HomeMy WebLinkAbout3087 ORDINANCE NO. 3087
AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA, ENDING
THE CITY CODE TO PROVIDE AN AFFORDABLE HOUSING EXTENDED
PAYMENT ALTERNATIVE FOR CITY IMPACT FEES; PROVIDING
APPLICATION PROCEDURES; AUTHORIZING THE CITY COMMISSION
TO APPROVE RESIDENTIAL DEVELOPMENTS FOR PARTICIPATION IN
THE AFFORDABLE HOUSING EXTENDED PAYMENT ALTERNATIVE FOR
CITY IMPACT FEES; DEFINING QUALIFIED AFFORDABLE HOUSING
BUYER; AUTHORIZING CITY EAGER TO ENTER INTO EXTENDED
PAYMENT AGREEMENTS WITH QUALIFIED AFFORDABLE HOUSING
BUYERS; PROVIDING EXTENDED PAYMENTS OF CITY IMPACT FEES
FOR QUALIFIED AFFORDABLE HOUSING BUYERS; PROVIDING FOR
COLLECTION OF DELINQUENT FEES, THE FILING OF A CLAIM OF
LIEN, FORECLOSURE; PROVIDING FOR CODIFICATION,
SEVERABILITY, CONFLICTS AND EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Sanford, Florida,
recognizes the characteristics Of the local housing market and the shortage
of affordable housing; and,
WHEREAS, the City Commission of the City of Sanford, Florida,
desires to encourage the development of affordable housing within the City
of Sanford to meet the housing needs of very low income, low income, and
moderate income families and individuals; and,
WHEREAS, an affordable housing extended payment alternative for
city Impact Fees will allow more very low income, low income, and moderate
income families and individuals to qualify for the purchase of a home within
the City of Sanford.
NOW THEREFORE, BE IT ENACTED BY THE PEOPLE OF THE CITY OF SANFORE,
FLORIDA:
SECTION 1: That Chapter 18 1/2, Article IV, of the City Code is
hereby created to read as follows:
Article IV. Affordable Housing Extended Payment
Alternative For City Impact Fees.
A. Subject to an availability of funds, the city may
enter into agreements to extend payment of City Impact
Fees over a period not to exceed ten years with
qualified affordable housing buyers of residential
property located within the City of Sanford. Prior to
the City entering into any agreements to extend payment
of City Impact Fees and from time to time thereafter,
the City Commission shall identify a specific source of
funds to be used relative to providing initial payment
of the City Impact Fee by the City, the cost of such
funds, including all expenses or costs incidental to
obtaining or providing same, the interest rate that the
City will employ in offering extended payment with
interest and a reasonable estimation or description of
the administrative costs or expenses associated with
administering the extended payment alternative.
B. Any developer of residential property seeking to
participate in the Affordable Housing Extended Payment
Alternative for City Impact Fees shall file with the
City Manager an application for participation in the
Affordable Housing Extended Payment Alternative. The
application for participation in the Affordable Housing
Extended Payment Alternative shall contain, but not be
limited to, the following:
1. The name and address of the developer;
2. The legal description of the residential
development;
3. A description of the size, number and type of
homes in the residential development; and
4. The proposed selling price of the homes in the
residential development.
The developer's application shall be submitted to the
City Commission for formal approval of the residential
development's participation in the extended payment
alternative prior to any buyer participation in the
Affordable Housing Extended Payment Alternative.
C. Once a residential development has been approved for
participation in the Affordable Housing Extended Payment
Alternative, any buyer seeking to participate in the
Affordable Housing Extended Payment Alternative shall
file with the City Manager an application for extended
payment of City Impact Fees for the proposed purchase of
a residence in the approved development. The
Ordinance No. 3087
application for the Affordable Housing Extended Payment
Alternative shall contain, but not be limited to, the
following:
1. The name and address of the buyer;
2. The legal description of the property upon
which the residential development is located;
3. The proposed selling price of the
residential development.
4. Documentation that the total income of the
family unit does not exceed 80% of the median
income of the Orlando SMSA.
5. A copy of all loan applications prepared
by or on behalf of the buyer for purchase of
the residence.
6. Verification of employment and residency.
D. The following requirements shall be met for a buyer
to qualify for participation in the Extended Payment
Alternative:
1. The buyer shall have resided within the City
limits of the City of Sanford for at least one year
immediately prior to the time of submitting the
application to the City; and
2. The total income of the buyer's family unit
shall not exceed 80% of the median income of the Orlando
SMSA.
