. Parking and Loading Standards. Section 9.5-351-354
The parking requirements for multifamily are 1.5 spaces per unit. The total number of
units is 122; therefore 183 spaces are required. Four (4) handicap spaces are required
per 101 parking spaces, plus one (1) additional handicap space for every 50 spaces over
100. No loading spaces are required for residential uses.
Applicant's Response: A total of 251 parking spaces are provided, including 8 handicap
spaces. The 244 spaces provides 2.0 parking spaces for each unit, plus 7 additional
spaces provided adjacent to the clubhouse and pool area. All handicap spaces will have
signs which state the fine imposed for illegal parking.
1. Parking Lot Landscaping. Section 9.5-361-362
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All off-street parking areas containing more than six (6) spaces shall be landscaped in
accordance with the standards set out in section 9.5-362. Urban Residential land use
districts require a Landscape Standard "C", which includes 430 square feet of planting
area including 2 canopy trees and 5 shrubs per 24 parking spaces.
Applicant's Response: The required parking lot landscaping fpr 251 spaces is as follows:
4,498 square feet of planting area, 22 canopy trees and 54 shrubs. Landscaping is
provided as shown on the attached Landscape Plan. The proposed development is
consistent with Section 9.5-361-362.
J. Surface Water Management. Section 9.5-293
Applicant's Response: All surface water will managed on site as shown in the attached
drainage plan, which is consistent with Section 9.5-293.
k. Wastewater Treatment Criteria. Section ~.5-294
Applicant's Response: All wastewater will be treated via a new sewage treatment plant
for this site located in the northeastern comer adjacent to Samson Road, and is consistent
with Section 9.5-294.
1. Flood Plain Management Criteria. Section 9.5-317
New construction or cumulative substantial improvements of any commercial, industrial
or non-residential structures within zones Al-30, AE and AH on the community's flood
insurance rating map (FIRM) shall have the lowest floor elevated to or above the base
flood level.
Applicant's Response: The property is located in flood zone "AE" with an elevation of
eight (8) feet (FIRM panel #1006 G). The proposed elevations are shown on the attached
drawings and are consistent with Section 9.5-317.
m. Environmental Performance Standard. Section 9.5-335
Applicant's Response: Habitat Evaluation Indices (HEI) were completed for all of Tract E
and Lots 3,4,5,8 and 9 of Industrial Acres as required by County Biologist Sandra Lee.
A Vegetation Survey was completed for Lots 1-14 of Industrial Acres. These analyses
were completed by Susan Sprunt of Environmental Consulting Systems and are contained
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in the appendix section of this application. The proposed development is consistent with
Section 9.5-335.
n. Transplantation Plan. Section 9.5-344
Applicant's Response: Transplantation plans are provided in the Habitat Evaluation
Indices completed by Susan Sprunt.
o. Energy and Conservation Standards. Section 9.5-326
Applicant's Response: The proposed development provide for energy conservation in the
following ways: (1) provision of bicycle racks, (2) installation of native plants that reduce
requirements for water and maintenance, and (3) provision for structural shading using
roof overhangs. The proposed development is consistent with Section 9.5-326.
p. Outdoor Lighting. Section 9.5-391-393 .
All outdoor lighting shall be designed, located and mounted at heights no greater than:
(a) eighteen feet above grade for non-cutoff lights and (b) thirty-five feet above grade for
cutoff lights. All outdoor lighting shall be designed and located such that the maximum
illumination measured in footcandles at the property line shall not exceed 0.3 footcandle
for non-cutoff lights and 1.5 footcandles for cutoff lights.
Applicant's Response: All site lighting will be designed so as not to exceed the
requirements of this section.
q. Access Standards. Section 9.5-421
No structure or land shall be developed, used or occupied unless direct access to US 1 or
County Road 905 is by way of a curb cut that is spaces at least four hundred (400) feet
from any other curb cut that meets the access standards of the Florida Department of
Transportation or an existing street on the same side of US 1 or County Road 905.
Applicant's Response: Access to the proposed affordable housing development is from
three locations: Sansom Road, Buttonwood Land and Tradewinds Shopping Center, all of
which have existing access onto US 1. The proposed development is consistent with
Section 9.5-141.
