24-1319
MOTION TO ADOPT Resolution, the title of which is as follows: (Commission District 9) A Resolution of the Board of County Commissioners of Broward County, Florida authorizing the issuance by the Housing Finance Authority of Broward County, Florida (the “HFA”) of its not to exceed $22,000,000 Multifamily Housing Revenue Note, Series 2024 (Woodsdale Oaks) (the “Note”) for the purpose of financing the acquisition, rehabilitation and equipping of Woodsdale Oaks located in Broward County, Florida (the “Project”); establishing parameters for the award of the sale thereof and establishing criteria for determining the terms thereof, including interest rates, interest payment dates, maturity schedule and other terms of such Note; approving the forms of and authorizing the execution and delivery of (i) a Funding Loan Agreement by and among the HFA, Berkadia Commercial Mortgage LLC, as Funding Lender (the “Funding Lender”), and the Bank of New York Mellon Trust Company, N.A., as Fiscal Agent (the “Fiscal Agent”); (ii) Project Loan Agreement by and among the HFA, the Fiscal Agent and Woodsdale Oaks, LLC (the “Borrower”); (iii) a Land Use Restriction Agreement by and among the HFA, the Fiscal Agent and the Borrower; (iv) an Assignment of Security Instrument by the HFA to the Fiscal Agent; (v) an Assignment of the Project Note by the HFA to the Fiscal Agent; (vi) a Placement Agent Agreement by and between the HFA and Raymond James & Associates, Inc. and RBC Capital Markets, LLC, as Placement Agents; and (vii) a Fiscal Agent Fee agreement by and between the HFA and the Fiscal Agent; approving and authorizing the execution and delivery by the HFA of certain additional agreements necessary or desirable in connection with the issuance of the Note; approving and ratifying the HFA’s publication of a notice of public hearing and the subsequent holding of such public hearing each under Section 147(f) of the Internal Revenue Code of 1986, as amended, in connection with the issuance of the Note by the HFA; authorizing the proper officers of the HFA to do all things necessary or advisable in connection with the issuance of the Note; and providing an effective date for this Resolution.
- Committee
- Public Works and Environmental Services - Housing Finance Authority
- Requested by
- Resilient Environment - Housing Finance Division
- Introduced
- September 18, 2024
- On agenda
- October 22, 2024
- Passed
- October 22, 2024