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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 1 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 ($50,000,000) pursuant thereto for the purposes stated herein. The Board's approval of the Plan of Financing and the issuance of the Bonds by the Authority shall not be construed to obligate Collier County, Florida, to incur any liability, pecuniary or otherwise, in connection with the issuance of the Bonds or the Plan of Financing. Provided further, however this approval shall in no way be deemed to abrogate any regulations of the County and any project contemplated by this resolution shall be subject to all such regulations, including, but not limited to, the County's Growth Management Plan, all concurrency requirements contained therein, and the Collier County Land Development Code. Section 2. Approval of Use of Single-Family Bond Allocation. The Board hereby authorizes the allocation for single family revenue bonds to be used in connection with (i) mortgage credit certificate authority, and/or (ii) multifamily revenue bonds. The Authority is authorized to determine if such allocation will be (i) carried forward for use in future years, and/or (ii) converted for use with mortgage credit certificates and/or multifamily revenue bonds, as the Authority may deem most advisable. Section 3. Effective Date. This Resolution shall take effect immediately upon adoption. [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 2 PASSED AND ADOPTED THIS 10th day of December, 2024. ATTEST: BOARD OF COUNTY COMMISSIONERS Crystal K. Kinzel, Clec of Courts COLLIER COUNTY, FLORIDA BY: /. y` a .�'_ By: h ep t S r i p Chalrma '�$ 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 2 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 3 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