Resolution 1998-228
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RF.SOI.LTIO:\ :\0. 98- ~
A RF.SOl.liTIOS OF TilE BOARD C)t' COl':\TY
CO~JMISSIO~F.RS. COI.l.IER COl:~TY. FI.ORIll..\
AlTIIORI7.I:\G TilE Df.FERR"'. OF J.JBR,\RY
SYSTDI mPACT FEES. PARKS A~D RECREATIO~,\l.
F,\CII.lTIES "'PACT FF.f.S. ROAD ('I PACT FEES.
WATER IMPA(.T FEES. SEWER IMPACT FEES.
DIERGE:\CY 'IEDlCAI. SERVICF.S "'PACT
FF.f.S. A:\D EDUCATIOSAI. FACII.ITIES SYSTDI
"1 PACT FEES FOR cOl.u:ca: PAllK AI'.\IrnIE:"TS.
A 210 l::"IT AFFORDABl.E RF.:>:TAI.1I0!'SI:\C;
PROJECT. A:\D SUBORll1:"ATIO:\ OF I.IE:\.
\\'HEREAS. Cllllicr County has rccogni/cO ami atlcmph.'U 10 ..dJr....ss Ill... la.:k of alll.'4uilh: ~LllLl
aITordank hOllsing for moueralc. 10\\. ami \"Cry In\\" income hllllschlllds 111 ("ullil..'r ('ounly and
the need for creative and innO\"ali\'c programs 10 assist in the pmnsinn of sm:h housing hy
including scn:ral prmisions in the Collier ("(lUlUy Growlh ~bl1agl.'nh:111 PI;U1. mcluc..ling:
ohjccti",,' I..J. Pl1licy 1..1.1. ohjccti\\.: 1.5. polic~' 1.5.2. ro1icy 1.5.3. pnll('~ 5.J. poltcy 1.5.5.
policy 1.5.6: ohjccl I A policy 1.(1.3: objcctin: 2.1. policy ~.I.1. poJit:~ ~. J.~. pnlicy :!.I..\.
policy 2.\ ,5. unl! polic)' 2.1.(, orthe Ihlu~ing Elcl11l:nt,: unl!
WHEREAS. ColIl,.~c Park Holdings. I.td. \\111 undertakc thl.: t.h:\dupllH..'nt Ill" Saxon
~i1anor Isles Apar1mcnt~, a two hundred ..nl! len (2111. unit ammlilhle n..'ntal htlUsing t..'(lI1UllUllit)'
on a sitc localed in Collier County, Floritla. or which Collc,gc Park Iloldings, Ltd. is oWllcr: and
WHERE..\S, on April ~IJ, IIJIJS,.m applicallon Wus filed wilh th\.' Collier County Housing
and L'rban ImprO\'cment Dcranmenl for the dderral or Collier Counly impact ll'cs Illr the
College Park Apartments consistcnt with Ihc requirt..'mcnls or Ihc Cnmlly imparl 1"':1: ordill.mcl's:
and
WIIERF:\S. in accordance wilh St..'Cllllll 3.-1 or Ihl." I.lhrar~ s~..l\.'1ll 1Il1p,Il'! h't..'
OnJinance. Ordirwllct..' :\0. ~S.1J7. as :I111cndt:lJ; Sl.:ctitlll .lllS of Ih\.. P<lrk.. ;lIld Rl.:t..'rt..'iUicJI1.t1
Fucilili\."s Impact Fcc Ordinance, On.Jimmce :\':0. SS.t}h. us amcndl:d; S\.'clioll .'.(J~ 01" Ihe Road
Impact Fcc Ordinance, Ordinance \:0. 92-11. as ul1lt..'l1t.led; ('oilier COUllty Onlillill1cC ~(l. lJl).foi(I,
as amended. the ("oilier County Water Sysrem Impacl'Fec Ordin..nce; Colli\.'r ("HlIll)' Ordinance
~o. 9fJ.,si. as ilJllt..'ndt..'d. the Collier County Sewer SYS[\."111 Impacl h':t,: ()rdjll;lnc\.'~ S...ction J.05
of Ih\.' El11crg\."ncy \lct.lical Services System Imp:lcl Fcc Ordinallt..'\.'. Ordin;IIIt:l' ~Il. 111_71. as
anH.:nt.leJ; ,uhl S\.'clinn 3.05 or Ih\.' Educ;;ation;,11 FllCilitit.:s SY~11.'1ll Impill"l F\.'\.' Ordin.II1t..'l.:,
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Ordinance No. 92-33. as amended, an applicant may obtain a deferral of one hundred percent
{ 100"~,) of impact fees for a period of six {6) years by qualifying for said dcfcmd: trod
WIt,~REAS. College Park Apartments has qualified for an impac! Ibc dt.'fcrral based
upon the following representations made by College I'ark Iloldings. I.Id.:
