Agenda Item Name:
Title
Alachua County Housing Finance Authority Board Appointments
End
Presenter:
Candie Nixon (352) 264-6717
Description:
Alachua County Housing Finance Authority (HFA) Board Appointments
Recommended Action:
Recommended Action
Approve three (3) appointments to HFA Board
End
Prior Board Motions:
Ordinance 81-07
Ordinance 99-025
Fiscal Consideration:
Fiscal Consideration
None
End
Background:
The Alachua County Housing Finance Authority (the "HFA") is a public body corporate and politic of the State of Florida, created in accordance with Chapter 159, Part IV, Florida Statutes (the "Act"). Pursuant to the Act, the Board of County Commissioners of Alachua County, Florida (the "BOCC") created the Authority by Ordinance 81-07, as amended by Ordinance 99-25, now codified Chapter 32 et seq. of the Alachua County Code of Ordinances (the "Ordinance").
The HFA provides tax exempt and taxable financing for the acquisition, construction, and/or rehabilitation of multi-family rental housing projects, which satisfy the goals and requirements of the HFA, and comply with applicable federal and state law. In any given year, the ability of the HFA to provide tax-exempt financing for projects is contingent upon receipt by the HFA of an annual tax-exempt bond allocation from the Division of Bond Finance of the State of Florida (the Division).
The HFA receives revenue in the form of fees from the sale of tax bonds, program participation fees and lien payoffs from housing projects.
The HFA encourages investment by private enterprise and stimulates construction and rehabilitation of housing through use of public financing.
The mission of the HFA is to consider opportunities that increase the availability of affordable housing in Alachua County. The Authority issues tax exempt bonds for the development or acquisition and rehabilitation of multifamily rental housing complexes and loans for the development of affordable housing. Owners of such faci...
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