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r. Traffic Study. Section 9.5-426
Any development generating more than 500 trips per day shall submit a report from a
licensed traffic engineer indicated that the configuration of the access to US 1 or County
Road 905 will maintain a safe traffic flow, or provide a design for a new configuration to
be constructed by the developer. In addition, the development shall conduct a sturdy of
traffic flows within one (1) mile of their access to US 1 or County Road 905. The study
shall make recommendations regarding improvements required to maintain an annual
average level of service D within six (6) miles.
Applicant's Response: A Level 3 Traffic Impact Report has been completed by Miller
Consulting and is included in the appendix section of this application. The proposed
development is consistent with Section 9.5-426.
s. Clear Site Triangles. Section 9.5-427
All entrance drives and street intersections shall provide clear site triangles in both
directions as indicated in this section.
Applicant's Response: Clear site triangles are shown on the attached site plan, which are
consistent with Section 9.5-427.
t. Handicap Accessibility. Chapter 533. F.S.
Applicant's Response: All buildings are handicap accessible via elevators. The club
house is accessible by a ramp.
2. Consistency with the Goals, Objectives and Policies of the Year 2010 Comprehensive
Plan:
The proposed development is consistent with the goals, objectives and policies set forth
in Chapter 3 of the Comprehensive Plan. The following objectives and policies apply to
the proposed development.
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3.1 Future Land Use
Objective 101.4
Monroe County shall regulate future development to maintain the character of the
community and to protect the natural resources by providing for the compatible
distribution of land uses consistent with the designations shown on the Future Land Use
Map.
Applicant's Response: The community character of the area is best described as mixed,
and includes undeveloped land, single-family homes, a campground and marina, and a
shopping center. The proposed development will provide affordable housing adjacent to
the Tradewinds Shopping Center and Friendship Park. Natural resources on site will be
protected due to the fact that the native area zoned portion of the property which contains
wetlands and federally protected mangroves will remain undeveloped. All invasive
exotic species will be replaced with native plants, and any native plants removed during
construction will be replaced as required. The proposed development is consistent with
the Comprehensive Plan.
Policy 101.4.5
The principal purpose of the Residential High land use category is to provide for high
density single-family, multi-family, and institutional residential development, including
homes and manufactured housing, located near employment centers.
Applicant's Response: The proposed development is consistent with the Comprehensive
Plan because it will provide high density multi-family residential development that is
located near employment centers. The proposed development is adjacent to the
Tradewinds Shopping Center.
Objective 101.9
Monroe County shall provide for drainage and stormwater management so as to protect
real and personal property and to protect and improve water quality.
Applicant's Response: The proposed development is consistent with the Comprehensive
Plan as shown on the attached drainage and stormwater management plan, so as to
protect water quality.
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3.3 Traffic Circulation
Goal 301
To provide a safe, convenient, efficient, and environmentally-compatible motorized and
non-motorized transportation system for the movement of people and goods in Monroe
County.
Applicant's Response: Access to the site will be from three locations: Samson Road,
Buttonwood Lane, and Tradewinds Shopping Center, all of which have existing access
onto US Highway 1. The location of the housing adjacent to the Shopping Center and
Friendship Park will help to reduce the number of vehicle trips.
3.6 Housing
Goal 601
Monroe County shall adopt programs and policies to facilitate access by all current and
future residents to adequate and affordable housing that is safe, decent, and structurally
sound, and that meets the needs of the population based on type, tenure characteristics,
unit size and individual preferences.
Applicant's Response: The proposed affordable housing units will provide needed
affordable housing, in a mixture of one, two and three-bedroom units that meet the needs
of low and very-low income individuals and families in Monroe County.
3.7 Potable Water
Goal 701
Monroe County shall support FKAA in the fulfillment of their statutory obligation and
authority to provide for a safe, high quality and adequate supply, treatment, distribution,
and conservation of potable water to meet the needs of present and future residents.
Applicant's Response: The Florida Keys Aqueduct Authority's existing consumptive use
permit authorizes the withdrawal of sufficient quantities to meet the demand anticipated
for 1999.
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3.8 Solid Waste
Goal 801
Monroe County shall provide for the adequate collection, disposal and resource recovery
of solid waste in an environmentally sound and economically feasible manner to meet the
needs of present and future County residents.
Applicant's Response: The existing solid waste haul-out contract provides the county
with approximately eight years of guaranteed capacity.
