LESS THAN FEE PROGRAM –
Do you happen to own both a lovely house and the vacant lot right next door in Monroe County?
We’ve got some great news that might pique your interest – say hello to the County Commission’s “Less than Fee” Program!
So what is the “Less than Fee Program (LTF)?
The LTF program is a voluntary seller program that enables you to sell off the entitlement to construct a home or any habitable structure on your adjacent lot indefinitely to the county. In doing so you will be able to maintain ownership of your neighboring vacant lot and utilizing it for permissible accessory purposes only. These uses include a pool or shed.
Why did the County bring forth this program, you ask?
Well, it all boils down to state and federal regulations. You see, the Monroe County Board of County Commissioners finds itself with a restricted number of residential building permits to hand out. These permits are like gold nuggets for folks wanting to construct houses on vacant lots. The commissioners established the voluntary “Less than Fee” Program with the intention of retiring building rights.
If you’re eligible, the County extends an offer your way. This offer mirrors the most recent Certified Value – Market Land Value (MLV), up to $99,999. In return, you bid adieu to building a home or habitation on your vacant lot, forever.
Four-step journey:
- Submit your Less than Fee application.
- The County evaluates your property for eligibility.
- If you make the cut, an agreement arrives, and a title search takes the stage.
- The County Commission gives their nod, and voila! The deed restriction is etched into history.
The County takes care of title search and recording fees, while you might need to team up with your mortgage company. As for your representative, if you appoint one, their fees are on you.
Keep in mind there’s a waitlist and limited funds, so patience is key.
So, dear landowners, if this opportunity appeals to you, don’t hesitate to explore the County’s “Less than Fee” Program and add a new chapter to your homeownership journey.
Resources
Contact:
Paunece “Neecie” Scull
305-295-5180.
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Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.
Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.
