Resolution 2003-125
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RESOLUTION NO. 2003- 125
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA
REQUESTING APPROVAL OF THE FLORIDA HOUSING
FINANCE CORPORA TION (FHFC) TO INCREASE THE
MAXIMUM HOME SALES PRICE FOR ALL FHFC
PROGRAMS IN COLLIER COUNTY.
WHEREAS, the Florida State Legislature enacted the William E. Sadowski
Affordable Housing Act on July 7, 1992 (the "Act"), Section 420.907, Florida Statutes, et
seq., which is implemented in Chapter 9 1-37, Florida Administrative Code, as a
comprehensive funding package for state and local housing programs to better enable
local governments to meet their responsibilities for providing affordable housing in
accordance with their comprehensive plans; and
WHEREAS, pursuant to the Act, the State will allocate a portion of new and
existing documentary stamp taxes on deeds to local governments for development and
maintenance of affordable housing; and
WHEREAS, through Resolution No. 2001-130 the Board of County
Commissioners adopted a three year Local Housing Assistance Plan outlining the
intended use of SHIP funds for fiscal years 2001-2002, 2002-2003, and 2003-2004; and
WHEREAS, the Act also requires the local government to adopt a maximum
award schedule, an average cost per unit, and a maximum cost per unit for eligible
housing benefiting from SHIP Awards; and
WHEREAS, the maximum cost per unit that has been previously set by the
Florida Housing Finance Corporation (FHFC) for housing benefiting from awards made
pursuant to FHFC programs shall not exceed $130,000 for existing and newly
constructed eligible housing units; and
WHEREAS, the average sales price of a home in Collier County has risen over
200% since 1993 and is now greater than $300,000 for a new single family home; and
WHEREAS, the FHFC has completed a study to determine 90% of each Florida
County's average home purchase price, and in Collier County that 90% of the average is
$276,263 for newly constructed units and $246,200 for existing units; and
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WHEREAS, the Act permits Florida Counties to set their maximum cost per unit
for housing benefiting from awards made pursuant to FHFC programs at up to and
including 900/0 of the average area purchase price; and
WHEREAS, it is in the best interest of Collier County to raise the maximum cost
per unit eligible to receive housing benefits from FHFC programs in Collier County in
order to be more in line with the current housing market and to assist a greater number of
households.
NOW THEREFORE, be it resolved by the Board of County Commissioners of
Collier County, Florida, that:
1. The Board of County Commissioners of Collier County hereby requests
that the maximum cost per unit for eligible housing that may benefit from awards made
pursuant to FHFC programs in Collier County be raised by the FHFC to $150,000 for
both existing and newly constructed eligible housing units.
2. This Resolution is intended to supercede Resolution 2001-130 and shall
take effect immediately upon its adoption.
This resolution adopted after motion, second, and majority vote favoring same.
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APPROVED AS, TO FORM AND LEGAL
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PATRICK G: WHITE
ASSISTANT COUNTY ATTORNEY
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY FLORIDA
By -;~N~~AN
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