Get AI Briefings, Transcripts & Alerts on Local & National Government Meetings — Forever.
Board approves waiver of right of first refusal to preserve workforce-housing covenants at Luma Del Rey
Summary
The county approved a staff-recommended waiver of the right of first refusal for 25 workforce-housing units at Luma Del Rey, after counsel said the lender will ensure the covenant restrictions survive in the event of foreclosure; staff indicated it will consider amending covenants to reduce future waivers.
Palm Beach County commissioners voted to waive the county’s right of first refusal on Luma Del Rey’s workforce-housing covenant after staff said the lender agreed to language that would allow the unit restrictions to survive a foreclosure.
Assistant County Attorney Darren told the board the request is similar to past waivers and involves a multifamily development with 25 workforce housing units. He said the lender requested that in exchange for a waiver of the county’s right of first refusal, the lender will agree to allow the covenant restrictions to remain in place if the property is foreclosed. Darren recommended approval and said staff is preparing to discuss potential covenant amendments to limit or eliminate routine waivers for future multifamily projects.
A motion to approve the waiver (moved by Commissioner Reno Marino and seconded by Vice Mayor Woodward) passed 6-0. The board thanked staff and counsel for their work, and staff indicated they will return in a future zoning meeting to seek direction on possible covenant changes.
The vote preserves the existing workforce-housing restrictions for the 25 units at Luma Del Rey while allowing the owner to refinance under agreed terms with the lender.
