4/10/2001 - Laserfiche WebLink

Home Browse Search

TF _ _ 7 n am .-. -- 4PANIES - ida Limited T mm PROOF OF PUBLICATION OF ADVERTISEMENT FOR HEARING IS ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD The Board reviewed a Memorandum of April 4, 2001: TO: Board of County Commissioners THRU: James E. Chandler, Countv Administrator FROM: Joseph A. Baird, Assistant County Administrator DATE: April 4, 2001 SUBJECT: TEFRA (Tax Equity Fiscal Responsibility Act) Hearing Brisben Companies — The Palms at Vero Beach Limited, a Florida Limited Partnership - Industrial Bond Application The Board of County Commissioners approved holding a TEFRA hearing to enable Brisben Companies — The Palms at Vero Beach Limited, a Florida limited partnership to apply for District 9B Industrial Bond Allocation from the State so that the Florida Housing Finance Corporation can issue Multi -Family Housing Revenue Bonds in a principal amount not to exceed 51,500.000 utilizing the local allocation and the proposed issuance by the Corporation of its Multi -Family Housing Revenue Bonds (The Palms at Vero Beach Project) in an aggregate principal amount not to exceed S 11.500,000 with the combined allocation. The Palms of Vero Beach will consist of 260 units located at the northwest comer of Indian River Boulevard and 12`" Street, Vero Beach, Florida, to be occupied by persons of low, moderate and middle income, and owned and operated by The Palms at Vero Beach Limited, a Florida limited partnership. Following the Public Hearing, if the Board of County Commissioners wishes to grant Brisben Companies the abiliry to apply for the Industrial Revenue Bond Allocation in Distract 9B, the Board must approve the Resolution, Interlocal Agreement. and authorize the Chairman and staff to sign all necessary documents. RECOMMENDATION Staff recommends that the Board of County Commissioners approve the Resolution, Interlocal Agreement, and authorize the Chairman to sign all necessary documents. APRIL 10, 2001 -44-