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Agenda 09/23/2014 Item #16D 29/23/2014 16.D.2. EXECUTIVE SUMMARY Recommendation to approve a release acknowledging completion of the requirements set forth in the "Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property" for the Bear Creek Apartments. OBJECTIVE: To satisfy the Affordable Housing Density Bonus programs and release the lien placed on the Bear Creek Apartments. CONSIDERATIONS: On April 14, 1992 Collier County entered into an Affordable Housing Density Bonus Agreement (AHDB) with Bear Creek of Naples, Ltd. (the developer) for Bear Creek Apartments. The Agreement authorized the construction of 119 bonus units on the subject property, for a total of 120 rental units in the Project. The units were required to be rented under specified affordability guidelines for the term of the Agreement. The term was specified as follows: 14. Termination. Each affordable housing unit shall be restricted to remain and be maintained as the type of affordable housing rental unit (low or very low income) designated in accordance with this Agreement for at least fifteen (15) years from the date of the issuance of a Certificate of Occupancy for such unit. After fifteen years this Agreement may terminate upon a date mutually agreed upon by the parties and stated in writing. The specified units received Certificates of Occupancy between April 17, 1995 and April 21, 1995. Therefore, the term of the Agreement concluded (by date) on April 21, 2010. It is unknown why the Agreement was not released upon the conclusion of the term. Staff has reviewed all documentation provided by the owner /agent/property management company for the apartment complex to ensure and verify affordable qualifications were met. Staff has confirmed that the proper documentation is in place indicating the identified apartment units were rented to those individuals or families that qualified as affordable clients as identified by the HUD regulations over the last fifteen years. As such, it is appropriate for the release of lien to be recorded in the public records. Staff is researching similar legacy agreements to ensure that the proper releases have been approved and recorded. This property also has a land restriction from the Florida Housing Finance Corporation to remain affordable until 2044, as this property received State housing credits. This means that even with the release of the County affordable housing density bonus lien, this property will continue to operate as an affordable rental complex and will remain available to income restrictive families and individuals until at least 2044. FISCAL IMPACT: Funds to record the lien release are budgeted in the Affordable Housing Trust Fund (AHTF), Fund and Cost Center (111 - 138759). GROWTH MANAGEMENT IMPACT: The release of the AHDB Agreement will continue to support the goals, objectives and policies of the Housing Element of the Growth Management Plan. This property has an existing agreement with the Florida Housing Finance Corporation to remain affordable until 2044. Packet Page -2398- 9/23/2014 16.D.2. LEGAL CONSIDERATIONS: This item is approved as to legality and requires a majority vote for Board approval. - JAB RECOMMENDATION: That the Board of County Commissioners approves a release acknowledging completion of the requirements set forth in the "Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property" for the Bear Creek Apartments. Prepared by: Elly Soto McKuen, Grant and Housing Coordinator and Amy Patterson, Impact Fees and Economic Development Manager Packet Page -2399- 9/23/2014 16.D.2. COLLIER COUNTY Board of County Commissioners Item Number: 16.16.D.16.D.2. Item Summary: Recommendation to approve a release acknowledging completion of the requirements set forth in the "Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property" for the Bear Creek Apartments. Meeting Date: 9/23/2014 Prepared By Name: McKuenElly Title: Grants Coordinator, Housing, Human & Veteran Services 8/5/2014 2:19:43 PM Submitted by Title: Grants Coordinator, Housing, Human & Veteran