|October 22, 2019 - Regular Meeting|
Agenda Item #50
Execution of Land Use Restriction Agreement for 2925 7th Street West, Bradenton, FL 34205 under the Livable Manatee Homeownership Incentive Program
Contact and/or Presenter Information
Geri Lopez, Director, Redevelopment and Economic Opportunity Department, ext 3937
Denise Thomas, Community Development Division Manager, ext 3474
Authorization for the Chairman to execute the Land Use Restriction Agreement for Livable Manatee Homeownership Incentive Program between Manatee County and Community Solutions 360, Inc. (Owner/Developer) for property located at 2925 7th Street West, Bradenton, FL 34205.
Resolution R-17-069 - Livable Manatee Incentive Program
- On August 22, 2017, the Board of County Commissioners adopted Resolution R-17-069 establishing the Livable Manatee Incentive Program for Qualified New Affordable Housing in Unincorporated Manatee County and authorizing the establishment of Administrative Procedures for implementation of the Livable Manatee Incentive Program.
- Staff worked with the County Attorney's office to develop the template for the Land Use Restriction Agreements (LURA) to be utilized for the Livable Manatee Incentive Program. On April 25, 2018, the County Attorney's Office approved the template for the LURA to be utilized for the Livable Manatee Homeownership and Rental Incentive Program.
- On April 26, 2019, an Affordable Housing Designation Application was received for Property located at 2925 7th Street West, Bradenton, FL 34205, for development of an affordable single-family unit with a sales price of $160,000 that will be sold to a very low (50%) or low (80%) AMI household.
- The Land Use Restriction Agreement for Homeownership has been prepared by staff and executed by the Owner/Developer. The LURA is the mechanism that ensures the home is sold to a qualified buyer and allows for payment of County and School Impact Fees and Facility Investment Fees incurred in the development of the affordable housing unit located at 2925 7th Street West, Bradenton, FL 34205.
- A qualified very low or low income household will be approved for purchase of the unit upon completion and there is an anticipated closing date scheduled for the home on or before November 30, 2019. Execution of the Land Use Restriction Agreement is required prior to closing for the Owner/Developer to be reimbursed for County and School Impact Fees and Facility Investment Fees through the Livable Manatee Homeownership Incentive Program.
County Attorney Review
Not Reviewed (Utilizes exact document or procedure approved within the last 18 months)
Explanation of Other
Instructions to Board Records
Please provide an original executed Land Use Restriction Agreement to Denise Thomas, ext 3474, Redevelopment and Economic Opportunity Department (email@example.com).
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
Attachment: 2925 7th.pdf
Attachment: Aerial Map of property located at 2925 7th.pdf