|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - May 22, 2018|
Agenda Item #39
Execution of Land Use Restriction Agreement for 902 38th Terrace East, Bradenton, under 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 Chairman to execute the Land Use Restriction Agreement for Livable Manatee Homeownership Incentive Program between Manatee County and Jonathan Bilton Lyon (Owner) and Rinehart Homes, LLC (Developer) for property located at 902 38th Terrace East, Bradenton.
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 19, 2018, an Affordable Housing Designation Application was received for property located at 902 38th Terrace East, Bradenton, for development of an affordable single-family unit with a sales price of $145,000 that will be sold to low (80% AMI) or moderate (120%) AMI households.
The Land Use Restriction Agreement for Homeownership has been prepared by staff and executed by the Owner and 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 902 38th Terrace East, Bradenton.
A qualified low income household has also been approved for purchase of the unit upon completion and there is currently an anticipated closing date scheduled for the home on May 25, 2018.
Execution of the Land Use Restriction Agreement is required prior to closing for the Owner and Developer to be reimbursed for County and School Impact Fees and Facility Investment Fees through the Livable Manatee Homeownership Incentive program.
County Attorney Review
Formal Written Review (Opinion memo must be attached)
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: Livable Manatee LURA for 902 38th Terrace.pdf
Attachment: County Attorney Memo.pdf