E. If the buyer meets the requirements for the
Affordable Housing Extended Payment Alternative and
specific funds are available for payment of the City
Impact Fees by the City, then the City may enter into an
agreement to extend payment of the City Impact Fees with
the qualified buyer. Said agreement shall be binding on
the qualified buyer, and any and all subsequent owners,
purchasers, successors in interest, and assigns.
F. With the exception of the City Commission's formal
approval of the residential development for
participation in the Extended Payment Alternative, the
City Commission hereby delegates to the City Manager the
power and authority to enter into Extended Payment
Agreements with qualified buyers in conformance with the
Ordinance No. 3087 --3--
provisions of this Ordinance. The agreement, and any
other associated documentation, shall be in a form
approved by the City Commission and acceptable to the
City Attorney and the agreement shall be recorded in the
Official Records of Seminole County. The City shall
place a lien on the real property to secure payment of
the City Impact Fees and any expenses associated with
providing the Extended Payment Alternative to the
qualified buyer.
G. The obligation for extended payment of City Impact
Fees and the benefits derived therefrom shall run with
the land.
H. After the City and the buyer have entered into an
agreement to extend payment of City Impact Fees, the
City shall pay into each appropriate city Impact Fee
trust account the amount due by the buyer for each City
Impact Fee.
I. The amount of the City Impact Fee payment made by
the City, including any title verification expenses,
recording fees, and a reasonable estimation of the cost
and expense associated with providing the extended
payment alternative, shall be paid to the City of
Sanford by the buyer in equal monthly payments with an
annual interest rate as determined and promulgated by
the City. The interest rate charged shall be
representative of the City's cost of funds, including
all expenses or costs incidental to obtaining or
providing same, if any.
J. The monthly payment discussed in subsection I,
above, shall be delinquent if, within thirty (30)
calendar days from the effective due date of the monthly
payment, the monthly payment has not been paid and
received by the City.
Ordinance No. 3087 --4--
All time periods contained within this Ordinance
shall be calculated on a calendar day basis, including
Sundays and legal holidays. In the event the due date
for the monthly payment falls on a sunday or legal
holiday, the last due date prior to becoming delinquent
shall be the next business day. Upon becoming
delinquent, the monthly payments shall bear interest at
the statutory rate for final judgments calculated on a
calendar day basis, until paid.
K. Should the monthly payments become delinquent as set
forth above, the City shall serve, by certified mail
return receipt requested, a notice of delinquency upon
the qualified buyer at the address appearing on the most
recent records maintained by the Property Appraiser Of
the County. The notice of delinquency shall serve to
notify the buyer that failure to pay the monthly payment
will cause the City to foreclose on its lien in the
Circuit Court of Seminole County.
L. Upon mailing of the notice of delinquency, without
further direction of the City Commission, City staff
shall proceed to expeditiously collect or otherwise
enforce said lien pursuant to the provision of this
Ordinance.
M. The City Clerk shall file a Notice of Satisfaction
of Claim of Lien with the clerk of the circuit court for
recording in the Official Records upon receipt of full
payment of all delinquent monthly payments, interest
due, and any recording expenses. Said Notice of
Satisfaction of Claim of Lien shall reflect the
appropriate recording information shown on the
previously recorded lien.
N. Upon re-sale or change in ownership of the property
at anytime before the full amount of the money due the
Ordinance No. 3087 --5--
City has been paid, the full amount of the money due the
City shall become due and payable. The new buyer may
apply for participation in the Extended Payment
Alternative and if the new buyer meets all the
qualifications of Subsection D, herein, the benefit of
the prior Extended Payment Agreement may pass through
entirely and on the same terms to the new buyer.
SECTION 2: Codification. That this Ordinance shall be codified
and made a part of the City Code of Ordinances.
SECTION 3: Severability. If any section or portion of a section
of this ordinance proves to be invalid, unlawful or unconstitutional it
shall not be held to impair the validity, force or effect of any other
section or part of a section of this ordinance.
SECTION 4: Conflicts. That all ordinances or parts of ordinances
in conflict herewith be and the same are hereby revoked.
SECTION 5: Effective Date. shall become effective immediately
upon its passage and adoption.
ATTEST: MAYOR ~
e C t ~o s~en of the
City ef sanford, ~lorida
~TIF~C~TE
certify that a true and correct copy of the foregoing Ordinance No. 3087, PASSED
AND ADOPTEDby the City Commission of the City of Sanford, Florida, on the llth
day of N~ember, 1991, was posted at the front door of the City Hall in the City
of Sanfor~, Florida, on the ~3th day of November, 1991.
IN WITNESS WHEREOF, I have hereunto set my hand and the official seal of
the City of Sanford, Florida, this 13th day of November, 1991.
N~y~/~j
Ordinance Clerk of the
__6__City of Sanford, Florida