Agenda 10/22/2024 Item #16D 5 (Authorize CHairman to sign one Release of Lien for an affordable Housing Density Bonus for a unit that is no lovger subject to the terms of the Agreement)10/22/2024
Item # 16.D.5
ID# 2024-1182
Executive Summary
Recommendation to authorize the chairman to sign one (1) Release of Lien for an Affordable Housing Density Bonus for
a unit that is no longer subject to the terms of the Agreement.
OBJECTIVE: To promote the County’s strategic objective of comprehensive affordable housing opportunities 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 a lien instrument subject to an AHDB Agreement lien encumbering their property in the
Botanical Place community. The AHDB Program seeks to provide an incentive to construct affordable housing units in
Collier County.
The Collier County Affordable Housing Density Lien Agreement states the following: "In the event that I, my heirs,
legal representatives, successors, or assigns sell the property (including the land and/or the unit) 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, 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”. The affordability period has exceeded the required 15
years, and no payment is due to Collier County.
The following table provides details regarding the associated Affordable Housing Density Bonus lien instrument that
has fulfilled the fifteen (15) year affordability period. As such, a release of lien is required.
Name Purchase
Date
Purchase
Price
Public Record Affordability
Period End Date
Payoff
Amount Due
Jessica McNulty
3/21/2006
$126,950.46
OR 4010/
PG 2405
3/21/2021
$0.00
FISCAL IMPACT: This item does not require a payoff. The Affordable Housing Trust Fund (1077), Project 50137,
will pay the recording fee.
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 as to form and legality and requires a majority vote for Board
approval. -CJS
RECOMMENDATIONS: To authorize the Chairman to sign one (1) release of lien for an Affordable Housing Density
Bonus unit that is no longer subject to the terms of the Agreement.
PREPARED BY: Michelle Rubbo, Grants Support Specialist II, Community and Human Services Division
ATTACHMENTS:
1. McNulty, Jessica-AHDB ROL Stamped
2. McNulty, Jessica AHDB Lien
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