HomeMy WebLinkAboutSummary FormDate: 1/20/2006
AGENDA ITEM SUMMARY FORM
FILE ID: b C" 00 la‘
Requesting Department: Community Development
Commission Meeting Date: 2/9/2006 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: RELEASE OF RESTRICTIVE COVENANT
Purpose of Item:
APPROVING THE RELEASE OF A TEN-YEAR AFFORDABILITY RESTRICTIVE COVENANT
FOR TEN PARCELS OF LAND, DESCRIBED IN ATTACHMENT "A", ATTACHED AND
INCORPORATED, THAT ARE BEING DEVELOPED BY HABITAT FOR HUMANITY OF
GREATER MIAMI, INC. FOR AFFORDABLE HOUSING; AUTHORIZING AN
AFFORDABILITY RESTRICTIVE COVENANT TO BE IMPOSED ON THE NINE PARCELS OF
LAND, DESCRIBED ON ATTACHMENT "B"; ATTACHED AND INCORPORATED, FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE A PARTIAL RELEASE OF
DECLARATION OF RESTRICTIVE COVENANTS, IN SUBSTANTIALLY THE ATTACHED
FORM, AND ANY ADDITIONAL NECESSARY DOCUMENT(S), FOR SAID PURPOSE.
Background Information:
• The ten parcels of land described on Attachment "A" are subject to a ten-year affordability
restrictive covenant in favor of the City that was agreed to by Scattered Site Home Ownership, L.L.C.,
a Florida limited liability company, the former owner of the property;
• One of those parcels is also subject to a fifteen year affordability restrictive covenant in favor of the
City that was subsequently imposed in the City Deed conveying the property to Habitat for Humanity
of Greater Miami, Inc. ("Habitat");
• In connection with the conveyance of the remaining nine parcels to Habitat, described on
Attachment "B", Habitat has agreed to the imposition of a new affordability restrictive covenant
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
Is this item funded by Homeland DefenselNeighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Dept. Directo
Chief �+
Final Approvals
(SIGN AND DATE)
City Manager
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