Resolution 2022-106 RESOLUTION NO. 2022 - 106
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, APPROVING A PLAN OF FINANCING
INVOLVING THE ISSUANCE BY THE HOUSING FINANCE
AUTHORITY OF COLLIER COUNTY, FLORIDA OF ITS SINGLE
FAMILY MORTGAGE REVENUE BONDS IN AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $50,000,000 IN ONE OR
MORE SERIES; APPROVING USE OF STATE AWARDED VOLUME
CAP ALLOCATION FOR MORTGAGE CREDIT CERTIFICATE
PROGRAMS OR MULTIFAMILY BONDS OR CARRY FORWARD;
APPROVING BONDS AS REQUIRED BY SECTION 147(F) OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, pursuant to Ordinance No. 80-66, enacted by the Board of County
Commissioners of Collier County, Florida (the "Board") on July 29, 1980 (the "Ordinance"), the
Board created the Housing Finance Authority of Collier County, Florida (the "Authority"), in
accordance with Part IV, Chapter 159, Florida Statutes (the "Act"), for the purpose of alleviating
a shortage of housing available at prices or rentals which many persons and families can afford
and a shortage of capital for investment in such housing; and
WHEREAS, pursuant to the Act, the Authority is empowered to revenue bonds for
single family or multifamily housing for persons of low, moderate or middle income as defined
in the Act; and
WHEREAS, in furtherance of its statutory purposes, the Authority desires to issue single
family mortgage revenue bonds, in one or more series, in an aggregate principal amount not to
exceed $50,000,000 (the "Bonds"), or, in the alternative, to use any private activity bond volume
cap that may be awarded to be used in conjunction with a mortgage credit certificate program,
and/or to be applied toward multifamily housing (the "Plan of Finance") within the meaning of
Section 147(f)(2)(C) of the Internal Revenue Code of 1986, as amended (the "Code"); and
WHEREAS, the Bonds are to be issued to make available funds to (i) purchase federally
insured or guaranteed mortgage loans originated by participating local lending institutions to
finance or refinance the purchase of new or existing owner-occupied single family residences (a)
situated within Collier County, Florida, and (b) owned by persons or families of low, moderate,
or middle income, (ii) purchase securities from a master servicer evidencing interests in or
backed by a pool of such mortgage loans, including, without limitation, securities issued by the
federal government or agencies thereof, (iii) be used in conjunction with a mortgage credit
certificate program, and/or (iv) to be applied toward multifamily housing; and
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WHEREAS, the Authority held a public hearing on May 5, 2022, as required by Section
147(f) of the Internal Revenue Code of 1986, as amended (the "TEFRA Hearing"), after proper
notice was published (the "TEFRA Notice"), for the purpose of giving all interested persons the
opportunity to express their views in connection with the Plan of Financing and the issuance of
the Bonds (a copy of said TEFRA Notice being attached as Exhibit A to the Authority
Resolution as hereinafter defined); and
WHEREAS, at the conclusion of said TEFRA Hearing, the Authority adopted
Resolution No. 2022-03 (the "Authority Resolution"), a copy of which is attached hereto as
Exhibit A; and
WHEREAS, the Authority has requested the Board's approval of the Plan of Financing
and the issuance of the Bonds by the Authority in one or more series pursuant thereto for
purposes of Section 147(f) of the Code:
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA:
Section 1. Approval of Plan of Financing and Issuance of the Bonds for Purposes
of Section 147(f) of the Code. For purposes of Section 147(f) of the Code, the Board hereby
approves the Plan of Financing, the notice of public hearing, the public hearing, and the issuance
by the Authority of the Bonds in an aggregate principal amount not to exceed Fifty Million and
00/100 Dollars ($50,000,000) pursuant thereto for the purposes stated herein. The Board's
approval of the Plan of Financing and the issuance of the Bonds by the Authority shall not be
construed to obligate Collier County, Florida, to incur any liability, pecuniary or otherwise, in
connection with the issuance of the Bonds or the Plan of Financing. Provided further, however
this approval shall in no way be deemed to abrogate any regulations of the County and any
project contemplated by this resolution shall be subject to all such regulations, including, but not
limited to, the County's Growth Management Plan, all concurrency requirements contained
therein, and the Collier County Land Development Code.
