HomeMy WebLinkAboutSummary FormDate: 12/13/2005
AGENDA ITEM SUMMARY FORM
FILE ID: 65-0\6aD,
Requesting Department: Community Development
Commission Meeting Date: 1/12/2006 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 FOR AFFORDABLE HOUSING;
FURTHER AUTHORIZNG A THIRTY (30) YEAR AFFORDABILITY RESTRICTIVE
COVENANT TO BE ENFORCED BY HABITAT FOR HUMANITY OF GREATER MIAMI, INC.
FOR SAID TEN PARCELS OF LAND; AUTHORIZING THE CITY MANAGER TO EXECUTE A
PARTIAL RELEASE OF RESTRICTIVE COVENANT, IN SUBSTANTIALLY THE ATTACHED
FORM, AND ALL NECESSARY DOCUMENTS, FOR SAID PURPOSE.
Background Information:
• The ten parcels of land have a 10 year affordability restrictive covenant
• A new covenant will be enforced by Habitat for Humanity of Greater Miami, Inc. protecting the
City with a thirty (30) year affordability covenant for the said ten parcels of land.
Bud2et 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 Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE).
Dept. Directo
Chief .Ll v City Manager,
PAOP 1 of 1