Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
title
MOTION TO ADOPT Resolution, the title of which is as follows: (Commission District 9)
A Resolution of the Board of County Commissioners of Broward County, Florida authorizing the issuance by the Housing Finance Authority of Broward County, Florida (the "HFA") of its not to exceed $22,000,000 Multifamily Housing Revenue Note, Series 2024 (Woodsdale Oaks) (the "Note") for the purpose of financing the acquisition, rehabilitation and equipping of Woodsdale Oaks located in Broward County, Florida (the "Project"); establishing parameters for the award of the sale thereof and establishing criteria for determining the terms thereof, including interest rates, interest payment dates, maturity schedule and other terms of such Note; approving the forms of and authorizing the execution and delivery of (i) a Funding Loan Agreement by and among the HFA, Berkadia Commercial Mortgage LLC, as Funding Lender (the "Funding Lender"), and the Bank of New York Mellon Trust Company, N.A., as Fiscal Agent (the "Fiscal Agent"); (ii) Project Loan Agreement by and among the HFA, the Fiscal Agent and Woodsdale Oaks, LLC (the "Borrower"); (iii) a Land Use Restriction Agreement by and among the HFA, the Fiscal Agent and the Borrower; (iv) an Assignment of Security Instrument by the HFA to the Fiscal Agent; (v) an Assignment of the Project Note by the HFA to the Fiscal Agent; (vi) a Placement Agent Agreement by and between the HFA and Raymond James & Associates, Inc. and RBC Capital Markets, LLC, as Placement Agents; and (vii) a Fiscal Agent Fee agreement by and between the HFA and the Fiscal Agent; approving and authorizing the execution and delivery by the HFA of certain additional agreements necessary or desirable in connection with the issuance of the Note; approving and ratifying the HFA's...
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