A. The Dwelling Unit shall he the permanent residence of the occupant tcnam.
B. The household renting the Dwelling I:nit must have a very low or Iow income level.
at the commencement of the leasehold and duration thereof, as that terTn is defined in
the Appendices to the respective Impact Fee Ordinances and the monthly rent must be
within the affordable housing guidelines established in the Appendices to the
respective Impact Fee Ordinances.
C. Thc Dwelling Unit shall remain affordable for at least Iii'teen fl 5~ years from Iht date
the certificate of occupancy was issued.
I. The Board of County Commissioners hereby authorized the deferral by ('oilier County of thc
following impact fees in the amounts listed below for thc lwo hundred and ICh {210~
affordable housing units to be developed by College Park tloldings. I,td. as idcntilicd in
Exhibit "A":
al Library System Impact Fees
b) Road Impact Fees
c~ Parks & Recreation Impact Fees
Community Parks 399.~'~)
Regional Parks 179.00
dl Emergency Services Impact Fees 2.00
c) Sev, cr Impacl Fees 1.3J, t~.O0
F) Water Impact Fees
gl School Impact Fees 827.00
TOTAl. A,MOU,NT IMPACT
FEES DEFERRED
~ 210 Units
$ 180.52 $ 37.~.~t~9.2t~
935.~ I
83.79fI.O¢~
37.59tLO0
420.00
73.670.O~}
:$,4,762.52 S !.000.129.20
2. A) In compliance with the provision of the Collier County impact fee ordinances, College
Park Holdings. ktd. has demonstrated to the County that a subordination of tile Cot,nty's rights,
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interests and lien is necessary to obtain financing for thc College Park Apartments. an aflbnlable
housing project consisting of two hundred and ten (210) multi-family dwclling units; and
B) in compliance with thc provisions of Ibc impact fcc ordinances, thc Ov,'ncr will dcli,.'er to
thc County substitute collateral in lire form of cash and a cash equivalent financiul
instrument payable to the County which together will yield to the County the full amoun!
of the deferred impact fees, i.e.. the sum of One Million and One tlundred and Twenty
Nine Dollars and 20/100 ($1,000,129.20) at the expiration of the period of the deferral,
Fcbruar-.' 15. 2005, i.e.. a United States Treasury Zero Coupon Bond which will matt,re
at thc end oftbc deferral period. Febn,ary 15. 2005. and. ttpon matt,rity, xv.uld yield an
amount equal to the amount of the deferred fees. County covenants and ;,grees that il
,,','ill not negotiate the bond unless and until the deferred impact fees beeomc duc and
payable pursuant to the terms of the Agreement for 1OO% Deferral of Collier County
Impact Fees and that all moneys received by negotiation of thc bond shall be ;,pplied to
the payment ofsaid deferred impact fee obligation owing by College Park }foldings. l.td.
('~ Thc County hereby covenants and consents and agrees that its rights, interests and lien
pursuant to the Agreement shall be subordinated to the lien of the Mortg;tgc and Security
Agreement ("Mortgage") and olhcr documents executed by O'.vnet in considen~tion
thcrcxvith from College Park Holdings. Ltd. to Florida Housing Finance Corpon~tion and
'['he Florida Affordable Housing Guarantee Program. or other primaD' lenders in thc
principal amount of up to Eleven Million Dollars ($1 I.OOO.O00). pitts accrued inlercsl
and all advances authorized under the provisions of such mortgages. 'l'he County will
execute such subordination agreements as may be reasonably rcqmred by said
mortgagees.
3. Deferral of said impact fees is suhjecl Io and contingent upon cxecuti{m ;.ind recordation
of an Agreement for Deferral of Collier Count>' impact Fees which shall bc cnlcrcd into
between tire applicant and County.
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This Rcsolulion adopted after motion, second and majority vole favoring same.
