§ 42-26. Minimum disposition standards and procedures to be used by Collier County in selling and conveying neighborhood stabilization program real property.

(a)

Housing and Human Services will maintain a list of Neighborhood Stabilization Program residential properties available for sale or rental to income qualified persons or household, a list of residential properties actively being rehabilitated, and an estimated availability date for all Neighborhood Stabilization Program residential properties.

(b)

Housing and Human Services will market the available residential properties through a variety of public and private resources including, but not limited to, newspaper advertisement, Collier County's government website, social networking internet websites, Collier County TV, housing expos, or any other available resource.

(c)

Housing and Human Services shall provide reasonable public notice of the intent to consider final disposition of Neighborhood Stabilization Program residential properties. Such notice shall be presented as an item on the Board of County Commissioners consent agenda.

(d)

All persons interested in purchasing a residential property assisted under the Neighborhood Stabilization Program shall be pre-qualified by Housing and Human Services. Furthermore, Housing and Human Services will maintain a list of potential purchasers, arranged in chronological order of qualification.

(e)

Purchasers of residential property assisted under the Neighborhood Stabilization Program must have a household income not greater than 120 percent of the local area median income (Naples-Marco Island metropolitan statistical area).

(f)

Applicants will be served on a first-come, first-served basis once eligibility and readiness to purchase has been established.

(g)

The maximum sales price for a property is determined by aggregating all costs of acquisition, rehabilitation, and redevelopment (including related activity delivery costs, which generally may include, among other items, costs related to the sale of the property). In accordance with federal regulations, no residential property assisted under the Neighborhood Stabilization Program may be sold for more than the sum of the aforementioned costs.

(h)

Applicants must obtain a first mortgage, as needed, conforming to the loan conditions and requirements as determined by Housing and Human Services.

(i)

Upon determination of a proposed conveyance, Real Property Management will prepare a "As-Is" Contract For Sale And Purchase incorporating all details of the transaction. Each "As-Is" Contract For Sale And Purchase shall be approved by the Director of Housing and Human Services, or his/her designee, and by the County Attorney's Office for form and legal sufficiency. Shall approval shall be made prior to execution of said contract.

(j)

Purchasers shall be responsible for all closing costs involved in any property transfer, and the "As-Is" Contract For Sale And Purchase will reflect this provision.

(k)

Following appropriate approval, Real Property Management shall supervise the execution of the "As-Is" Contract For Sale And Purchase. Purchasers must provide at least One Thousand and 00/100 Dollars ($1,000.00) earnest money deposit at the time of purchaser's execution of the "As-Is" Contract For Sale And Purchase.

(l)

Earnest money deposits will be held by the title company selected by Real Property Management to assist in the closing of each individual transaction. Any title company selected shall be a County-approved vendor.

(m)

Real Property Management will prepare and/or review all documentation required for the closing of transfer transactions, and will coordinate with the County Attorney's Office to obtain approval of all documents for form and legal sufficiency. Real Property Management will obtain proper execution of all documents.

(n)

The Chairman of the Board of County Commissioners is authorized to execute "As-Is" Contracts For Sale And Purchase, Statutory Deeds, and any and all other documents necessary for the transfer of residential properties in accordance with the Neighborhood Stabilization Program Administrative Plan.

(o)

Real Property Management will coordinate with the title companies and/or closing agents to assure proper closing of all transfer transactions, and will deliver closing proceeds as Housing and Human Services shall direct.

(p)

Proceeds from the transfer of properties are considered program income as described in the Neighborhood Stabilization Program Administrative Plan.

(q)

If a property is transferred to a non-profit provider of affordable housing and subsequently rented, the maximum affordable rent shall not exceed the Fair Market Rents as published annually by the United States Department of Housing and Urban Development for the Naples-Marco Island metropolitan statistical area. Any revenue in excess of allowable costs shall be returned to Collier County as program income.

(r)

Collier County shall comply with Collier County development codes and any applicable zoning ordinance(s) when disposing of Neighborhood Stabilization Program residential properties.

(s)

Neighborhood Stabilization Program residential property may be sold or conveyed to qualified non-profit organizations for reduced or no monetary consideration if it is determined that the organization can serve the rental or homeownership needs of qualified persons or households. Any such transfer must be approved by the Board of County Commissioners.

(t)

The provisions contained herein are the minimum disposition standards and procedures to be used by Collier County in selling and conveying Neighborhood Stabilization Program real property. The provisions may be further implemented by the Neighborhood Stabilization Program Administrative Plan, as amended, and approved by the Board of County Commissioners.

(u)

Housing and Human Services will maintain copies of all Neighborhood Stabilization Program documents that are required to be maintained.

(Ord. No. 2009-63, § 1)