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2025-023
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Last modified
6/6/2025 9:41:23 AM
Creation date
6/6/2025 9:29:47 AM
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Resolutions
Resolution Number
2025-023
Approved Date
06/03/2025
Agenda Item Number
11.A.1.
Resolution Type
Multi-Family Revenue Bonds
Entity Name
Orchard Grove Apartments
Subject
Housing Finance Authority of St. Lucie County, not to exceed $28,000,000 Multi-Family Housing
revenue bonds (Orchard Grove Apartments)
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RESOLUTION 2025- 023 <br />out of any funds other than those pledged and assigned under the Indentures and the Loan <br />Agreements. <br />Section 3. The approval given herein is solely for the purpose of satisfying the <br />requirements of Section 147(f) of the Code and shall not be construed as an approval of any <br />necessary rezoning application or any regulatory permits required in connection with the issuance <br />of the Bonds or the construction of the Project, and this Board shall not be construed by virtue of <br />its adoption of this Resolution to have waived, or be estopped from asserting, any rights or <br />responsibilities it may have in that regard. <br />Section 4. The approval given herein is solely for the purpose of approving the project, the <br />plan of finance, and the bonds herein described. The Board reserves the right to consent to any <br />additional project to be financed within the jurisdictional limits of the County upon such terms as <br />it shall deem appropriate and to adopt and amend policies applicable to obtaining such consents. <br />Section 5. It is a condition of the approval given herein that a Land Use Restriction <br />Agreement with a Qualified Project Period of not less than thirty-five years be executed and <br />delivered in connection with the issuance of the bonds described herein. <br />The foregoing resolution was moved for adoption by Commissioner Adams <br />and seconded by Commissioner F 1 e s the r , and upon being put to a vote, the vote was <br />as follows: <br />Chairman Joseph E. Flescher <br />AYE <br />Vice Chairman Deryl Loar <br />AYE <br />Commissioner Joe Earman <br />AYE <br />Commissioner Susan Adams <br />AYE <br />Commissioner Laura Moss <br />AYE <br />
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