ATTEST:
Dwight E. Brock. Clerk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY. FLORIDA
Approved as to form and
legal sufficicncy:
~leidi F. Ashton '
Assistanl County Attorncy
jd'c:collegepark reso
EXHIBIT "A"
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LEGAL DESCRIPTION
College Pnrk Apartments
A PARCEL OF LAND LOCATED IN THE NORTHWEST
QUARTER OF SECTION 22, TOWNSHIP 50 SOUTtl,
RANGE 26 EAST, COLLIER COUNTY, FLORIDA; BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
THE WEST HALF OF THE NORTHWEST QUARTER OF
THE NORTHWEST QUARTER OF SECTION 22.
TOWNSHIP 50 SOUTH, R.4,NGE 26 EAST, COLLIER
COUNTY, FLORIDA, LESS THE NORTH 50.00 FEET FOR
THE PURPOSE OF ROAD RIGHT-OF-WAY,
CONTAINING 17.49 ACRES, MORE OR LESS.
Page 1 of 2
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AGREEMENT FOR 100% DEFERRAl, OF COLI,IER COUNTY IMPACT FEES
This Agreement for the Deferral of Impact Fees entered into this .~ ofT~t~
1998, by and betv,'een the Board of County Commissioners of Collier County, Florida~
hereinafter referred to as "COUNTY" and College Park Holdings, Ltd. hereinafter referred to as
"OWNER".
WHEREAS. Collier County Ordinance No. 88-97, as amended, the Collier County
Library System Impact Fee Ordinance; Collier County Ordinance No. 88-96, as amended, the
Collier County Parks and Recreational Facilities Impact Fee Ordinance; Collier County
Ordinance No. 91-71. as amended, the Collier County Emergency Medical Services System
Impact Fcc Ordinance; Collier County Ordinance No. 92-22, as amended, the Collier County
Road Impact Fcc Ordinance; Collier County Ordinance No. 9{)-86. as amended, the Collier
Count>' Water System Impact Fcc Ordinance; Collier county Ordinance No. 90-87. as amended,
the Collier county Sewer System Impact Fee Ordinance; and Collier County Ordinance No.
92-33, as amended, the Collier County Educational Facilities System Impact Fee Ordinance, as
they may be further amended from time to time hereinafter collectively referred to as "Impact
Fcc Ordinance", provide for deferrals of impact fees for nc,,',' owner-occupied dwelling units
qualifying as affordable housing; and
WHEREAS, TCG I, Inc. is the duly authorized general partner with Lloyd Boggio as
President; and
WHEREAS, Lloyd Boggio as President oi' TCG I, Inc. has applied for a deferral of
impact fees as required by the Impact Fee Ordinance, a copy of said application is on file in the
Housing and Urban Improvement Department; and
WHEREAS, the County Administrator or his designee has reviewed the OWNER's
application and has found that it complies with the requirements for an affordable housing
deferral; of impact fees as established in the Impact Fee Ordinance; and
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WHEREAS, the impact fee deferral shall be presented in lieu of payment of thc requisite
impact fees subject to satisfaction of all criteria in the Impact Fee Ordinance qualifying the
project as eligible for an impact fee deferral; and
WHEREAS, the COUNTY approved a deferral of impact fees in thc amount of One
Million and One Hundred and Twenty Nine Dollars and 52/I00 (S I ,000.129.20) for six years
from date of certificate of occupancy for College Park Apartments embodied in Resolution No.
98-.~ ao, at its regular meeting of ~t~z,~.~_ 025 , ,~ Y f and
WHEREAS, the Impact
Agreement with the COUNTY.
Fee Ordinance requires that thc OWNER enter into an
NOW, THEREFORE, in consideration of the foregoing recitals, the parties covenant and
agree as follows:
I. RECITALS INCORPORATED. The foregoing recitals are tn~e and correct and shall be
incorporated by reference herein.
2. LEGAL DESCRII:'TION. The legal description of the dwelling units (thc "Dwelling Unit")
and the site plan are attached hereto as Exhibit "A" and incorporated by reference herein.
3. TERM. OWNER agrees that thc Dwelling Unit shall remain affordable and shall be
offered for rent in accordance with the standards set forth in the appendix to the Impact Fee
Ordinance for a minimum of fifteen (15) years commencing from the date a certificate of
occupancy is issued for the Dwelling Unit.
REPRESENTATIONS AND WARRANTIES. OWNER represents and warrants the
following:
a) The Dwelling Unit shall be the permanent residence of the occupant/tenant.
b) The household renting the Dwelling Unit must have a very Iow or Iow income level, at
the commencement of the leasehold and duration thereof, as that term is defined in the
Appendices to the respective Impact Fee Ordinances and the monthly rent must be within
the affordable housing guidelines established in the Appendices to the respective Impact
Fee Ordinances.
