Agenda 03/23/2021 Item #16D11 (Release of Lien - AHDB Program)03/23/2021
EXECUTIVE SUMMARY
Recommendation to approve and authorize the chairperson to sign a release of lien for a unit that is
no longer subject to the terms of the Affordable Housing Density Bonus Program.
OBJECTIVE: To support the affordability of housing through the Affordable Housing Density Bonus
(AHDB) Program.
CONSIDERATIONS: Pursuant to Section 2.06 et seq. of the Collier County Land Development Code
(LDC), the identified homeowner executed an AHDB Agreement lien encumbering their property in the
Botanical Place community PUD. The AHDB Program seeks to provide an incentive to construct
affordable housing units in Collier County.
The following provision applies to the property if the property is sold or assigned within fifteen (15) years
after the original purchase date:
“at a sales price in excess of five percent (5%) per year of the original purchase price of $126,970.16, I,
my heirs, legal representatives, successors or assigns shall pay to Collier County an amount equal to
one-half of the sales price in excess of the five percent (5%) increase per year” (emphasis added).
As such, if the borrower sells the property for less than the original sales price; there is no repayment
obligation to Collier County. If the borrower sold the property “in excess of five percent (5%) per year of
the original purchase price” and if there is an increase in appreciation of more than five percent (5%) per
year, the borrower would pay the County one-half of the excess of five percent (5%). Based on
calculations set forth in the Payment Estimator that is back-up to this item, repayment to Collier County
is not required for a sales price of $185,000.
The table details the release of lien associated with this Item.
Name Purchase
Date
Purchase
Price
Public
Record
Sold Date Sold Price Payoff
Amount
Kristen J. Smith 12/29/2006 $126,970.16 OR4166/
PG1781
3/23/2020 $185,000 $0
The release of lien both mentions the property owner and the developer, PJM Limited Partnership, LLP,
agreement with Collier County which was released on 12/21/2005 Book 3952, Page 269. This lien is also
referenced in a certain Warranty Deed executed by PJM Limited Partnership, LLLP to Kristen J. Smith,
recorded on 01/09/2007 in Official Records Book 4166, Page 1779 of the Public Records of Collier
County, Florida. The proposed release of lien was developed with language requested by the title
company and will ensure that the title is clear.
FISCAL IMPACT: There is no Fiscal impact. The recording fee for this Release of Lien will be paid
from Fund (116), Project 50137.
GROWTH MANAGEMENT IMPACT: The Affordable Housing Density Bonus Program assists the
County in meeting some of its goals and objectives in the Housing Element of the Growth Management
Plan.
LEGAL CONSIDERATIONS: This Item is approved for form and legality and requires a majority vote
for Board of County Commissioners (Board) approval. -JAB
16.D.11
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03/23/2021
RECOMMENDATION: To approve and authorize the Chairperson to sign one (1) release of lien for a
unit that is no longer subject to the terms of the Affordable Housing Density Bonus Program.
Prepared By: Lisa N. Carr, Interim Housing Manager, Community and Human Services Division
ATTACHMENT(S)
1. AHDB LIEN Smith, Kristen (PDF)
2. Developer Agreement-06-016IF & Lien Release (PDF)
3. Warrenty Deed (PDF)
4. AHDB_Payoff_Kristen Smith (PDF)
5. ROL -AHDB Smith, Kristen (PDF)
16.D.11
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03/23/2021
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.D.11
Doc ID: 14966
Item Summary: Recommendation to approve and authorize the chairperson to sign a release of
lien for a unit that is no longer subject to the terms of the Affordable Housing Density Bonus Program.
Meeting Date: 03/23/2021
Prepared by:
Title: Grants Coordinator – Community & Human Services
Name: Lisa Carr
02/08/2021 3:49 PM
Submitted by:
Title: Manager - Federal/State Grants Operation – Community & Human Services
Name: Kristi Sonntag
02/08/2021 3:49 PM
Approved By:
Review:
Community & Human Services Jose Alvarado Additional Reviewer Completed 02/09/2021 10:10 AM
Procurement Services Sandra Herrera Additional Reviewer Skipped 02/09/2021 11:12 AM
Community & Human Services Kristi Sonntag CHS Review Completed 02/16/2021 10:05 AM
Community & Human Services Maggie Lopez Additional Reviewer Completed 02/17/2021 9:02 AM
Operations & Veteran Services Kimberley Grant Additional Reviewer Completed 02/17/2021 5:11 PM
Public Services Department Todd Henry Public Services Deapartment Completed 02/18/2021 7:37 AM
Grants Erica Robinson Level 2 Grants Review Completed 02/18/2021 8:54 AM
Public Services Department James C French PSD Dept Head Review Completed 02/19/2021 1:13 PM
County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 03/12/2021 2:35 PM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 03/12/2021 2:42 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 03/15/2021 9:44 AM
Budget and Management Office Ed Finn Additional Reviewer Completed 03/15/2021 3:29 PM
County Manager's Office Dan Rodriguez Level 4 County Manager Review Completed 03/16/2021 10:31 AM
Board of County Commissioners MaryJo Brock Meeting Pending 03/23/2021 9:00 AM
16.D.11
Packet Pg. 1193
16.D.11.a
Packet Pg. 1194 Attachment: AHDB LIEN Smith, Kristen (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1195 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1196 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1197 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1198 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1199 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1200 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1201 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1202 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.b
Packet Pg. 1203 Attachment: Developer Agreement-06-016IF & Lien Release (14966 : ROL Smith, Kristen)
16.D.11.c
Packet Pg. 1204 Attachment: Warrenty Deed (14966 : ROL Smith, Kristen)
16.D.11.c
Packet Pg. 1205 Attachment: Warrenty Deed (14966 : ROL Smith, Kristen)
AHDB PAYOFF ESTIMATOR (Version 1.1 04/26/19)
Date Format = mm/dd/yy
Enter Data in Yellow Cells AHDB Lien Recorded 01/09/07
Estimated Sales Date 03/23/21
Elapsed Days 5187
Elapsed Years 14.2
$126,970 Original Sale Price
$6,349 5% of Original Sales Price
$6,349 per year, times 14.2 years $90,218 Allowed Appreciation
+$126,970 Original Sales Price
$217,189 Max Allowable Sales Price
$185,000 New Sales Price
-$32,189 Difference in Max Allowable Sales Price and Sales Price
-$32,189 Excess Appreciation Above 5% per year
-$16,094.27 50% of Excess Appreciation due to County (if negative, no payoff due to County)
$0 Payoff Due to County
16.D.11.d
Packet Pg. 1206 Attachment: AHDB_Payoff_Kristen Smith (14966 : ROL Smith, Kristen)
16.D.11.e
Packet Pg. 1207 Attachment: ROL -AHDB Smith, Kristen (14966 : ROL Smith, Kristen)