Approved Agreements and Contracts 2025/06/24 Workforce Housing Restrictive Covenant 313 Orchard

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                                                                              L0kS-~SO CL)

                                              CITY OF


                                = Wy & MUSKEGON
                          Agenda Item Review Form
                         Muskegon City Commission

Commission Meeting Date: June 24, 2025              Title: Workforce Housing Restrictive Covenant,
                                                     313 Orchard Duplex/ADU Project


Submitted by: Jake Eckholm, Development              Department: Economic Development
Services Director


Brief Summary:
JEB Group, with builder Derek Sjaarda, is requesting a housing tax exemption for the new construction
infill of a duplex and ADU on 1 lot in the Angell neighborhood.

Detailed Summary & Background:
Mr. Sjaarda has been working with Development Services Staff and leadership in order to facilitate
new construction rental housing in the city of Muskegon. These proposed lots will be utilized for 1 2
story duplex with an accessory dwelling unit behind each for a total of 3 housing units. In this case
Sjaarda Homes is acting as the owner's representative and builder for the JEB Group, a small family
owned property investment company. They are proposing that all units be subject to the proposed
PILOT, which will reserve them for only households under 120% of the Area Median Income (AMI) for
Muskegon County. The duplex units are 3 bedroom, 2 bathroom and the ADU is 1 bedroom, |
bathroom.


This restrictive covenant establishes the terms by which the city has agreed to authorize a PILOT as
opposed to ad valorem property taxes for these parcels. It is to be attached to an affidavit the
developer must submit to MSHDA to prove they have local approval for the project and to their
commitment to reserving these units for households within the MSHDA income thresholds.

Goal/Focus Area/Action Item Addressed:

Key Focus Areas:
Diverse housing types
Retain youth within the city
Progress toward completion of ongoing economic development projects

Goal/Action Item:
2027 Goal 2: Economic Development Housing and Business

Amount Requested:                                    Budgeted Item:
NA                                                    Yes           No           N/A | |
Fund(s) or Account(s):                               Budget Amendment Needed:
NA                                                    Yes           No           N/A | |
                          WORKFORCE HOUSING RESTRICTIVE COVENANT
                                                           2025-50(L)


              This Workforce Housing Restrictive Covenant (“Restrictive Covenant”) is made by and between
      the City of Muskegon, Michigan (“Municipality”) and JEB Group, LLC, a Michigan limited liability
       company, presently of Holland MI 49424 (the “Sponsor”) as of June 24th, 2025.

                                                     RECITALS:


            - A,    Sponsor is the owner of certain real property located in the City of Muskegon, County
       of Muskegon, State of Michigan, and more particularly described on the attached Exhibit A (the
       “Property”), which is attached hereto and incorporated by reference into this Agreement.

              B.      Sponsor has offered to provide three “Workforce housing” units as defined by MCL
       125.1415a(10)(d) on the Property (the “Project”) and has applied to Municipality for a workforce housing
       exemption from ad valorem property taxes under Section 15a of the State Housing Development Authority
       Act, being Public Act 346 of 1966, as amended (the “Act”).

                C.      In consideration of Sponsor’s offer to undertake the Project, Municipality has agreed to
       exempt the Property from all ad valorem property taxes imposed by any taxing jurisdiction and to accept
       in lieu thereof payment of an annual service charge for a period of 15-years as provided by Chapter 82 of
       the City Code of Ordinances, as amended (the “Ordinance”).

               D.       Upon completion of the Project, the annual service charge paid in lieu of all ad valorem
       property taxes shall be equal to ten percent (10%) of the annual shelter rents collected from the Project and
       shall be paid as provided in the Ordinance.

               E,       Sponsor and Municipality agree that the economic feasibility of the Project depends upon
       the continuing effect of the annual service charge in lieu of all ad valorem taxes approved by Municipality
       for the 15-year exemption period.

