Agenda 01/25/2011 Item #16D7
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1/25/2011 Item 16.D.7.
EXECUTIVE SUMMARY
Recommendation to approve a budget amendment recognizing $863,854.48 in revenue
generated in the form of program income when conveying properties acquired under the
Neighborhood Stabilization Program. (Fiscal impact $863,854.48)
,~OBJECT~~:::.~~~,~,R~~~amf@drnenttt1C9.&cnizjng,~6.l.~~4~~gkJ~@~~~~a.te,~..'"'-';:, ~---, "",-~..__-=
in.:..the" form~0f'pFot;n:i:lli-lnCi:)!ne~lli~n:::cfrnVe~pr{jpei1ies~eqaiFed=liiideiili&-NclthY,o~-'-""'~- ' , -
Stabilization Program.
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CONSIDERATIONS: On December 1, 2009, agenda item 17B, the Board of County
Commissioners adopted Ordinance No. 2009-63 to establish policies and procedures to be used
when selling and conveying real property acquired under the Neighborhood Stabilization
Program. The ordinance was necessary to ensure Collier County was in compliance with ~
125.35(3), Florida Statutes.
Collier County has used Neighborhood Stabilization Program funds to acquire and rehabilitate
foreclosed and abandoned properties. Once rehabilitation is complete, the homes are sold to
income qualified persons or families. Upon sale, the net proceeds are returned to Collier County
as program income to be used for other eligible Neighborhood Stabilization Program activities,
including administration. The following table details the revenue generated which requires a
budget amendment.
Pro erty Address
5501 17 Avenue SW, Naples, Florida 34116
282039" Avenue NE, Naples, FloIida 34120
256066 Avenue NE, Naples, Florida 34120
41414t Avenue NE, Na les, Florida 34120
204046 TelTace SW, Naples, Florida 34116
254050 1 Avenue NE, Naples, FloIida 34120
376529 Avenue NE, Naples, Florida 34120
781 Golden Gate Blvd, Na les, Florida 34120
362020 Avenue NE, Naples, Florida 34120
5360 19 Place SW, Naples, Florida 34116
3744 41st Avenue NE, Naples, Florida 34120
254047 Avenue NE, Na les, Florida 34120
TOTAL
Net Proceeds
$67,918.92
$80,500.45
$62,979.99
$68,934.03
$69,460.72
$71,418.92
$68,964.11
$88,423.51
$62,370.45
$68,180.45
$66,200.86
$88,502.07
$863,854.48
This revenue will be used in compliance with federal grant regulations and will fund items such
as the purchase of additional properties, electricity expenses, and the payment of builder's risk
msurance.
FISCAL IMPACT: A total of $863,854.48 will be recogrnz"ed as revenue for 'FYll iri Fund'
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1/25/2011 Item 16.0.7.
GROWTH MANAGEMENT IMP ACT: The Neighborhood Stabilization Program facilitates
the goals, objectives and policies set forth in the Housing Element of the Growth Management
Plan.
LEGAL CONSIDERATIONS: No legal issues are raised by this item which is ready for
Board action. This is a regular matter requiring simple majority vote. - JBW
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RECOMMENDATION: To approve a budget amendment recognizing $863,854.48 in revenue
generated in the form of program income when conveying properties acquired Wlder the
Neighborhood Stabilization Program.
PREPARED BY: Frank Ramsey, Housing Manager, Housing, Human and Veteran Services
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1/25/2011 Item 16.0.7.
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COLLIER COUNTY
Board of County Commissioners
Item Number: 16.0.7.
E,~ __, ~_~Ifem-.S~marvfc -~.~eG~en1fatin~wro;t3- ;;~f a~.~~~-~:mrln-1zinfF~~- ~~~~~=-~ ~~
' $863,854.48 in revenue generated in the form of program income when conveying properties
acquired under the Neighborhood Stabilization Program. (Fiscal impact $863,854.48)
Meeting Date: 1/25/2011
Prepared By
Name: RamseyFrank.
Title: VALUE MISSING
1/11/201110:06:20 AM
Submitted by
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Title: VALUE MISSING
Name: RamseyFrank.
1/11/201110:06:20 AM
Approved By
Name: KrumbineMarcy
Title: Director - Housing & Human Services,Housing, Human & Veteran Services
Date: 1/11/201111:10:50 AM
Name: A1onsoHailey
Title: Administrative Assistant,Domestic Animal Services
Date: 1/11/201111:24:41 AM
Name: RamseyMarla
Title: Administrator - Public Services,
Date; 14H/2011,-~:17:2iJ>M J _, _.
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Name: FoordMarlene
Title: Grant Development & Mgmt Coordinator, Grants
Date: 1/11/20113:31:21 PM
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Name: WhiteJennifer
Title: Assistant County Attorney,County Attorney
Date: 1/13/20114:15:09 PM
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Date: 1/14/20111:16:14PM
Name: PryorCheryl
Title: Management! Budget Analyst, Senior,Office of Management & Budget
Date: 1/14/2011 7:22:07 PM
Name: KlatzkowJeff
Title: County Attorney,
Date: 1/18/201111:22:03 AM
Narne:IsacksonMark
Title: Director-Corp financial and Mgmt Svs,CMO
Date: 1/18/20113:24:44 PM
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1/25/2011 Item 16.0.7.
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