HomeMy WebLinkAbout1979-010R E S O L U T I O N
WITNESSETH:
No. 79-10
WHEREAS, the State of Florida has recognized a critical shortage of
affordable housing throughout the State for low to moderate income citizens;
and
WHEREAS, Chapter 78-89, Laws of Florida, provides authority for each
county to create a Housing Finance Authority with powers to attract private
capital to satisfy such shortage; and
WHEREAS, Indian River County desires to immediately proceed to evaluate
and determine its need to establish a County Housing Finance Authority; and
WHEREAS, William R. Hough & Co. has considerable experience and is
eminently qualified in local goverment financing with a long, successful
record of helping Florida communities solve their financial needs; and
WHEREAS, William R. Hough & Co. is thoroughly familiar with the Florida
Housing Finance Authority Act and the Internal Revenue Code of 1954, as
amended, which together provide a means for the county to provide financing of
mortgage loans through the issuance of tax-exempt bonds; and
WHEREAS, William R. Hough & Co. has the depth of expertise in this field
of financing to insure the prompt implementation of the desired program; and
WHEREAS, William R. Hough & Co. proposes to diligently and professionally
assist the County staff and others designated to work in this program to
specifically identify the shortages of housing and capital investments for
such housing in Indian River County;
NOW THEREFORE, be it resolved that:
William R. Hough & Co. is hereby authorized to proceed
to coordinate and assist in the efforts of the County
agencies and others in determining the shortage of
affordable housing and of capital for investment in such
housing in Indian River County. It is specifically
understood that the County shall not be financially or
otherwise obligated to William R. Hough & Co, for its
assistance in this undertaking.
ATTEST:- r
re ar g tom,-Z.f1..
Adopted: January 10, 1979
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
William •o t e, .,airman