               F,       Accordingly, upon recording with the Muskegon County Register of Deeds, this Restrictive
        Covenant will restrict use of the Property to Workforce housing for the 15-year exemption period.

                NOW, THEREFORE, in consideration of Municipality’s acceptance of payment of the annual
        service charge in lieu of all ad valorem property taxes and Sponsor’s commitment to construct or rehabilitate
        the Project, Sponsor and Municipality hereby covenant as follows:

                1.       Recitals. The above recitals are acknowledged as true and correct and are incorporated by
        reference into this paragraph.                             ,




DPRECTED
                         WORKFORCE HOUSING RESTRICTIVE COVENANT
                                                          2025-50(L)


              This Workforce Housing Restrictive Covenant (“Restrictive Covenant”) is made by and between
      the City of Muskegon, Michigan (“Municipality”) and JEB Group, LLC, a Michigan limited liability
      company, presently of Holland MI 49424 (the “Sponsor”) as of June 24th, 2025.

                                                    RECITALS:


              A.      Sponsor is the owner of certain real property located in the City of Muskegon, County
      of Muskegon, State of Michigan, and more particularly described on the attached Exhibit A (the
      “Property”), which is attached hereto and incorporated by reference into this Agreement.

              B.      Sponsor has offered to provide nine “Workforce housing” units as defined by MCL
      125.1415a(10)(d) on the Property (the “Project”) and has applied to Municipality for a workforce housing
      exemption from ad valorem property taxes under Section 15a of the State Housing Development Authority
      Act, being Public Act 346 of 1966, as amended (the “Act”).

               C.      In consideration of Sponsor’s offer to undertake the Project, Municipality has agreed to
      exempt the Property from all ad valorem property taxes imposed by any taxing jurisdiction and to accept
      in lieu thereof payment of an annual service charge for a period of 15-years as provided by Chapter 82 of
      the City Code of Ordinances, as amended (the “Ordinance”).

              D.       Upon completion of the Project, the annual service charge paid in lieu of all ad valorem
      property taxes shall be equal to ten percent (10%) of the annual shelter rents collected from the Project and
      shall be paid as provided in the Ordinance.

              E.      Sponsor and Municipality agree that the economic feasibility of the Project depends upon
      the continuing effect of the annual service charge in lieu of all ad valorem taxes approved by Municipality
       for the 15-year exemption period.

              FE,      Accordingly, upon recording with the Muskegon County Register of Deeds, this Restrictive
       Covenant will restrict use of the Property to Workforce housing for the 15-year exemption period.

               NOW, THEREFORE, in consideration of Municipality’s acceptance of payment of the annual
       service charge in lieu of all ad valorem property taxes and Sponsor’s commitment to construct or rehabilitate
       the Project, Sponsor and Municipality hereby covenant as follows:

               1.      Recitals. The above recitals are acknowledged as true and correct and are incorporated by
       reference into this paragraph.




ORLEINAL
        2.      Definitions. All words and phrases used in this Restrictive Covenant have the same
meaning as defined in the Act or the Ordinance.

        3.       Workforce Housing Covenant. The Project will, upon completion of the proposed
construction or rehabilitation, constitute workforce housing for households for persons and families whose
household income is not greater than 120% of the area median income, as published by the Michigan State
Housing Development Authority (“the Authority) for Muskegon County, adjusted for family size. All of
the housing units in the Project will be rented, or available for rental, on a continuous basis to members of
the general public throughout the term of this Restrictive Covenant.

        4.      Term of Exemption. The exemption from ad valorem property taxes approved by
Municipality shall remain in effect in accordance with this Restrictive Covenant restricting use of the Project
to workforce housing for a period of 15-years, ending on December 31, 2040, or so long as the Project is
used as workforce housing, whichever is less.

