Resolution 2020-144 RESOLUTION 2020- 1 4 4
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT EXCEEDING
$70,000,000 HOUSING FINANCE AUTHORITY OF COLLIER COUNTY MULTI-
FAMILY HOUSING REVENUE BONDS, (GOODLETTE ARMS APARTMENTS
PROJECT) PURSUANT TO CHAPTER 159, PART IV, FLORIDA STATUTES, AS
AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA:
Section 1. Recitals. It is hereby found, ascertained, determined and declared that:
A. The Housing Finance Authority of Collier County(the "Issuer") is a public corporation of
the State of Florida, was duly created by Ordinance No. 80-66 of the Board of County Commissioners of
Collier County, Florida, and is a body corporate and politic duly created and existing as a local
governmental body and a public instrumentality for the purpose of assisting qualifying housing projects
situated in Collier County, Florida (the "County"), under and by virtue of Chapter 159, Part IV, Florida
Statutes, (the "Act"),to provide for the issuance of and to issue and sell its obligations for lawful purposes
under the Act.
B. The Issuer has submitted to the Board of County Commissioners a copy of its Resolution
2020-03 (the "Authority Resolution"),attached hereto as Exhibit A, with respect to the issuance by it of
not to exceed $70,000,000 Housing Finance Authority of Collier County Multi-Family Revenue Bonds,
(Goodlette Arms Apartments Project)(the "Bonds").
C. A public hearing was held on the Authority Resolution on August 24, 2020, which public
hearing was duly conducted by the Issuer upon reasonable public notice, a copy of said notice being
attached as Exhibit A to the Authority Resolution, and at such hearing interested individuals were
afforded the opportunity to express their views, both orally and in writing, on all matters pertaining to the
location and nature of the proposed project and to the issuance of the Bonds.
D. The Issuer has recommended and requested that the Board of County Commissioners
approve the issuance of the Bonds so that the interest on the Bonds will be exempt from federal income
taxation under applicable provisions of Section 147(a)of the Internal Revenue Code of 1986, as amended.
E. The Authority Resolution shows that the Issuer has acted in accordance with all
applicable requirements of law, and that the issuance of the Bonds will serve significant public purposes
as provided in the Act.
F. The purpose of the Act will be effectively served, and it is necessary and desirable and in
the best interest of the County that the issuance of the Bonds be approved by the Board of County
Commissioners.
G. The Bonds shall not constitute a debt, liability or obligation of Collier County, its Board
of County Commissioners, officers, agents or employees, or the State of Florida or any political
subdivision or municipality thereof, but shall be payable solely from the revenues provided therefore, and
neither the faith and credit nor any taxing power of Collier County, or the State of Florida or any political
subdivision or municipality thereof is pledged to the payment of the principal of, premium, if any, and
interest on the Bonds. No member of the Board of County Commissioners of Collier County or any
officer, agent, or employee thereof shall be liable personally on the Bonds by reason of its issuance.
Section 2. Approval of Issuance of the Bonds. The issuance of the Bonds as contemplated by
the Authority Resolution is hereby approved, however this approval shall in no way be deemed to
abrogate any regulations of the County and the 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 3. Repealing Clause. All resolutions or orders and parts thereof in conflict herewith, to
the extent of such conflict, are hereby superseded and repealed.
Section 4. Effective Date. This Resolution� shall take effect immediately upon its adoption.
es
PASSED AND ADOPTED THIS Q day of September 2020.