Section 2. Approval of Use of Single Family Bond Allocation. The Board hereby
authorizes the allocation for single family revenue bonds to be used in connection with (i)
mortgage credit certificate authority, and/or (ii) multifamily revenue bonds. The Authority is
authorized to determine if such allocation will be (i) carried forward for use in future years,
and/or (ii) converted for use with mortgage credit certificates and/or multifamily revenue bonds,
as the Authority may deem most advisable.
Section 3. Effective Date. This Resolution shall take effect immediately upon
adoption.
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PASSED AND ADOPTED THIS 1114In day of 3W)Q , 2022.
(SEAL)
ATTEST:. . BOARD OF COUNTY COMMISSIONERS
Crys�tya, c. Kinzel, Clerk of Courts COLLIER CO 4 •RIDA
f 1,�V ♦'
AA
By-, •1. + By: -- _
'a ,,t 4,,1; : •'clerk Will L. McDaniel, Jr., Chai man
7 i '.,; at eo y.
Amore, lit an• egality:
I I lib
Jeffrey E;'. 1..` kow, County Attorney
Attachment:
Exhibit A—Authority Resolution No. 2022-03
Exhibit A
RESOLUTION NO, 2022-03
A RESOLUTION OF THE HOUSING FINANCE AUTHORITY OF
COLLIER COUNTY, FLORIDA APPROVING A PLAN OF FINANCE
INVOLVING THE ISSUANCE BY THE AUTHORITY OF ITS SINGLE
FAMILY MORTGAGE REVENUE BONDS IN AN AGGREGATE FACE
AMOUNT OF NOT TO EXCEED S50,000,000 IN ONE OR MORE SERIES;
APPROVING USE OF STATE-AWARDED PRIVATE ACTIVITY BOND
ALLOCATION ("ALLOCATION") FOR MORTGAGE CREDIT
CERTIFICATE PROGRAMS OR MULTIFAMILY CARRY FORWARD;
AUTHORIZING THE PROPER OFFICERS OF THE AUTHORITY TO DO
ALL THINGS NECESSARY OR ADVISABLE IN CONNECTION WITH
THE PLAN OF FINANCE; AND PROVIDING AN EFFECTIVE DATE FOR
THIS RESOLUTION,
WHEREAS, the Housing Finance Authority of Collier County, Florida (the "Authority")
intends to issue its single family mortgage revenue bonds (the "Single Family Bonds"), in one or
more series, in an aggregate principal amount of not to exceed $50,000,000, or to participate in
one or more issues of single family mortgage revenue bonds issued by other housing finance
authorities pursuant to interlocal agreements between the Authority and such other housing finance
authorities to (i) make funds available to purchase federally insured or guaranteed mortgage loans
originated by participating local lending institutions to finance or refinance the purchase of new or
existing owner-occupied single-family residences (a) situated within Collier County, Florida(the
"County") and/or other Florida Counties as authorized by Chapter 159, Part IV, Florida Statutes,
as amended,and(b)owned by persons or families of low,moderate or middle income,(ii)purchase
securities from a master servicer evidencing interests in or backed by a pool of such mortgage
loans, including, without limitation, securities issued by the federal government or agencies
thereof, (iii) be used in conjunction with a mortgage credit certificate program, and/or (iv) be
applied toward multifamily housing; and
WHEREAS, the State of Florida's (the "State") allocation procedures require that (i) a
public hearing be held under the Tax Equity and Fiscal Responsibility Act("TEFRA")with respect
to the Single Family Bonds, and (ii) the issuance of the Single Family Bonds be approved by the
Board of County Commissioners of Collier County, Florida, for purposes of Section 147(f) of the
Internal Revenue Code of 1986, as amended (the "Code") prior to requesting private activity bond
allocation ("Allocation") for said Single Family Bonds; and
WHEREAS, the Authority desires to in the alternative provide mortgage credit certificates
for the benefit of the citizens of the County and to convert single family mortgage revenue bond
Allocation awarded by the State for Allocation applicable to mortgage credit certificate authority;
and
WHEREAS, the Authority may elect to apply or carry forward any unused single family
