Agenda 06/25/2024 Item #10A (Golden Gate Golf Course Housing Project)06/25/2024
EXECUTIVE SUMMARY
Recommendation to approve a Status Update for the Golden Gate Golf Course Housing Project with Rural
Neighborhoods, Inc., and Renaissance Hall at Old Course, LLC.
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OBJECTIVE: To update the Board on the status of a financing commitment for the Golden Gate Golf Course
Housing Project.
CONSIDERATIONS: On December 13, 2019, the County publicly advertised ITN No. 20-7698 for the
development of an affordable and senior housing project on the Golden Gate Golf Course (the “Project”). On June
9, 2020, the Board selected Rural Neighborhoods, Inc., (“Rural Neighborhoods” or “Developer”) and directed staff
to begin negotiations. On November 10, 2020, the Board approved the negotiated Developer Agreement
(“Developer Agreement”). On April 25, 2023, the Board approved a First Amendment to Developer Agreement
and a Collier County Standard Form Long-Term Ground Lease. On March 26, 2023, the Board approved a series of
documents related to the Project, including a Second Amendment to Developer Agreement, Income Sharing
Agreement, Termination of Ground Lease, revised Standard Form Long-Term Ground Leases for Phases I and II,
and easements.
The Developer Agreement allows the housing to be developed in phases. Phase 1, Renaissance Hall at Old Course,
provides essential services housing, and Phase 2 is identified as senior housing. The original deadline for securing
funding commitments for Phase 1 was October 25, 2023, and this deadline has been extended by the Board several
times since then. On May 28, 2024, the Board approved an extension until June 30, 2024, for the Developer to
obtain a financing commitment.
As of June 10, 2024, the Developer has obtained final clearance from HUD, including the previously outstanding
environmental clearance. The HUD Regional Loan Committee approval has been granted. The Loan is now in
queue for National Loan Committee review and approval. Receipt of a Firm Commitment from the National Loan
Committee is expected prior to June 30, 2024.
FISCAL IMPACT: There is no fiscal impact associated with this item.
GROWTH MANAGEMENT IMPACT: None.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires a majority vote for
Board approval. - JAK
RECOMMENDATION: To approve the Status Update for the Golden Gate Golf Course Housing Project with
Rural Neighborhoods, Inc., and Renaissance Hall at Old Course, LLC.
Prepared by: Commissioner Burt L. Saunders, District 3
10.A
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06/25/2024
COLLIER COUNTY
Board of County Commissioners
Item Number: 10.A
Doc ID: 28251
Item Summary: Recommendation to approve a Status Update for the Golden Gate Golf Course Housing Project
with Rural Neighborhoods, Inc., and Renaissance Hall at Old Course, LLC.
Meeting Date: 06/25/2024
Prepared by:
Title: Legal Assistant – County Attorney's Office
Name: Wanda Rodriguez
03/06/2024 2:39 PM
Submitted by:
Title: Commissioner District 3 – Board of County Commissioners
Name: Burt Saunders
03/06/2024 2:39 PM
Approved By:
Review:
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 06/14/2024 9:19 AM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 06/17/2024 9:22 AM
Office of Management and Budget Agnieszka Chudy OMB Reviewer Completed 06/17/2024 11:17 AM
County Manager's Office Amy Patterson Level 4 County Manager Review Completed 06/19/2024 10:53 AM
Board of County Commissioners Geoffrey Willig Meeting Pending 06/25/2024 9:00 AM
10.A
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