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D <br />CHAIRMAN WODTKE STATED THAT HE LIKED VERY MUCH MR. BELL'S <br />PROPOSAL RE ESCROWING TAP -IN FEES. <br />IN FURTHER DISCUSSION, THE BOARD FELT THAT THEY HAD ANSWERED <br />MOST OF MR. BELL'S QUESTIONS IN THE PRECEDING DISCUSSION QN THE MORATORIUM. <br />CHAIRMAN WODTKE ASSURED MR. BELL THAT WE WILL WORK AS DILIGENTLY <br />AND AS QUICKLY AS POSSIBLE TO RESOLVE THIS SITUATION. q <br />COMMISSIONER SIEBERT STATED THAT HE IS DELIGHTED TO SEE SOME <br />PROVISION BEING MADE SOMEWHERE FOR AFFORDABLE HOUSING FOR FAMILIES WITH <br />YOUNG CHILDREN. <br />THE BOARD THEN ADJOURNED AT 12:05 O'CLOCK P.M. FOR LUNCH AND <br />RECONVENED AT 1:45 O'CLOCK P.M. WITH ALL MEMBERS PRESENT. <br />COMMISSIONER LOY BROUGHT UP THE SUBJECT OF -HOUSING FINANCE <br />AUTHORITIES AND STATED THAT THIS IS A NEW PROGRAM WHICH IS AVAILABLE IN <br />THE STATE OF FLORIDA. SHE NOTED THAT WILLIAM HOUGH & COMPANY HAD SUGGESTED <br />THEY WOULD BE GLAD TO STUDY OUR AREA TO SEE IF ANY OF THE LOCAL BANKS ARE <br />INTERESTED IN THIS PROGRAM. IF THE FINANCIAL INSTITUTIONS ARE NOT INTER- <br />ESTED, THEN THERE IS NO SENSE IN OUR GETTING INTO THIS. SHE NOTED THAT THE <br />BOARD DOES NOT HAVE THE TIME OR EXPERTISE TO DETERMINE THIS THEMSELVES. <br />INTERGOVERNMENTAL COORDINATOR THOMAS REPORTED THAT HE HAS <br />RECEIVED CALLS FROM FOUR OR FIVE OTHER BONDING COMPANIES IN THIS REGARD. <br />COMMISSIONER LYONS NOTED THAT ACTUALLY THE COUNTY GIVES THE TAX <br />FREE ASPECT TO THE SITUATION. <br />ATTORNEY COLLINS AGREED THAT UNDER THIS PROGRAM, THE COUNTY <br />GOES INTO THE BOND MARKET AND BORROWS THE MONEY, THEN ARRANGES WITH THE <br />FINANCIAL INSTITUTIONS A METHOD BY WHICH THE BORROWED MONIES CAN BE DIS- <br />TRIBUTED TO INDIVIDUALS OF LOW AND LOW/MODERATE BACKGROUNDS AT A RATE WHICH <br />IS A COUPLE POINTS ABOVE WHAT WE SOLD THE BONDS FOR, WHICH SHOULD WORK OUT <br />TO A COUPLE POINTS BELOW THE CURRENT MARKET, <br />COMMISSIONER LYONS STATED THAT HE LIKED THE IDEA AND ASKED IF <br />WE HAVE SOMETHING TO SAY ABOUT WHO GETS THESE LOANS. <br />ATTORNEY COLLINS STATED THAT THE ELIGIBILITY IS STATUTORILY <br />ESTABLISHED, AND THE MONEY CAN ONLY BE LENT TO LOW AND MODERATE INCOME <br />PERSONS, <br />JAN 10 1979 <br />118 <br />Boa. 38 PACE 409 <br />J <br />