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Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - November 7, 2017
REVISED November 7, 2017 - Regular Meeting
Agenda Item #49


Subject
Land Use Restriction Agreement (LURA) and Deed Restrictions for The Terraces of Peridia

Briefings
None

Contact and/or Presenter Information
Bill O'Shea, Community Development Project Manager, ext. 6858

Geraldine Lopez, Director, ext. 3937

Action Requested
Authorization for the Chairman to execute the Land Use Restriction Agreement and Deed Restrictions for The Terraces of Peridia.


Enabling/Regulating Authority
Policy 6.1.3.3 of the Comprehensive Plan  

Section 545 of the Land Development Code


Background Discussion
  • On August 4, 2016, the Board of County Commissioners approved Peace River Presbytery, Inc./The Terraces at Peridia, PDR-15-27(Z)(P), for 61 multifamily residential units.
  • Upon request from the Developer, the County designated this project as an Affordable Rental Housing Development (2015-02), provided that the developer provide a minimum of 16 units (25%) as affordable units.
  • The developer received incentives for the affordable designation including Housing Rapid Response Team/Fast Tracking, a review fee refund, and a density bonus.
  • The Land Use Restriction Agreement and Deed Restrictions is the formal agreement between the County and Developer for the Affordable Rental Housing Designation, and requires that the developer maintain a minimum of 16 affordable units for 15 years.


County Attorney Review
Formal Written Review (Opinion memo must be attached)

Explanation of Other


Reviewing Attorney
Clague

Instructions to Board Records
Please return one original Land Use Restriction Agreement and Deed Restrictions to Bill O'Shea, Redevelopment and Economic Opportunity Department (X6858).

Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  Terraces of Peridia LURA.pdf
Attachment:  CAO Approval Memo - Terraces of Peridia.pdf