Services Name: McKuenElly 8/5/2014 2:19:43 PM Approved By Name: GrantKimberley Title: Director - Housing, Human and Veteran S, Housing, Human & Veteran Services Date: 9/9/2014 9:28:42 AM Name: Bendisa Marku Title: Supervisor - Accounting, Housing, Human & Veteran Services Date: 9/9/2014 2:47:22 PM Name: TownsendAmanda Title: Director - Operations Support, Public Services Division Date: 9/9/2014 4:50:45 PM Name: MesaNancy Title: Accountant, Housing, Human & Veteran Services Date: 9/10/2014 9:14:05 AM Packet Page -2400- 9/23/2014 16.D.2. Name: AlonsoHailey Title: Operations Analyst, Public Services Division Date: 9/11/2014 11:35:02 AM Name: PattersonAmy Title: Manager - Impact Fees & EDC, Business Management & Budget Office Date: 9/15/2014 9:25:28 AM Name: RobinsonErica Title: Accountant, Senior, Grants Management Office Date: 9/15/2014 10:05:36 AM Name: BelpedioJennifer Title: Assistant County Attorney, CAO General Services Date: 9/15/2014 3:49:35 PM Name: CamellSteve Title: Administrator - Public Services, Public Services Division Date: 9/15/2014 5:31:32 PM Name: KlatzkowJeff Title: County Attorney, Date: 9/16/2014 8:40:00 AM Name: StanleyTherese Title: Manager - Grants Compliance, Grants Management Office Date: 9/16/2014 2:40:01 PM Name: OchsLeo Title: County Manager, County Managers Office Date: 9/16/2014 3:14:49 PM Packet Page -2401- 9/23/2014 16.D.2. RELEASE OF "AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING RESTRICTIONS ON REAL PROPERTY" KNOWN ALL MEN BY THESE PRESENTS That COLLIER COUNTY, whose post office address is 3299 Tamiami Trail East, Naples, Florida, 34112, the owner(s) and holder(s) of a certain Agreement Authorizing Affordable Housing Density Bonus and Imposing Restrictions on Real Property executed by Bear Creek of Naples, Ltd to Collier County, recorded on April 14, 1992, in Official Records Book 051, Page 351, of the Public Records of Collier County, Florida has terminated and is hereby released, remised, quitclaimed, exonerated and discharged from said agreement, that certain portion of the premises conveyed by said agreement, more particularly described as follows: REAL PROPERTY DESCRIBED IN EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF The undersigned is authorized to and does hereby release the agreement with respect to the above named property and consents to the agreement being forever discharged of record with respect to said property. ATTEST: DWIGHT E. BROCK, Clerk LE Deputy Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: TOM HENNING. CHAIRMAN Approved as to form and legality: Jennifer A. Belpedio P `�� Assistant County Attorney C; `�10 0� Packet Page -2402- 9/23/2014 16.D.2. EXMI T "A" Legal Description Commencing at the Southeast corner of Section 2, Township 49 South, Range 25 East, Collier County, Florida; Thence along the East be of said Section 2, North 2° 14' 00" West 751.11 feet; thence parallel with the North line of the South 12 of the Northeast 114 of the Southeast 1/4 of said Section 2, South 89" 51' 42" West 100.07 feet to the West Right -of -Way line of State Road 31 and the PLACE OF BEGINIM0 of the pared herein described: Thence continuing parallel with the North line of the South 112 of the Northeast 1/4 of the Southeast 1/4 of Bald section 2, South 89' 51142" West 1252.08 feet to the West Ate of the East 12 of the Southeast 1/4 of said Section 2; thence along said West line of the fast 112 of the Southeast 114 of said Section 2; North 1057300 West 298.24 feet; thence parallel with the North line of the South I2 of the Northeast 1/4 of the Southeast 1/4 of said Section 2, North 89" 51' 42" Fast 1250.68 feat to the West right -of -way line of State Road 31; thence along said West right -of -way line, South r 14' 00" East 29830 feet to the PLACE OF BECIINNWQ; being a part of the Best 12 of the Southeast 114 of Section 2, Township 49 Sonde. Range ZS FAsh C A9llcc.r&=ty, Florida. LESS AND EXCEPT that part eoavayad t y` — vision of the State of Florida for additional right of way for County Re 1© recorded in O Book 2124, Page 1295 and being more particularly described as