Allocation awarded by the State for use with either single family revenue bonds or multifamily
revenue bonds; and
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AUTHORITY RESOLUTION
EXHIBIT A TO COUNTY RESOLUTION
WHEREAS, in order to satisfy certain of the requirements of Section 147(f) of the
Internal Revenue Code of 1986, as amended, the Authority did on this date hold a public hearing
on the proposed Plan of Finance, which date is at least 7 days following the publication of a
notice of such public hearing as required by law (proof of publication of such notice is attached
hereto as Exhibit A). Such public hearing, which occurred prior to the adoption of this
Resolution, was conducted in a manner that provided a reasonable opportunity for persons with
differing views to be heard, both orally and in writing, on the Plan of Finance;and
WHEREAS, the Authority hereby desires to adopt a plan of financing within the meaning
of Section 147(f)(2)(C)of the Code.
NOW,THEREFORE,BE IT RESOLVED BY THE HOUSING FINANCE AUTHORITY
OF COLLIER COUNTY, FLORIDA:
Section 1. Approval of Plan of Finance and Issuance of the Bonds. The Authority
hereby authorizes the issuance of the Single Family Bonds in an aggregate face amount of not to
exceed $50,000,000 for purposes stated herein. The Authority also hereby approves a plan of
financing consisting of the issuance of one or more series of Single Family Bonds at one or more
times and from time to time, which provides funds to originate new mortgages for first-time
homebuyers within the meaning of Section 143 of the Code (the "Plan of Finance"). Neither the
Authority's approval of the Plan of Finance, or the issuance of the Single Family Bonds by the
Authority, shall (i) obligate or be construed to obligate the Authority to issue all or any portion of
such Single Family Bonds,or(ii)cause the Authority or the County to incur any liability,pecuniary
or otherwise, in connection with the Plan of Finance or the issuance of the Single Family Bonds
and/or the decision not to issue all or any portion of the Single Family Bonds.
Section 2. Approval of Use of Single Family Bond Allocation. The Authority hereby
authorizes the Allocation for single family revenue bonds (i) to be converted for mortgage credit
certificate authority, and/or (ii) to be used as Allocation for multifamily revenue bonds. The
Chairman of the Authority is hereby authorized to determine (i) if such Allocation should be
carried forward, and/or (ii) if such Allocation should be converted for use with mortgage credit
certificates and/or used for multifamily revenue bonds.
Section 3. Delegation of Authority to hold a Public Hearing. If,after consultation with
the Authority's Bond Counsel it is deemed necessary to hold further public hearings with respect
to the issuance of single family or multifamily bonds, the attorney for the Authority or his designee
is hereby authorized to publish a notice and to conduct a public hearing in accordance with Section
147(f)of the Code, and shall report the results of such hearing to the Authority.
Section 4. Further Actions and Ratification of Prior Actions. The officers, agents and
employees of the Authority are hereby authorized and directed to do all acts and things required
of them by this Resolution and to execute and deliver any and all instruments, affidavits,
certificates, and notices necessary or advisable to effectuate the issuance of the Single Family
Bonds and the implementation of the Plan of Finance. All actions heretofore undertaken by the
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attorney for the Authority, officers, agents and employees of the Authority with respect to the
Single Family Bonds and/or the Plan of Finance are hereby authorized and ratified.
Section 5, Effective Date. This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED, this 5th day of May 2022.
