www.mymanatee.org
Bradenton Area Convention Center One Haben Boulevard, Palmetto - Longboat Key Room 9:00 a.m. - August 11, 2020
August 11, 2020 - Regular Meeting
Agenda Item #31


Subject
Execution of Agreement for Termination of Livable Manatee Homeownership Incentive Program Land Use Restriction Agreement for 423 30th Street East, Palmetto, FL

Briefings
None

Contact and/or Presenter Information
Geri Lopez, Director, Redevelopment and Economic Opportunity Department, ext. 3937

Denise Thomas, Community Development Division Manager, ext. 3474


Action Requested

Authorization for the Chairman to execute Agreement to Terminate the Land Use Restriction Agreement for Livable Manatee Homeownership Incentive Program between Manatee County and Select Homes of Florida, LLC. (Owner/Developer) for property located at 423 30th Street East, Palmetto, FL 34221.



Enabling/Regulating Authority
Resolution R-17-069 - Livable Manatee Incentive Program


Background Discussion
On September 18, 2019, an Affordable Housing Designation application was received for property located at 423 30th Street East, Palmetto, FL 34221.

On February 25, 2020, the Board of County Commissioners executed a Land Use Restriction Agreement with Select Homes of Florida, LLC. for development of an affordable single-family unit with a sales price of $144,000 to be sold to a very-low (50%), low (80%), or moderate (120%) income household.

On May 11, 2020, the Land Use Restriction Agreement was recorded by the Owner under instrument number 202041047658 in public records.

On May 22, 2020, the Owner established a contract for purchase with an individual that does not qualify as a very-low, low, or moderate income household under the Livable Manatee Income Requirements.

On July 23, 2020, the Owner requested that the Land Use Restriction Agreement be terminated for the property located at 423 30th Street East, Palmetto, FL 34221 to allow for the sale of the property.

No incentives have been paid or will be paid on this property.


County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records

Please provide an original Termination Land Use Restriction Agreement to Deborah Ash, ext 3478, Redevelopment and Economic Opportunity Department (Deborah.Ash@mymanatee.org).



Cost and Funds Source Account Number and Name
0

Amount and Frequency of Recurring Costs
0


Attachment:  423 30th Request Term LURA Letter.pdf
Attachment:  termination of lm lura.pdf