(SEAL)
ATTEST: BOARD OF COUNTY COMMISSIONERS
Crystal Kinzel, Clerk` . OF COLLIER COUNTY, FLORIDA
4044etigeovesbia—
By
:
es ,as s Burt L. Saunders, Chairman
signature only-
Appro . - . :nd legal sufficiency:
FII
Jeffrey Istzko 4 County Attorney
EXECUTION COPY
RESOLUTION NO. (...) oao -6 3
RESOLUTION REGARDING THE OFFICIAL ACTION
OF THE HOUSING FINANCE AUTHORITY OF
COLLIER COUNTY, FLORIDA RELATIVE TO THE
ISSUANCE OF NOT TO EXCEED $70,000,000 IN INITIAL
PRINCIPAL AMOUNT OF ITS MULTIFAMILY
HOUSING REVENUE BONDS, SERIES 2020 (GOODLETTE
ARMS) FOR THE PURPOSE OF ACQUIRING,
REHABILITATING, EQUIPPING, AND DEVELOPING
A MULTIFAMILY RESIDENTIAL HOUSING FACILITY
FOR PERSONS OR FAMILIES OF LOW, MIDDLE OR
MODERATE INCOME; FURTHER AUTHORIZING THE
EXECUTION AND DELIVERY OF AN AGREEMENT BY
AND BETWEEN THE AUTHORITY AND GOODLETTE
ARMS PRESERVATION LP; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, Goodlette Arms Preservation LP, a Florida limited partnership (the
"Company") has applied to the Housing Finance Authority of Collier County, Florida (the
"Authority") to (i) issue its Multifamily Housing Revenue Bonds, Series 2020 (Goodlette Arms)
in a principal amount not to exceed $70,000,000 (the "Bonds") for the purpose of financing a
portion of the costs of the acquisition, rehabilitation, equipping and development of a 250-unit
multifamily residential housing facility known as "Goodlette Arms" for persons or families of
low, middle or moderate income, to be located in Naples, Florida (the "Project"), and (ii) to
loan the proceeds of the Bonds to the Company pursuant to Chapter 159, Part IV, Florida
Statutes,or such other applicable provision or provisions of Florida law(the"Act"); and
WHEREAS, subject to the terms set forth herein and in the Memorandum of Agreement
of even date herewith, the Company has requested that the Authority make a determination to
issue the Bonds under the Act in one or more issues or series not exceeding an aggregate
principal amount of $70,000,000 and to loan the proceeds thereof available to finance a portion
of the Project under a project loan agreement or other financing agreement which will provide
that payments thereunder be at least sufficient to pay the principal of and interest and
redemption premium, if any, on such Bonds, and such other costs in connection therewith as
may be incurred by the Authority, to assist the Company and promote the purposes provided in
the Act;and
WHEREAS,the Company has reviewed the Memorandum of Agreement relating to the
issuance of the Bonds;and
1
EXHIBIT A TO COUNTY RESOLUTION
WHEREAS, in order to satisfy certain of the requirements of Section 147(f) of the
Internal Revenue Code of l 986, as amended, the Authority did on this date hold a public hearing
on the proposed issuance of the Bonds for the purposes herein stated, 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 both the issuance of such Bonds and the location and nature of the portion of the Project to be
financed with the proceeds therefrom;and
WHEREAS, it is intended that this Resolution shall constitute official action toward the
issuance of the Bonds within the meaning of the Internal Revenue Code of 1986,as amended,and
applicable United States Treasury Regulations.
IT IS, THEREFORE, DETERMINED AND RESOLVED BY THE HOUSING
FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA, THAT:
1. APPROVAL OF' THE PROJECT. The acquisition, rehabilitation, equipping
and development of the Project and the financing thereof by the Authority through the issuance
of the Bonds, pursuant to the Act, will promote the health and welfare of the citizens of Collier
County, Florida,and will thereby serve the public purposes of the Act.
2. EXECUTION AND DELIVERY OF THE MEMORANDUM OF
AGREEMENT. The Chairman or any Vice Chairman of the Authority hereby are authorized
and directed to execute, for and on behalf of the Authority, the Memorandum of Agreement
of even date herewith between the Authority and the Company providing understandings relative
to the proposed issuance of the Bonds by the Authority to finance a portion of the Project in an
aggregate principal amount of not to exceed $70,000,000.
3. AUTHORIZATION OF THE BONDS. Subject to the terms and conditions
set forth herein and in the Memorandum of Agreement, there is hereby authorized to be issued
and the Authority hereby determines to issue the Bonds, if so requested by the Company,in
one or more issues or series in an aggregate principal amount not to exceed of $70,000,000
for the purpose of financing a portion of the Project described in such Memorandum of
Agreement. The Bonds shall be designated the "Housing Finance Authority of Collier County,
Florida Multifamily Housing Revenue Bonds, Series 2020(Goodlette Arins)".
4. RECOMMENDATION FOR APPROVAL TO BOARD OF COUNTY
COMMISSIONERS. The Authority hereby recommends that the Board of County
Commissioners of Collier County, Florida (the "Board") approve the issuance of the Bonds and
the financing of the Project. The Authority hereby directs the Chairman,any Vice Chairman or
the Authority's Counsel, either alone or jointly,at the expense of the Company, to seek approval
for the issuance of the Bonds and the financing of the Project by the Board as the applicable
elected representatives of Collier County, Florida, under and pursuant to the Act and Section
147(f) of the Internal Revenue Code of 1986, as amended.
