Resolution 1986-104 -t, •soox 095 PAGE 55
"` 7 '"_ti; . June 10, 1986
RESOLUTION NO. 86- 104
RESOLUTION COMMITTING LOAN REPAYMENT TO BE
UTILIZED SOLELY FOR ELIGIBLE COM1MUNITY
DEVELOPMENT BLOCK GRANT ACTIVITIES ON LOW
INCOME HOUSING WITHIN COLLIER COUNTY.
WHEREAS, Collier County's 1983 Community Development Block Grnnt
' was entered into Agreement with the Florida Department of Community
Affairs as Contract number 84LG-53-09-21-01-H34; and,
' WHEREAS, one of the contracted services required the rehabilitation
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�' of 96 dwellings; and .
e:, s WHEREAS, rehabilitation of the 96 units comprised two work phases,
r that of a multi-family apartment building and that of single-family
`-L structures; and,
``' WHEREAS, Phase I involved the rehabilitation of eleven single family
i$ 1* :, '� residential units and one commercial unit as Collier County's original. .
3�� Y` intent;, and, ). ,
WHEREAS, a loan by Collier County was made to the owners of the
property to be rehabilitated during Phase I; and,
4 - WHEREAS, the Promissory Note is secured by a Mortgage duly filed in
Official Record Book 001127, Page 001924 of the Public Records of
.
Collier County, Florida (Mortgagees Mr. Crawford and wife; Mr. Moody and
;;% wife); and,
WHEREAS, said loan to Messrs. Crawford and Moody is in the amount
of $190,000 to be repaid to Collier County in annual inetallmente
beginning September 1985 and with the last payment due and payable on
September 30, 2013 if not sooner paid; and,
WHEREAS, inspection by, the architect of the units and initial
rehabilitation efforts demonstrated that rehabilitation of the Phase I
structures was not feasible; and, .
WHEREAS, it was determined that new construction would produce a
higher quality unit at approximately the same cost; and,
WHEREAS, the newly constructed units constitute Finding number 4 of
the Florida Department of Community Affairs Monitoring Report dated
October 21, 1985; and,
•
Jame 1Q, 1986
,
WHEREAS, extensive and c•.-ncerted staff and consultant efforts have
been devoted to resolving and clearing this Finding; and,
WHEREAS, the Florida Department of Community Affairs through their
e
letter of May 22, 1986 has given official notice that the state will
clear this Finding provided the County assures the Department that the
repayment of the loan on these units will be utilized for an eligible
CDBG activity with funds being expended on low income housing within
' Collier County; and
WHEREAS, it is in the County's interest to clear this finding, and,
WHEREAS, a "revolving-fund" utilizing loan repayments to fund other
eligible CDBG activities is common and desirable; and, J
WHEREAS, low income housing is sorely needed within Collier County;
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners ,
of Collier County, Florida, that loan repayments from Messrs. Crawford
and Moody, totaling ;190,000 will be u;iliaed only for eligible CPB
' t, activities with funds expended on low-income housing within Collier
County.
This Resolution adopted after motion, second and roll call vote as •, ,,
follows: • ,'t, ,
• Commissioner Goodnight - Motioned and aye
Commiseioner yes - Seconded and aye ''^
. Commissioner Hasse - Aye + :
Commissioner Holland - Absent and not voting ' ;
„`•,f..:;;.. Commissioner Pistor - Aye
r y
4, , Sir k -� i
..c.:,:,:.,,,. DATE: June 10. 1986 *1`'" ' ;'• BOARD OF COUNTY COMMISSIONERS . , x,
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C LES, -6 E e. J.HN A. PISTOR, CHAIRMAN a ••'''`
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6DOK 095�,,5 57
Kenneth B. Cuyl•
'. +81 ; ?`Collier County ttorney .,.
'
Loan Repayment Resolution „