HOUSING FINANCE AUTHORITY OF
COLLIER COUNTY, FLORIDA
By: .12'W.6o/elk)
Chair
ATTEST:
Secret / '.g
3
iNtipirs iNruirti
PART OF THE USA:TODAY NETWORK
Published Daily
Naples, FL 34110
PICKWORTH DONALD P.A .
725 HIGH PINES DR
NAPLES, FL 34103 NOTICE OF PUBLIC HEARING
HOUSING FINANCE AUTHORITY OF COLLIER COUNTY,FLO
NOTICE IS HEREBY GIVEN of a public hearing by the Housing Finance Aut
Florida (the "Authority"), to be held on May 5, 2022, at 8:30 a.m. (local
Affidavit of Publication room, Suite 102, 5811 Pelican Bay Blvd, Naples FL, for the purpose of r
STATE OF WlSCONSlN hearingdiscussion concerning a plan of financing subject to the Internal R
amended (the "Code"), pursuant to which the Authority will issue its Sing
COUNTY OF BROWN - enue Bonds, in one or more series, in an aggregate principal amc
$50,000,000, pursuant to the plan of finance (the "Bonds"), the proceeds
make available funds to purchase federally insured or guaranteed mortg
Before the undersigned they serve as the authority, participating local lending institutions to finance or refinance the purcl
owner-occupied single-family residences situated within Collier County, FI
personally appeared said legal clerk who on oath says that families of Pow, moderate or middle income (the "Project"), to purchase
he/she serves as Legal Clerk of the Naples Daily News, a servicer evidencing interests in or backed by a pool of such mortgage I'
limitation, securities issued by the federal government or agencies there
daily newspaper published at Naples, in Collier County, junction with a Mortgage Credit Certificate program or for multifamily F
Florida; distributed in Collier and Lee counties of Florida; tend the hearing through the participation options set forth below.
that the attached copy of the advertising was published in The Bonds shall not be a debt, liability or obligation of the Authority or o
said newspaper on dates listed. Affiant further says that the or the State of Florida, or of any political subdivision thereof, but shall be
above-referenced mortgage loans or securities evidencing an interest in
said Naples Daily News is a newspaper published at such mortgage loans. The Bonds are not a debt of the United States of
Naples, in said Collier County, Florida, and that the said thereof, or of GNMA, Fannie Mae or Freddie Mac, and are not guarante
newspaper has heretofore been continuously published in credit of the United States of America.
said Participation options: (1) Physical attendance. Seating capacity in the col
and not all may be accommodated. (2) Call-in number 929.205.6099; M,
Collier County, Florida; distributed in Collier and Lee Passcode 556757.
counties of Florida, each day and has been entered as All interested persons are invited to attend the meeting through the opti
second class mail matter at the post office In Naples, in may submit questions or comments, or request copies of the application f
said Collier County, Florida, for a period of one year next the Authority's executive director at don@dappalaw.com. Persons are ad,
preceding the first publication of the attached copyof to appeal any decision made at this hearing, they will need a record of ti
such purpose, they may need to ensure that a verbatim record of the pro
advertisement; and affiant further says that he has neither record includes the testimony and evidence upon which the appeal is to t
norpromised anycorporationanyDon Plckworth at 239.404,1475 with any questions or concerns.
paid person, or discount, HOUSING FINANCE AUTHORITY OF COLLIER COUNTY
rebate, commission or refund for the purpose of securing By:Donald A.Pickworth
this advertisement for ublication in said news a er General Counsel and Executive Director
p P P Pub Date: April 27,2022
issue(s)dated or by publication on the newspaper's
website, if authorized, on
Issues)dated: 04/27/2022
Subscribed and sworn to before on April 27, 2022:
Notary, State of Wl, Cou ty of Brown
My commission expires
Publication Cost: $430.50
Ad No: 0005232426
Customer No: 1307145 K AT H L E E N A L L E:`J
PO It: PUBLIC HEARING Notary Public
ttorAffidavitsl of Wisconsin
This is not an invoice EXHIBIT A TO AUTHORITY RESOLUTION
AFFIDAVIT OF PUBLICATION