2
S. GENERAL AUTHORIZATION. The Chairman, the Vice Chairman, the
Secretary and counsel for the Authority are hereby further authorized to proceed, upon
execution of the Memorandum of Agreement, with the undertakings provided for therein on
the part of the Authority and are further authorized to take such steps and actions as may be
required and necessary in order to cause the Authority to issue the Bonds subject to the terms
and conditions set forth herein and in the Memorandum of Agreement authorized hereby.
6. AFFIRMATIVE ACTION. This resolution is an affirmative action of the
Authority toward the issuance of the Bonds, as contemplated in said Memorandum of
Agreement, in accordance with the purposes of the laws of the State of Florida and the
applicable United States Treasury Regulations with respect to the Bonds.
7. APPROVAL OF NOTICE OF PUBLIC HEARING. The form of notice of
public hearing, as evidenced by the affidavit attached 'hereto as Exhibit A, is hereby ratified
and confirmed.
8. APPOINTMENT OF COUNSEL. The firm of Nabors, Giblin & Nickerson,
P.A. is duly appointed Bond Counsel in connection with the issuance of the Bonds. Donald A.
Pickworth, P.A..,is duly appointed Issuer's Counsel.
9. LIMITED OBLIGATIONS. The Bonds and the interest thereon shall not
constitute an indebtedness or pledge of the general credit or taxing power of the Authority, the
City of Naples, Florida, Collier County, the State of Florida or any other political
subdivision or agency thereof, but shall be payable solely from the revenue pledged therefor
pursuant to a project loan agreement or other financing agreement entered into by and
between the Authority and the Company prior to or contemporaneously with the issuance of
the Bonds.
10. LIMITED APPROVAL. The approval given herein shall not be construed as
an approval of any necessary zoning applications nor for any other regulatory permits relating
to the Project, and the Authority shall not be construed by reason of its adoption of this
Resolution to have waived any right of the County and/or of any city in which the proposed
Project is to be located or to have estopped the County and/or such city, if any, from
asserting any rights or responsibilities it may have in that regard. In addition, this Resolution
and the Memorandum of Agreement are conditioned upon and subject to: (l) the
determination by the Authority. in its sole and absolute discretion, that it is in the best interests
of the Authority and the residents of Collier County, Florida, to use the tax exempt volume
cap allocation potentially available to the Authority to issue the Bonds; (2) receipt of the
necessary tax exempt volume cap allocation from the State of Florida Division of Bond
Finance; (3)receipt of the approval of the Project and the proposed financing of the Project by
the Authority; (4) the ownership and control of the Company and its principals not varying
more than five (5%) percent from what has been represented to the Authority in the
Company's application (excluding the admission of a tax-credit limited partner and as
otherwise specifically approved by the Authority); (5) the number of multi-family units to be
rehabilitated by the Company not decreasing by more than five (5%) percent from the 250
3
units referenced in the Company's application; and (6) the closing of the Bonds occurring on
or before one hundred and fifty-five (155) days after receipt of volume cap allocation from
the State of Florida Division of Bond Finance, unless extended by the Authority in its sole and
absolute discretion. In the event that any of the foregoing events shall not take place, if
applicable, or shall occur or take place, if applicable. it shall operate as a termination of this
Resolution and the Memorandum of Agreement.
11. BOND ALLOCATION. Upon a determination by the Authority as set forth
in the Memorandum of Agreement to request private activity allocation with respect to such
Bonds, the Chairman, Vice Chairman, or Authority's Counsel are hereby authorized to
execute all necessary documents for obtaining and preserving an allocation from the State of
Florida, Division of Bond Finance upon request by the Company.
This Resolution shall take effect immediately
4
ADOPTED this 24th day of August, 2020.
HOUSING FINANCE AUTHORITY OF
COLLIER COUNTY, FLORIDA
ATTEST:
By By
' z'ri '''
. .e „,-7 7, ('-'Secretary/ Ctiairmap,,,'
5
EXHIBIT A
PROOF OF PUBLICATION OF NOTICE OF PUBLIC HEARING
A-1
. , . .,,, .
rl.. ;
lli AL siiLli,.
,+�►' �-iar pART Of THE USA NETWORK
Published Daily
Naples, FL 34110
PICKWORTH DONALD P.A .
