Agenda

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County Attorney's Report 15. 2.

BCC Regular Meeting

Action

Meeting Date:	02/19/2015
Issue: Resolution relating to Escambia County Housing Finance Authority Confirming Chapter 159, Part II Authorization
From:	Richard Lott
Department:	Bryant Miller Olive P.A.
CAO Approval:

RECOMMENDATION:

That the Board adopt the attached Resolution authorizing and ratifying the operation of the Escambia County Housing Finance Authority (the "Authority") under Chapter 159, Part II, Florida Statutes, relating to housing projects and ancillary and subordinate related facilities.

BACKGROUND:

The Authority was created under the Florida Housing Finance Authority Law, being Part IV of Chapter 159, Florida Statutes, to address the shortage of affordable housing and provide capital for investment in the County. The need for affordable housing in the County has historically involved developers whose projects have not been described or otherwise provided for in the original grant of authority to the Authority under Chapter 159, Part IV, but which are described as projects in Chapter 159, Part II, Florida Statutes. The Authority is a special district within the definition of a "local agency" under Section 159.27(4), Florida Statutes, and therefore qualifies to act as a local agency under Chapter 159, Part II, Florida Statutes. The Board has previously determined in conjunction with financings on behalf of the University of West Florida Foundation, Inc., a direct support organization of the University of West Florida,that a need exists to allow the Authority to exercise powers under Chapter 159, Part II, Florida Statutes.

BUDGETARY IMPACT:

The Authority does not receive funds from the County, and no funds of the County are expended in connection with the projects financed by the Authority.

LEGAL CONSIDERATIONS/SIGN-OFF:

The County's bond counsel, Richard I. Lott of Bryant Miller Olive P.A., also serves as bond counsel to the Authority. Bryant Miller Olive P.A. generated the Resolution on behalf of the Authority and has reviewed the Resolution on behalf of the County.

PERSONNEL:

None.

POLICY/REQUIREMENT FOR BOARD ACTION:

Each of the projects financed by the Authority as a "local agency" under Chapter 159, Part II, Florida Statutes, are required to make a significant contribution to the economic growth of the community, provide gainful employment and serve a public purpose by advancing the health, safety and welfare of the State of Florida and its people.

IMPLEMENTATION/COORDINATION:

None.

Attachments
Resolution