Resolution 265-2002
RESOLUTION 265 -2002
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA
AUTHORIZING THE ASSIGNMENT OF ROGO ALLOCATIONS,
TRANSFERABLE ROGO EXEMPT UNITS AND NUTRIENT
REDUCTION CREDITS TO MERIDIAN WEST, LTD. TO
PROVIDE FOR THE DEVELOPMENT OF AFFORDABLE
HOUSING ON STOCK ISLAND
WHEREAS, on March 20, 2002, the Monroe County Land Authority approved
providing a $1.5 million, 50-year zero interest mortgage for the Meridian West
Apartments for the development of a 102-unit affordable housing project on Stock Island;
and,
WHEREAS, on March 13, 2002, the Monroe County Planning Commission
approved a conditional use for development of the Meridian West Apartment
development; and,
WHEREAS, Meridian West, Ltd. has requested the Board of County
Commissioners to assign to its proposed 102-unit multi-family project, known as
Meridian West Apartments, a sufficient number of RaGa allocations and nutrient
reduction credits sufficient to permit the construction of this project; and,
WHEREAS, Meridian West, Ltd. needs 90 RaGa allocation awards with
nutrient reduction credits to be able to construct this affordable housing project; and,
WHEREAS, the County Planning Director needs this firm commitment from the
Board of County Commissioners related to RaGO allocations and nutrient reduction
credits to sign appropriate forms and certifications required by Meridian West, Ltd., to
file its application for State/Federal tax credit funding; and,
WHEREAS, Meridian West, Ltd., is required to have its application and
necessary certification forms completed by no later than June 26, 2002; and,
WHEREAS, on May 21, 2002, the Advisory Committee of the Monroe County
Land Authority recommended to the Land Authority to convey its rights to 25
transferable RaGa exempt units and six nutrient reduction credits to Meridian West,
Ltd., to be applied to the Meridian West Apartment development;
WHEREAS, if this conveyance of transferable RaGa exempt units and nutrient
reduction credits is approved by the Monroe County Land Authority on June 19, 2002,
the project still requires 65 RaGa allocations with nutrient reduction credits; and,
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WHEREAS, the Growth Management Division has identified that a sufficient
combination of RaGa allocations, transferable RaGa exempt units and nutrient
reduction credits are available from various sources to provide the additional 65
allocations; and,
WHEREAS, 42 affordable housing RaGa allocations with nutrient reduction
credits are available from the Lower Keys RaGa pool; and,
WHEREAS, 3 nutrient reduction credits are available from the Department of
Health; and,
WHEREAS, 14 transferable RaGa exempt units are available from the pool of
RaGa exempt units authorized for replacement housing for elimination of illegal units in
downstairs enclosures authorized by a Florida Statutes (F.S.) Chapter 380 Agreement
between Monroe County and the Florida Department of Community Affairs (DCA),
dated December 27, 1999; and,
WHEREAS, 9 RaGa allocations without nutrient reduction credits are available
from a pool of 201 affordable housing allocations authorized by a F.S. Chapter 380
Agreement between Monroe County and the DCA, dated May 3,2001; and,
WHEREAS, Meridian West Apartments is the only viable affordable housing
project in the Lower Keys that currently needs these allocations and nutrient reduction
credits; and,
WHEREAS, the Growth Management Division recommends approval of the
request by Meridian West, Ltd. and the assignment of the necessary combination of
transferable RaGa exempt units, RaGa allocations, and nutrient reduction credits to the
Meridian West Apartment development; NOW THEREFORE,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, that:
Section 1. The Meridian West Apartment development is assigned 42 affordable
housing RaGa allocations and nutrient reduction credits from the Lower Keys RaGa
pool; 3 nutrient reduction credits from the Lower Keys provided to Monroe County by
the Department of Health; 14 transferable RaGa exempt units from the pool available
authorized by a F.S. Chapter 380 Agreement between the County and DCA to replace
eliminated illegal downstairs units; and 9 RaGa affordable housing allocations from the
pool of 201 affordable housing allocations authorized under a F.S. Chapter 380
Agreement between the County and DCA.
Section 2. The above assignment of transferable RaGa exempt units, RaGa
allocations, and nutrient reduction credits shall be valid so long as the development's
2002 application to the Florida Housing Finance Corporation (FHFC) for construction
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financing remains viable. In the event the FHFC declines to finance Meridian West
Apartments in the 2002 FHFC funding cycle, these transferable ROGO exempt units,
ROGO allocations, and nutrient reduction credit assignments shall expire.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe
County, Florida, at a regular meeting of said Board held on 19th day of June, 2002.
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:, Atte$t:D~ L. KOLHAGE, Clerk
Mayor Charles "Sonny" McCoy
Mayor Pro Tern Dixie Spehar
Commissioner Murray Nelson
Commissioner George NeuRent
Commissioner Humberto Bert"
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yes
not present
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Jimenez
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BOARD OF COUNTY COMMISSIONERS
OF MONROE /?UNTY, FLORIDA
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