fo11 Commencing at the Southeast of Ran 25 4 Collier County, Florida: Thence along the East line of said t n N 020 0 .751.1 feet• tl ce S. 89 °Sl'42" W. 100.07 feet, parallel with the North line of the S 1/ of aid Section 2 to the West right of way line of County Road 1. ( ri• a ; g d ght f way line N. 02014'00" W. 213.57 feet to a point on said ri Ing: Thence S. 89°51'42" W. 12.00 fe [a of " W. 84.72 feet to the North line of Beer Creek Apartments, s being parallel with the lin of 12 of the Northeast 1/4 of the Southeast 1/4 of Section 2, To 9 South, Range 25 Thence along said hot N. 89°51'42" feet to the add West County Road 31 (Airport-Pulling Road); thence along said right of vtssy E. $4.711, fat to the AND LESS AND EXCEPT E CIRG� Any water facilities conveyed to Board of County Commissioners of Collier County, Florida in Utility Facilities Warranty Deed recorded in Official Records Book205%Page 549 described as follows: A strip of land 15.00 feet in width, 750 feet on each side of the following described centerline: Commencing at the Southeast comer of Section 2, Township 49 South, Range 25 East, Collier County, Florida: T&coce along the East line of said Section 2, N. 02014'00" W. 751.11 feet; thence S. 990SI1421 W. 100.07 feet, parallel with the North line of the South 12 of the Northeast 114 of the Southeast 1/4 of said Section 2 to the West right of way line of State Road 31(Airport Puling Road); thence along said right of way line, N. 02 114'00" W. 131.62 feet to the point of beginning of the I=& herein described; thence leaving old right of way line, 87111'15" W. 56.68 feet; thence S. 63 018113 W. 113.16 feet to the reference Point 'A ; thence N. 26 041'47" W. 20.93 feet to the point of termination of said cwterlina Together with: A strip of land 15.00 feet in width lying 7.50 feet on each side of the following described centerline: Begin at aforesaid reference Point W; thence S. 63" 18'13" W. 65.84 feet; thence N. 26 041147" W. 74.00 feet; amce S. 63 °18'13" W. 97.41 feet; thence S. 89°51'42" W. 40A3 feetto refeence Point B'; thence S. 00 °08'18" E. 20.77 feet to the point of termination of said centerline. Packet Page -2403- I 9/23/2014 16.D.2. Together with: A strip of land 15.00 feet in width lying 7.50 feet on each side of the following described eontarliae: Begin at aforesaid reference Point '81; thence continue S. 89°31'42" W.216.91 feet to reference point 'C`* thence S. 00 °08'18" 20.64 feet to the point oftermination of sold centerline. Together with: A strip of land 15.00 feet in width lying 7.50 feet on each side of the following described centerline: Begin at aforesaid reference Point 'C'; thence continue S. 89051'42' W. 114.82 feet to reference Point V, thence N. 00°08'] 8" W. 98.49 feet to reference Polnt'E . thence S. 89 °51'42" W. 20.72 feet to the point of termination of said ceaterllae. Together with: A snip of land I S.00 feet In width bring 7.50 feet on each side of the following described centerline: Begin at aforesaid reference Point 'W; thence continue N. 00"OS'l8" W. 45.47 feet; thence S. 89°51'42" W. 320.67 feet; thence S. 00908'18" E. 6631 feet to referee 89 951142" W. 178.13 feet to the point of termination of said centerline. O�L Together with: t� A strip of land 15.00 feet in width feet on each silo of the fol[o 'ng ed centerline: Begin at aforesaid reference Point cc S 08'18" . 755 to Terence Point' . thence N. 09 °5142" E. 20.80 feet to the po of Together with: A strip of land 15.00 feet in wi t be f ed teaterllae: Begin at aforesaid reference Point cc S. 00908'18" 8 70. 94Sl142° E.160.89 feet to reference Point'H; thence S. 00 00 0.08 feet to the point said centerline. Together with: A strip of land IS.00 feet In width lying 7- �t C desmbed eenttuline: Begin at aforesaid reference Point 'ii , thence N. 8915 9.78 feet to said reference Point V and the point of termination of said eentcdine. All of said lands lying in Collier County, Florida. Bearings are based on the East line of Section 2, Township 49 South, Range 25 East, Collier County, Florida, being N. 02 014'00" W. i i I i Packet Page -2404-