CARVER HEIGHTS/MONTCLAIR AREA

COMMUNITY RECEVELOPMENT AGENCY

Item No: 3A.

Meeting Date: December 17, 2012

From: Ken Thomas, Housing and Economic Development Director

Subject: Resolution authorizing purchase of property at 2142 Woodland Boulevard, Leesburg, Florida for the purpose of providing affordable housing consistent with the Neighborhood Stabilization Program 3 (NSP3)

Staff Recommendation:

Staff recommends approval of the contract to purchase a single family home at 2142 Woodland Boulevard for the purpose of providing affordable housing.

Analysis:

The City of Leesburg and Lake County Government signed an agreement on July 9, 2012 regarding the NSP3 to purchase two single family homes in the designated NSP3 targeted areas which includes Carver Heights. The agreement provides the City with $80,000 to acquire two homes, $20,000 to fund any rehabilitation of the single family units and $5,000 total for any soft costs associated with the acquisition and rehabilitation of each home.

Therefore, acquisition of the subject property is consistent with the NSP 3 and our intent to provide affordable housing in Leesburg. A home inspection has been completed and identifies no major improvements were warranted.

Options:

1. Approve the purchase of the single family home; or

2. Such alternative action as the CRA Board may deem appropriate

Fiscal Impact:

The Carver Heights CRA will pay fifty-percent of the acquisition cost which is twenty-two thousand five hundred dollars ($22,500) and Lake County NSP3 will pay the remaining acquisition cost.

Submission Date and Time: 12/13/2012 10:21 AM____

Department: ______________________ Prepared by: ______________________ Attachments: Yes____ No ______ Advertised: ____Not Required ______ Dates: __________________________ Attorney Review : Yes___ No ____ _________________________________ Revised 6/10/04

Reviewed by: Dept. Head ________ Finance Dept. __________________ Deputy C.M. ___________________ Submitted by: City Manager ___________________

Account No. _017-6190-559-6110___ Project No. __170INV__________ WF No. ___817619/1___________ Budget __262,882.00___________ Available _ 254,497.00__________

RESOLUTION NO._______________

RESOLUTION OF THE CARVER HEIGHTS/MONTCLAIR AREA COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING THE CHAIRMAN AND THE SECRETARY/CITY CLERK TO EXECUTE A CONTRACT TO PURCHASE PROPERTY LOCATED AT 2142 WOODLAND BOULEVARD FOR THE PURPOSE OF PROVIDING AFFORDABLE HOUSINGCONSISTENT WITH THE NEIGHBORHOOD STABILIZATION PROGRAM; AND PROVIDING AN EFFECTIVE DATE.

BE IT RESOLVED BY THE CARVER HEIGHTS COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LEESBURG, FLORIDA:

THAT the Chairman and City Clerk are hereby authorized to execute an agreement with CB Florida RRE Holdings LLC whose address is 5310 East SR 64, Bradenton, Florida 34208 to purchase property located at 2142 Woodland Boulevard, Leesburg.

THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the Carver Heights Community Redevelopment Agency of the City of Leesburg, Florida, at a regular meeting held the 17th day of December, 2012.

____________________________________

Chairperson

ATTEST:

____________________________________

Secretary/City Clerk