SUBJECT
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Authorize the sale of County owned properties located at 12 Cedar Street and 16 Cedar Street in Haines City to income eligible buyers for the purpose of promoting affordable housing. (No fiscal impact)
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DESCRIPTION
The County acquired Parcel ID Numbers 272729-783000-094230/094220 through an Escheatment Tax Deed dated October 13, 2021 which was subsequently recorded in O.R. Book 11936, at Page 248. The parcels, located at 12 Cedar Street and 16 Cedar Street, respectively, were vacant, platted, residential lots in Haines City. The properties were reviewed by the County's Housing and Neighborhood Development section ("HND") and determined to be suitable for its affordable housing initiatives. A Quiet Title action was completed for both properties in an effort to make the title to the properties more marketable for affordable programs. Due to rising costs and current workload constraints associated with existing affordable housing partners, the County constructed three-bedroom, two-bathroom, concrete block single family residences containing approximately 1,425 square feet, utilizing affordable housing grant funds, on each of the properties with the intent to sell the homes to qualifying income eligible buyers once completed.
It is requested that the properties be sold to buyers who meet eligibility requirements set forth by HND who qualify for a first mortgage as well as down payment and closing cost assistance. The properties are proposed to be sold on a first qualified basis, utilizing a standard Florida FAR/BAR contract, for the following purchase amounts which are equal to the construction, and associated, costs for the residences:
- 12 Cedar Street, Haines City, FL 33844 - $194,900
- 16 Cedar Street, Haines City, FL 33844 - $193,989
Closing costs associated with the sale of the properties will be negotiated as part of the contracts but will not exceed $6,000 and will be deducted from the proceed at closing. Additionally, closing cost a...
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