Agenda Item Name:
Title
Alachua County Housing Finance Authority (HFA) Resolution for MultiFamily Mortgage Revenue Bonds
End
Presenter:
Claudia Tuck, 352-231-0058
Stephen Weeks, 352-337-6285
Description:
Alachua County HFA resolution in support of Harbor Cove, LLC.
Recommended Action:
Recommended Action
Approve the Alachua County Housing Finance Authority Resolution
End
Prior Board Motions:
None
Fiscal Consideration:
Fiscal Consideration
Alachua County is a conduit and there is no fiscal consideration
End
Strategic Guide:
Strategic Guide
Housing
End
Background:
This request is for BoCC approval of Alachua County Housing Finance Authority Resolution for MultifamilyMortgage Revenue Bonds.
On December 4, 1999, the BoCC enacted Ordinance No.99-25 creating the Alachua County Housing Finance Authority ("HFA") to carry out and exercise, without limitation, except as expressly stated in such ordinance (now codified as Chapter 32 of the Alachua County Code), all powers and public and governmental functions set forth in and contemplated by the Florida Housing Finance Authority Law. The Florida Housing Authority Law grants authority to the HFA to issue tax-exempt revenue bonds to finance qualified affordable housing projects in Alachua County.
The HFA held a public hearing on the Tax Equity and Fiscal Responsibility Act TEFRA on November 9, 2022, public notice of which was provided in accordance with the Internal Revenue Code of 1986, as amended.
The HFA requests that the Board of County Commissioners of Alachua County, Florida adopt the proposed resolution (1) approving a plan of financing involving the issuance by the HFA of its multifamily mortgage revenue bonds (the "Bonds") in an aggregate principal amount not to exceed $29,000,000 in one or more series, (2) approving use of state awarded volume cap allocation for the Bonds as required by Section 147(F) of the Internal Revenue Code of 1986, as amended, (3) ratifying the HFA's holding ...
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