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RESOLUTION 2018 - 058
<br /> A RESOLUTION OF THE BOARD OF COUNTY
<br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA,
<br /> APPROVING INDIAN RIVER COUNTY AS AN AREA OF
<br /> OPERATION FOR THE ESCAMBIA COUNTY HOUSING
<br /> FINANCE AUTHORITY WITH RESPECT TO THE FINANCING
<br /> OR REFINANCING BY THE AUTHORITY OF THE
<br /> ACQUISITION, UPGRADING, RECONDITIONING,
<br /> REHABILITATING, IMPROVING AND BEAUTIFYING OF A
<br /> MULTI-FAMILY HOUSING FACILITY LOCATED IN INDIAN
<br /> RIVER COUNTY; PROVIDING FOR REPEAL OF
<br /> CONFLICTING PROVISIONS; AND PROVIDING AN
<br /> EFFECTIVE DATE.
<br /> BE IT RESOLVED BY THE BOARD OF COUNTY
<br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA,
<br /> SECTION 1. AREA OF OPERATION AUTHORITY.
<br /> Pursuant to Section 159.603, Florida Statutes, the Escambia County Housing Finance
<br /> Authority (the "Escambia Authority") previously has been granted area of operation permission
<br /> within Indian River County, Florida, for, the purpose of operating its TBA single-family
<br /> mortgage loan program and its mortgage credit certificate program. In addition, the Escambia
<br /> Authority is hereby granted area of operation authority, pursuant to Section 159.603, Florida
<br /> Statutes, to operate within Indian River County for the purpose of financing or refinancing the
<br /> costs of acquiring, upgrading, reconditioning, rehabilitating, improving and beautification by
<br /> Vero Beach Leased Housing Associates III, LLLP, a Minnesota limited liability limited
<br /> partnership, or its affiliate or subordinate corporation (as applicable, the "Company"), or a
<br /> limited liability company of which the Company is the managing member or a limited
<br /> partnership of which the Company is the general partner (as applicable, the "Borrower"), of an
<br /> existing multifamily rental housing facility presently containing 168 units to be known as the
<br /> Taylor Pointe Apartments (also known as the Lindsey Gardens Apartments/Phases I & II),
<br /> located at 4885 38th Circle, Vero Beach, Florida 32967 (the "Apartments"), to provide residential
<br /> rental housing facilities for persons of very low, low, middle, and moderate income.
<br /> SECTION 2. NO LIABILITY.
<br /> No portion of this Resolution shall be deemed to constitute a debt, liability or obligation
<br /> of or pledge of the faith and credit of Indian River County, Florida, the Escambia Authority, the
<br /> State of Florida, or any political subdivision thereof Financing or refinancing the Apartments
<br /> shall not directly, indirectly, or contingently, obligate the Escambia Authority, Indian River
<br /> County, Florida, the State of Florida, or any political subdivision thereof to levy or to pledge any
<br /> form of taxation whatsoever therefore, or to make any appropriation for the payment thereof.
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