         5.       No Violation. Sponsor agrees that it will not knowingly take or permit any action that
would result in a violation of the requirements of this Restrictive Covenant or the Ordinance, which is
incorporated herein as if a part of this Restrictive Covenant. Further, Sponsor agrees to take any required
action, including the amendment of this Restrictive Covenant, as may be necessary, in the determination of
the Municipality or of the Authority, to comply with the Ordinance. If Municipality determines that the
Project is not in compliance with the requirements of this Restrictive Covenant, and Sponsor, after receiving
written notice of the non-compliance from Municipality, does not correct such non-compliance within thirty
(30) days, Municipality shall be entitled to take such actions as it deems necessary to enforce the provisions
of this Restrictive Covenant.

         6.       Sponsor to Demonstrate Compliance. Sponsor will provide Municipality with such
certifications, reports and other information as are required by Municipality to demonstrate compliance
with the Ordinance. Sponsor will provide Municipality and Authority with an annual verification of
 compliance with this Restrictive Covenant, in a form specified by the Authority.

          7,      Transfer of Ownership. Sponsor will, prior to a sale or other voluntary transfer of
 ownership of the Project or any part thereof, notify Municipality in writing, and will enter into any
 agreements with the purchaser or transferee as may be prescribed by Municipality to ensure such purchaser's
 or transferee's compliance with this Restrictive Covenant and Michigan law.

        8.     Enforceability. This Restrictive Covenant is enforceable in any court in the State of
 Michigan having jurisdiction thereof, by Municipality, and to the extent required by the Ordinance, by any
 individuals who are tenants of the Project.

          9.      Covenant Running with the Land; Binding Effect. The foregoing covenant shall
 constitute and be enforced as a covenant running with the land under Michigan law and shall be binding on
 all successors or assigns of Sponsor or Municipality and any future owner or operator of the Project for the
 full 15-year exemption period.



          10.    Miscellaneous. In the event of any conflict between the terms of this Restrictive Covenant
 and the requirements of the Ordinance the requirements of the Ordinance shall prevail. This Restrictive
 Covenant may only be amended or terminated by a writing signed by both Sponsor and Municipality. The
 invalidity of any clause or provision of this Restrictive Covenant shall not affect the validity of the
 remaining portions thereof.
IN WITNESS WHEREOEF, is this Covenant is effective as of December 1st, 2025.

                             [Signature Pages Follow]
                                               CITY OF MUSKEGON




                                               By: Tom Ynen —
                                               Its:       ct.         ISO7              Yor




STATE OF MICHIGAN              )
                               ) ss
COUNTY OF MUSKEGON _ )

       The foregoing instrument was acknowledged before me this day of June 24", 2025 by Kenneth
Johnson, as Mayor of the City of Muskegon, a municipal corporation of the State of Michigan.




                                               Lindo.      S. otter
                                               Notary Public, 7774s Kego          County, MI
                                               My Commission Expires:      “7 -.25~293 0
                                               Actingin #77 ash
                                                              re poe          County, MI
                                                  SPONSOR
                                                  JEB Group, LLC




                                                  Its:               Hovinga



STATE OF      MICHIGAN _ )
              OTTAWA              )ss
COUNTY OF MUSKEGON                )


The foregoing instrument was acknowledge d before me this Ls+ day of BY , by
Doseen Hyovinda, as the manager/aut   horized member of JEB Group, a Michigan limited liability
company, on behalf of said Company.

                       J FORTIN
             NOTARY PUBLIC,
                              STATE OF MICHIG
                                                         4Let}
             My commisSiang 20
                                             AN
                                                  Notary Public,           County, MI
             Acting in the County of“onan         My Commission Expires:
                              z                   Acting in                 County, MI


DRAFTED BY:




WHEN RECORDED RETURN TO:
                                         EXHIBIT A


                                 Legal Description of Property


      Legal Description: CITY OF MUSKEGON REVISED PLAT OF 1903 LOT 1, 17 AND EAST
8 FEET LOT 2 BLK 204
      Address: 313 ORCHARD AVE, MUSKEGON, MI 49442
      Parcel #: 61- 24-205-204-0001-00

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