3.9 Sanitary Sewer
Goal 901
Monroe County shall provide for the adequate, economically sound collection, treatment,
and disposal of sewage which meets the needs of the present and future residents while
ensuring the protection of public health, and the maintenance and protection of ground,
nearshore, and offshore water quality.
Applicant's Response: A new sewage treatment plan for this site will provide proper
sewage disposal to ensure the protection of public health and the environment.
3.10 Drainage
Goal 1001
Monroe County shall provide a stormwater management system which protects real and
personal properties, and which promotes and protects ground and nearshore water
quality.
Applicant's Response: The proposed development will provide a stormwater management
system as shown on the attached drainage plans, so as to protect water quality.
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Section 9.5-65 (b)
"The conditional use is consistent with the community character of the immediate vicinity
of the parcel proposed for development."
Applicant's Response: The community character of the immediate area can be best described as
mixed, and includes undeveloped land, single-family homes, a campground and marina, and a
shopping center. The properties immediately adjacent to this site are as follows: undeveloped
tropical hardwood hammock on the north side of Samson Road, an RV park (Key Largo
Kampground and Marina) to the east, single family homes and undeveloped land to the south;
and the Tradewinds Shopping Center to the west and north. The site is adjacent to the
Tradewinds Shopping Center and Friendship Park. The proposed commercial use is consistent
with the community character of the area.
Section 9.5-65 (c)
"The design of the proposed development minimizes adverse effects, including visual
impacts, or the proposed use on adjacent properties. "
Applicant's Response: The proposed affordable housing units will be developed so as to retain
existing native plants as buffers for adjacent properties, thereby minimizing the visual impacts of
the proposed development.
Section 9.5-65 (d)
"The proposed use will have an adverse effect on the value of the surrounding properties."
Applicant's Response: The proposed use will not have an adverse effect on the value of
surrounding properties. The provision of affordable housing will benefit the shopping center by
creating nearby housing for employees.
Section 9.5-65 (e)
"The adequacy of public facilities and services, including but not limited to roadways, park
facilities, police and fire protection, hospital and Medicare services, disaster preparedness
program, drainage systems, refuse disposal, water and sewers, judged according to
standards from and specifically modified by the public facilities capital improvements
adopted in the annual report required by this chapter."
Applicant's Response: According to the traffic analysis, US 1 has adequate capacity to
accommodate the traffic generated by the proposed development and will not have an adverse
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effect on the operating characteristics of US 1. All intersections analyzed will continue to
operate at an acceptable level of service.
Section 9.5-65 (I)
"The applicant for conditional use approval has the financial and technical capacity to
complete the development as proposed and has made adequate legal provision to guarantee
the provision and development of any open space and other improvements associated with
the proposed development."
Applicant's Response: The Heritage Companies has developed affordable housing in fourteen
different states and continues to manage most of these housing developments. They are familiar
with the tax credit program for affordable housing and have developed an affordable housing
project in Key West. MRT has developed and constructed many housing units including
affordable housing in Key West and the Florida Keys.
Section 9.5-65 (e)
'The development will adversely affect a known archaeological, historical or cultural
resource. "
Applicant's Response: There are no known archaeological, historical or cultural resources on this
site.
Section 9.5-65 (h)
"Public access to public beaches and other waterfront areas is preserved as part of the
proposed development."
Applicant's Response: The property is not adjacent to any public beaches or waterfront areas, and
therefore do not affect public access to any beaches or waterfront areas.
Section 9.5-65 (i)
"The proposed use complies with all additional standards imposed on it by the particular
provision of this chapter authorizing such use and by all other applicable requirements of
the Monroe County Code."
Applicant's Response: The proposed affordable housing development complies with all standards
per the Monroe County Code.
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Construction Management & Phasing Plan
Licensed Monroe County contractors will conduct all work, with direct supervision and project
management by The Heritage Companies and MRT of the Florida Keys. Local contractors will
be used, whenever possible, as to limit the amount of additional traffic and to support the local
economy.