(:2)
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c) The Dwelling Unit shall remain affordable for at least fifteen (! 5) years from the date the
certificate o f occupancy was issued.
SUBSEQUENT RENTAL OR TRANSFER. If OWNER rents thc Dwelling Unit subject to
the impact fee deferral to a subsequent renter, the Dwelling Unit shall be rented only to
households meeting the criteria set forth in the impact Fee Ordinance. The impact fees
deferred shall be immediately repaid to the COUNTY upon thc discontinuance of use of the
Dwelling Unit as affordable housing, or six years from thc date such impact fees arc deferred,
whichever occurs first. OWNER agrees that even though the impact fees have been repaid to
the COUNTY, the OWNER will utilize the Dwelling Unit for afibrdablc hot, sing for at least
fifteen (15) years from the date the certificate of occupancy was issued for the Dwelling Unit.
LIEN. The deferred impact fees shall be a lien upon the property which lien may be
foreclosed upon in the event of non-compliance with the requirements of this Agreement.
The COUNTY acknowledges and agrees that:
(a) In compliance with the provision of the Collier County Impact Fee Ordinances, OWNER
has demonstrated to the COUNTY that a subordination of the County's rights, interests
and lien is necessary to obtain financing for College Park Apartments, an affordable
housing project consisting oftwo hundred ten (210) units; and
(b) In compliance with the provisions of the Impact Fee Ordinances. tile OWNER will
deliver to the COUNTY substitute collateral in the form of cash and a cash eqt, ivalcnt
financial instrument payable to the County which together xvill yield to the COUNTY thc
full amount of the deferred impact fees, i.e., the sum of One Million and One Hundred
and Twenty Nine Dollars and 20/100 ($1,000,129.20) at the expiration o t'tlle period of the
deferral, February 15, 2005, i.e., a United States Treasury. Zero Coupon Bond which will
mature at thc end of the deferral period, February 15, 2005 and, upon maturity, would
yield an amount equal to the amount of the deferred fees. COUNTY covenants and
agrees that it will not negotiate the bond unless and until the deferred impact fees become
due and payable pursuant to this agreement and that all moneys received by negotiation
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of the bond shall bc applied to thc payment of said deferred impact fcc obligation owing
by College Park Holdings, Ltd.
(c) Thc County hereby covenants and consents and agrees that ils rights, interests and lien
pursuant to this agreement shall be subordinated to thc lien of thc Montage and Security
Agreement ("Momgagc") and other documents executed by ()WNILR in consideration
lhcrewith from College Park Holdings. Ltd. to Florida ttousing Finance ('oq~oration and
The Florida Affordable tiousing Guarantee Program, or other primary lenders in thc
principal amount of up to Eleven Million Dollars (S I l.~(l(l.~l~i~l, plus accrued interest and
all advances authorized under thc provisions of such mortgages. Thc C()UNTY will
execute such subordination agreements as may be reasonably rctluircd by said mo~gages.
7. ANNUAL REPOR'F. Annually. thc OWNER of the Dwelling Unit shall provide to the
County Administrator an affidavit of complim~cc with lhe atlbrdablc housing qualification
criteria and standards set foflh in the Impact Fcc Ordinance. Said affidavil must be filed
within thirty (30) days of the annivcrsa~ date of thc issuance of thc ccnificatc o1' occupancy.
If thc income of any unit renter which originally qualified as Iow income level as defined in
the respective Appendix to thc Impact Fee Ordinance increases by more than I~)~y pcrccnl
(40%) above the low income level described in the appendix, then thc per unit tlcfc~cd
impact fee on thc non-compliance unit shall become immediately duc and payable by
OWNER or. in thc alternative, thc O~VNER shall have ninety (9t3~ days ~o comply with thc
Affordablc ttousi ng guidelines set Ibnh in Iht rcspcclivc Appendices.
8. RELEASE OF LIEN. Upon satisfilcto~ completion of thc Agreement requirements, and
'N
upon payment of thc deleted impact fees, thc COb, Th shall, al Iht expense of the
COUNTY, record any necessa~ documentation, evidencing st~cl~ paymcnl, including bul not
limited to, a release of lien.
