Agenda Item Name:
Title
Settlement Agreement with Ability Housing regarding Dogwood Village Project
End
Presenter:
Michele Lieberman, County Manager, 352-374-5204
David Forziano, Senior Assistant County Attorney, 352-374-5218
Description:
Settlement Agreement with Ability Housing regarding Dogwood Village Project
Recommended Action:
Recommended Action
1. Approve the proposed Settlement Agreement and authorize the Chair to execute the Settlement Agreement and the Contract to Purchase Real Property attached as Exhibit 1 to the Settlement Agreement;
2. Authorize a budget amendment to fund this settlement according to the funding source(s) determined by the Board, including the cost of performing due diligence and associated closing costs;
3. Authorize the expenditure of funds to perform due diligence as provided in the Contract to Purchase Real Property;
4. Authorize the County Manager to issue notices of Title Defect(s) or Environmental Defect to the Seller if any are discovered during the due diligence period; and
5. Authorize the County Manager to execute all documents necessary to close the purchase of the Dogwood Village property on behalf of the County.
End
Prior Board Motions:
On September 20, 2020, the Alachua County Board of County Commissioners ("Board" or "BOCC") approved a $230,000.00 funding match for an applicant to be determined that received approval under the State of Florida's State Apartment Incentive Loan Program ("SAIL"), with the release of loan funding contingent on the applicant executing the appropriate loan and other documentation required by the County. The Alachua County Housing Finance Authority would match the County's $230,000 in support of the applicant's Low-Income Housing Tax Credit ("LIHTC") application, for a total funding loan amount of $460,000.
On September 13, 2022, the Board voted to request that Florida Housing Finance Corporation ("FHFC") allow Ability to relocate its Dogwood Village Project to another locati...
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