Phasin~ Schedule
The construction of the affordable housing units will proceed as follows:
1. Native areas will be flagged by a biologist and protected from construction with fencing.
2. The site will be cleared, with the exception of native areas to be left in place.
3. Temporary erosion control devices will be put in place on site.
4. Temporary signage will be placed on site for the public safety and notification.
5. Construction debris containers will be located on site.
6. Recycling containers will be located on site.
7. The construction of the buildings will be completed in one phase.
8. Complete drainage and landscape.
Waste Generation
(I) Construction Disposal and Recycling Plan
Construction and Clearing Debris
The project site is currently undeveloped. Substantial clearing will be required for the removal
of native vegetation and the construction of the buildings. Any trees or shrubs to be transplanted
will be added to landscape areas on site. All other clearing debris will be mulched on site. All
construction debris will be removed via commercial dumpsters rented from a local company to
be named later.
Recycling of Clearing and Construction Debris
Clearing debris will be mulched on site. Any construction debris may be removed from the site
and stored for other jobs by the contractor.
Method and location of disposal
See B above.
(II) Recycling Plan
a. Source Separation
All recyclable containers, glass, aluminum and cardboard will be separated either within
the building or at the outdoor recycling area. From there the materials will be removed to
local recycling containers provided by the locally contracted company serving Key
Largo.
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b. Site Plan Location. Please see attached site plan.
c. Quantities. Please see table below. In summary, the total annual recyclable waste
created is 68,108Ibs. The total annual yard waste is estimated at 6,500 lbs.
(III) Disposal Plan
a. Quantities. Please see Recycling Plan below.
b. At present, there is not a capacity problem at the Upper Keys Disposal Site, as all waste in the
County is incinerated and the ashes are removed from the County to a remote location on the
mainland.
RecycIine Plan
Waste Generation
According to Monroe County Recycling Assistant Director Mike Lawn, a 20 unit multi-family
housing development will generate two-yard dumpsters twice a week. A dumpster holds 142 lbs
per cubic yard. A 20-unit development generates 568 lbs of waste per week. Therefore, this
122-unit development will generate 3,465 lbs of waste per week, and a total of 180,180 lbs per
year.
Use
Size
Multi-family
Week
3,465 lbs
122 units
Quantity By Composition
Item Percentage
Paper
Cardboard
Plastic
Metals
Other
Week
1,2131bs
347 lbs
277lbs
35lbs
554 lbs
35%
10%
8%
1%
16%
Yard Waste
Estimated @ 6,500 lbs per year
Total
Year
180,1801bs
Quantity
Year
63,063 lbs
18,0181bs
14,4141bs
1,802 lbs
28,829 lbs
RecycIables
Assume that 70% of all paper, cardboard, plastic and metals can be recycled. The total
recyc1ables expected are: weekly - 1,310 lbs and annually - 68,108 lbs.
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Tradewinds Affordable Housing. Recycling Plan Assumptions
Density Conversion Figures
Use these approximate conversion figures to convert weight to volume:
News 500 Ibslcu.yd. Mixed Glass & Cans 330Ibs/cu.yd.
Glass 600 Ibslcu.yd. (2:1 Ratio)
Steel Cans 160 Ibslcu.yd. OCC Uncompacted 250Ibslcu.yd.
Aluminum Cans 60 Ibslcu.yd. OCC Compacted 400-600 Ibslcu.yd.
Pet Bottles 30Ibslcu.yd. White Ledger Flat 3oo-450Ibslcu.yd.
HDPK Bottles 25Ibslcu.yd. Crumpled Ledger 110-200 Ibslcu.yd.
Weekly Waste Generation By Occupied Square Foot
Waste Product in Pounds Per
Generator Segment
Office
Industrial
Transportation, Communication
& Utilities
Retail
WholesalelWarehouse &
Distribution (WW A)
Public & Institutional (Public)
Occupied Sq.Ft
Per Week
0.05
0.06
Per Year
2.6
3.12
0.10
0.22
5.2
11.44
0.06
0.04
3.12
2.08
Generator
Office
Industrial
Transport, Communication
& Utilities 20%
Retail 35%
WholesaleIWarehouse &
Distribution (WW A)
Public
Commercial Waste Quantity and Composition
~ Cardboard ~ ~
65% 15% 6% 2%
35% 20% 25% 6%
~
12%
14%
15%
40%
15%
8%
5%
1%
45%
16%
25%
45%
32%
10%
25%
5%
7%
6%
11%
34%
*Source: Tables from Westchester County's Solid Waste Management Plan, August 1989
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