Resolution 2024-252 RESOLUTION NO. 2024-252
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, APPROVING A PLAN OF FINANCE
INVOLVING THE ISSUANCE BY THE HOUSING FINANCE
AUTHORITY OF COLLIER COUNTY, FLORIDA (THE "AUTHORITY")
OF ITS SINGLE FAMILY MORTGAGE REVENUE BONDS (THE
"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 THE BONDS
OR, 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"), or to be
carried forward as permitted by applicable law; 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 March 25, 2024, 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. 2024-03 (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 1470 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 ($50,000,000) pursuant thereto for the purposes stated herein. The
Board's approval of the Plan of Financing and the issuance of the Bonds by the Authority shall
not be construed to obligate Collier County, Florida, to incur any liability, pecuniary or
otherwise, in connection with the issuance of the Bonds or the Plan of Financing. Provided
further, however this approval shall in no way be deemed to abrogate any regulations of the
County and any project contemplated by this resolution shall be subject to all such regulations,
including, but not limited to, the County's Growth Management Plan, all concurrency
requirements contained therein, and the Collier County Land Development Code.
Section 2. Approval of Use of Single-Family Bond Allocation. The Board hereby
authorizes the allocation for single family revenue bonds to be used in connection with (i)
mortgage credit certificate authority, and/or (ii) multifamily revenue bonds. The Authority is
authorized to determine if such allocation will be (i) carried forward for use in future years,
and/or (ii) converted for use with mortgage credit certificates and/or multifamily revenue bonds,
as the Authority may deem most advisable.
Section 3. Effective Date. This Resolution shall take effect immediately upon
adoption.
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PASSED AND ADOPTED THIS 10th day of December, 2024.
ATTEST: BOARD OF COUNTY COMMISSIONERS
Crystal K. Kinzel, Clec of Courts COLLIER COUNTY, FLORIDA
BY: /. y` a .�'_ By:
h ep t S r i p Chalrma '�$ Ch a 1, Chairman
re only.
Approved as to form and legality:
Col een Greene
Managing Assistant County Attorney
EXHIBIT A
HOUSING FINANCE AUTHORITY OF COLLIER COUNTY
RESOLUTION 2024-03
RESOLUTION NO.2024-03
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$50,000,000 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
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 251 day of March 2024.
HOUSING FINANCE AUTHORITY OF
COLLIER COUNTY,FLORIDA
By: 0")l
Chair
ATTES
Secretary ("---P
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EXHIBIT A-PROOF OF PUBUCATION OF NOTICE OF HEARING
4
'TEEM MG-
* LocaliQ 7/2./f/ay
Florida PO Box 631244 andnnati,OH 45263-1244
GANNETT
PROOF Of PUBLICATION
Donald A Pidcwosth PA
725 High Pines Dr
Naples FL 34103
STATE OF WISCONSIN,COUNTY OF BROWN
Before the undersigned authority personally appeared,who
on oath says that he or she is the Legal Advertising
Representative of the Naples Daily News,a newspaper
published In Collier County,Florida;that the attached copy
of advertisement,being a Legal Ad In the matter of Govt
Public Notices,was published on the publicly accessible
website of Collier and lee Counties,Florida,or In a
newspaper by print in the issues of,on:
03/15/2024
Afflant further says that the website or newspaper complies
with all legal requirements for publication in chapter 50,
Florida Statutes.
Subscribed and sworn to before me,by the legal clerk,who
is personally known to me,on 03/15/2024
• , teotW, oflrown Z
My commission expires
Publication Cost S372.40
Omer No: 9953630 #of Copies:
Customer No: 1382875 0
PO#: LSAR0073010
THIS IS NOT AN INVOICE!
Plena do nor use thl Eons for payme►t,wnitmxea
KAITLYN FEL1Y
Notary Public
State of Wisconsin
Page 1 of 2
Notice of Public Hearing
NOTICE IS HEREBY GIVEN of
a public hearing by the Housing
Finance Authority of Collier County,
Florida (the "Authority"), to be
held an March 25,2024,at 9:00 a.m.
(local time), in the In the County
Manager's Conference Room,
second floor, Building F, Suite 202,
Collier County Government Center,
3299 East Tamlami Trail, Naples,
Florida 34112. for the purpose of
receiving comments and hearing
discussion concerning a plan of
financing sublect to the Internal
Revenue Cade of 1986, as amended
(the "Code"), pursuant to which
the Authority will Issue its Single
Family Mortgage Revenue Bonds,in
one or more series,In an aggregate
principal amount of not to exceed
$50,000,000, pursuant to the plan of
finance(the"Bonds"),the proceeds
of which will be used to make avail-
able funds 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 situated within
Collier County, Florida, and by
persons or families of tow,moderate
or middle income (the "Protect"),
to purchase securities from a
master servicer evidencing inter-
ests in or backed by a pool of such
mortgage loans, including, without
limitation, securities Issued by the
federal government or agencies
thereof or to be used in coniunction
with a Mortgage Credit Certificate
program or for multifamily housing.
Persons may attend the hearing
through the participation options set
forth below.
The Bonds shall not be a debt,
liability or obligation of the Author-
ity or of Collier County, Florida,
or the State of Florida, or of any
political subdivision thereof, but
shall be payable solely from the
above-referenced mortgage loans or
securities evidencing an interest in
or backed by a pool of such mort-
gage loans. The Bonds are not a
debt of the United States of America
or any agency thereof,or of GNMA,
Fannie Mae or Freddie Mac, and
are not guaranteed by the full faith
and credit of the United States of
America.
Participation options: (1) Physi-
cal attendance. Seating capacity
in the conference room is limited
and not all may be accommodated.
(2) Call-In number 929.205.6099;
Meeting ID 287 094 7702; Passcade
556767.
All interested persons are invited
to attend the meeting through the
options set forth above, and may
submit questions or comments, or
request copies of the application for
financing by email to the Author-
ity's executive director at done
dappalaw com. Persons are advised
that, if they decide to appeal any
decision made at this hearing,they
will need a record of the proceed-
ings, and, for such purpose, they
may need to ensure that a verbatim
record of the proceedings is made,
which record includes the testimony
and evidence upon which the appeal
is to be based. Please contact Don
Plckworth at 239.404.1475 with any
questions or concerns.
HOUSING FINANCE AUTHORITY
OF COLLIER COUNTY
By: Donald A.Piekworth
General Counsel and Executive
Director
March 15 2024
LSAR0073010