9. BINDING EFFECT. This Agreement shall be binding upon the parties to this Agreement,
their heirs, successors and assigns. In thc case of sale or transl~r by gift o1' thc Dwelling
Unit, the original OWNER shall remain liable for thc impact fees deferred until said impact
fees are paid in full.
lO. RECORDING. This Agreement shall be recorded by OWNER at thc expense of OWNER in
the Official Records of Collier County, Florida within sixty (60) days after execution of this
Agreement by the Chairman of the Board of C0unty Commissioners.
Ii. DEFAULT. OWNER shall be in default ofthis Agreement (i) where OWNER fails to rent
the property in accordance with thc affordable housing standards at~d qualification criteria
established in the Impact Fee Ordinance and thereafter fails to pay the impact fees duc within
thirty (30) days of notice of said non-compliance, or (2) where OWNER violates one of the
affordable housing qualification criteria in thc Impact Fee Ordinance for a period o1' fifteen
(15) days after notice of violation. However, with respect to the Annual Report, OWNER
shall not be in default of this Agreement until a fifteen (15) day grace period from thc due
date of the report has lapsed in the event the OWNER is in default.
12. REMEDIES. Should the OWNER of the property fail to comply with the said qualification
criteria at any time during the fifteen (15) year period or should OWNER violate any
provisions of this Agreement, the impact fees deferred shall be paid in full by OWNER
within thirty (30) days of said non-compliance. OWNER agrees that the impact fees deferred
shall constitute a lien on the property commencing on thc effective date of this agreement and
continuing until paid. Except as set forth in Section 6, such lien shall be superior and
paramount to the interest in the Dwelling Unit of any owner, lessee, tenant, mortgages, or
other person except the lien for County taxes and shall be on parity with the lien of any such
County taxes. Should the OWNER be in default of this Agreement and the default is not
cured within thirty (30) days after written notice to the OWNER, the Board may bring a civil
action to enforce the Agreement. In addition, the lien may be foreclosed or otherwise
enforced by the COUNTY by action or suit in equity as for the foreclosure of a mortgage on
real property. This remedy is cumulative with any other right or remedy available to the
COUNTY. Notwithstanding the foregoing, the COUNTY shall realize upon the collateral
5
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given to it by OWNER as described in Section 6c prior to exercising any rights to recover
against property. The Board shall be cntitlcd to recover all fees and costs, including
attorney's fees, plus interest at the statutory rate for judgments calculated on a calendar day
basis until paid.
IN WITNESS WHEREOF, the parties have executed this Agreement for deferral of Impact Fees
on the date and year first above written.
(2) Witnesses:
-7 i.
----_
Print Na~e /)/k,, 4' /~,;."//'.,
Print Name
OWNER:
COLLEGE PARK HOLDINGS. LTD.
By:
L! ~.~ Pre~
(CORPORATE SEAL)
DATED: ,~,,
ATTEST:
DWIGHT E. BROCK, Clerk
COUNTY:
BOARD OF COUNTY COMMISSIONERS
OF COLLIER COUNTY, FLORIDA
signature on 1.~.
Approved as to f(~rm and
legal sufficiency,
Heidi F. Ashton
Assistant County Attorney
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COUNTY OF ~,'~.,~,~
The foregoing tnstrument was acknowledged before me th~s ,~t' day of ~a~-~, ,
1998 by L!oydBoggio, President of TCG l, Inc., G4mcral Partnex-~f TRG !l~, ln~,--Gen~rat-
Partnerof Jeffrey Sharkey Consultants, General Partner of College Park Holdings, Ltd. on behalf
ofthe Partnership. He is personally knoxvn to me or has produced (type
of identification) as identification.
Signature of person taking acknowledgment
· f_~ ' ,t~.I ,~', "L..;, ,~-
Name of Acknowledger Typed, Printed or Stamped
j~c/college par~agreement II ~'- ~
EXHIBIT "A"
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LEGAL DESCRIPTION
College Park Apartments
A PARCEL OF LAND LOCATED IN THE NORTtlWEST
QUARTER OF SECTION 22, TOWNSHIP 50 SOUTII,
RANGE 26 EAST, COLLIER COUNTY, FLORIDA; BEING
MORE PARTICULARLY DESCRIBED AS FOLLOV¥S:
THE WEST HALF OF THE NORTHWEST QUARTER OF
THE NORTHWEST QUARTER OF SECTION 22.
TOWNSHIP 50 SOUTH, RANGE 26 EAST, COLLIER
COUNTY, FLORIDA, LESS TIlE NORTH 50.00 FEET FOR
TIlE PURPOSE OF ROAD RIGHT-OF-WAY,
CONTAINING 17.49 ACRES, MORE OR LESS.
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