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7.L. TEFRA (TAX EQUITY FISCAL RESPONSIBILITY ACT) PUBLIC HEARING <br />SET FOR SEPTEMBER 4. 2001- LINDSEY GARDENS II LTD. <br />INDUSTRIAL BOND APPLICATION <br />The Board reviewed a Memorandum of August 1, 2001: <br />TO. <br />THRU: <br />FROM: <br />SUBJECT: <br />August 1. 2001 <br />Boara of County Commjss]onerc <br />James E. Chandler. County Administrator <br />Joseph A. Baird. Assistant County Administrator �' <br />Request for and Notice of TEFRA (Tax Equity Fiscal <br />Responsibility Act) Public Hearing <br />Lindsey Gardens II Ltd. — a Florida Limited Partnership <br />Industrial Bond Application <br />Lindsey Gardens II Ltd., a Florida limited partnership wishes to apply for District 9B Industrial <br />Bond Allocation from the State so that the Florida Housing Finance Corporation can issue Multi - <br />Family Housing Revenue Bonds in a principal amount not to exceed 51,100.000. Lindsey <br />Gardens II will consist of 72 units located in Gifford at 4885 38th Circle. and to be occupied by <br />persons of low, moderate, and middle income. <br />In order for Lindsey Gardens II to be able to apply for Industrial Revenue Bond Allocation in <br />District 9B, Indian River County must hold a TEFRA public hearing. We are requesting <br />permission to hold a TEFRA public hearing on Tuesday, September 4, 2001. <br />RECOMMENDATION <br />Staff recommends the Board approve holding a TEFRA Public Hearing on September 4, 2001 <br />for Lindsey Gardens II so they can apply for an Industrial Revenue Bond Allocation. <br />ON MOTION by Commissioner Macht, <br />SECONDED by Commissioner Stanbridge. the <br />Board, by a 4-0 vote (Commissioner Adams absent) <br />unanimously approved holding a TEFRA Public <br />Hearing on September 4, 2001, for Lindsey Gardens <br />II so they can apply for an Industrial Revenue Bond <br />Allocation, as recommended by staff. <br />AUGUST 7, 2001 <br />-35- <br />a a r <br />'i1 3 FG 3 14 G <br />• <br />