Agenda Item Name:
Title
Alachua County Housing Finance Authority Presentation
End
Presenter:
Candie Nixon (352) 213-4896
Description:
Presentation on the Housing Finance Authority, Scope of Work and Plans
Recommended Action:
Recommended Action
Hear the Presentation
End
Prior Board Motions:
None
Fiscal Consideration:
Fiscal Consideration
None
End
Background:
On October 8, 2019, the BoCC requested a presentation by the Housing Finance Authority outlining its scope and plan of work. Each county is empowered by Florida Statute 159.604 to create a separate public body corporate and politic, to be known as a housing finance authority of the county for which it was created, for the purpose of alleviating a shortage of housing and creating capital for investment in housing. "Local agencies" are authorized to issue revenue bonds to enhance economic activity in the state and improve the prosperity and welfare of the state and its inhabitants.
On December 4, 1999, 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, all powers and public and governmental functions established by statute
Currently, the HFA is a five (5)-member board. The HFA mission is to consider opportunities that increase affordable housing in Alachua County by issuing tax-exempt bonds for the development, acquisition and/or rehabilitation of multifamily rental housing.
Mark T. Mustian. HFA Bond Counsel, will present an overview of the HFA to the BoCC. Mr. Mustian represents the law firm of Nabors, Giblin, & Nickerson, P.A.