725 HIGH PINES DR Notice of Public Hearing and Special Meeting
Housing finance Authority of Canter County
given that the Housing Finance Authority of
Colliet*{API +FL 34103 Conce is unty(the .Authority") will conduct a public,hearing in
accordance
County,t t and fiscal Responsibility e ctt 3f
accordance volt,the lox Equity 24, 2020,
Affi
.al meeting on August
0
i9B2 (TURA) and STATEsppec-
f
OF Publication
�,rn (local time). TNiS WILL BE A VtRTUAi. MEETING CONDUCT-
ED OF WISCONSIN EO BY COMMH�NI�VTHORiTYTIONS MEDIA
ViRTUAL MEETING iGUIDELACCORD-
COUNTYINE5
ANCE WITH T atterL the GUIDELINES
DEUNES
OF BROWN AND PROCEDURES.u Persons f may
ttu;partict{iatSor,opt ons set fnRii brinw,
as the authority, of the meeting will be receiving comments and
theyB
Serve says that The purpose proposed issuance of the and
personally
the undersigned Thehea ! I discussion e meeting the p p
Revenue Bands to be used ttrt�t
eshe a se appeared ald Clerkegal ocf therk whole oath
he/she Servos as LegalHance the acquisition and rehabilitation of the following mot
of Naples Daily News, a t{,ority's MultifamilyHausrntt
published at Naples, in Collier County, ect:
daily newspaperame of P*ojcrt: fiaadtetie Aims Apartments
Florida; was published in Goadlette Arms Preservation LP
distributed in Collier and Lee counties of she Florida,a; initial owner r ms Press
that the attached copy s the advertising 250
Tax-exempt financing Requested said newspaper on dates listed. Affiant further says that the Size
Number it wilts: 11.76 Acres
0,000
Size of of gip Goadiette Frank Road N.,
said Naples Daily News is a newspaper publishedthat the dsa d Location: Naples,FL tte-f
newspaper
in said heretofore County, Florida,nnpublished in ehie solely Man the ravenues de
newspaper has been continuously P if issued the bonds will he pay
4102
rived by the Authority pursuant to a Loan Agree1ient or athci
said distributed in Collier and Lee financing by documents between the Auth rityAyi and the initial
Collier County, Florida; can sutecin tr or outer
Owner The bonds will not constitute an indcuteaness of Colioi
post office in Naples, in County. the State of Florida or any p
counties of Florida, each day and has been enteredas cy thereof within the meaning of any constitutional or statutory
secondgert-
idCollier class mail matter at the debt limitation h i he mealnin The ad and may not be rpm xing to Iuo statutory
paid dingCounty, Florida,bica for a period of thone year nexto
of Collier County rnehts of principal, premium (if any)
preceding the first publication of the attached neither exercised to make any pay property of the County or the
e
ar exercinterised
on ttoieany ayincrits or ; (if he
advertisement; and affiant further says that he has state or any prr will be
Wedged for payments of subdivision
ai, premium (it
paid nor promised any person, or corporation any discount, pp
commission or refund for the purpose of securing on the bonds,payments
o only the re remiu any)by interest
to rest
rebate, thonty as described in this paragraph The Authority hers no
Au-
this advertisement for publication in the said newspapef taxing power.
ublished:08I1712020 OPTIONS MEETING PAR
ZOOM:FOR https://us02Web.xoTICIPATION:om.us/j/81996451443
OR
CALL IN NUMBER i-9Z9.205-b099
MEETING ID 1-9 9-20 1443
Subscribed and sworn to before on August 17,2020: Ali interested writ invited Sc' attcod the
nreetmg
through the options set brth above, arrd may submitp� s
or comments, or request copies of the application for frwrcxig
by email to the Authority's executive directu at n 1or xi:.
.corn, Persons are advised that, if they der do to appeal ant de-
usion made at this heart they will need a record of the
pip.
_ ....--
feedings, and, for sucl,pu they ntay need to en PI
a
Notary,State of WI,County of Brown verbatim record of the pr irngs is made, which record Kt.
dudes the testimony and ce upon which the app�r{w to
be based. Please contact cpicewupon at et
all .Mh
Fir. any questions or concerns.
�j ci t ki ry ��u b�r HOUSING FINANCE AUTHORiTYIc COwER coutvty
i State r3f W sscon'C n By:Ronald A,Pickworth
General Counsel and Executive Director
Pub Date: August 17,2020 #4331850
My commission expires August 6,2021
Publication Cost:$462.00
Ad No:0004331850
Customer No:1307145
PO#:
#of Affidavits 1
This is not an invoice
EXHIBIT A TO AUTHORITY RESOLUTION