Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Public Works and Environmental Services
Division: Housing Finance Authority
Information
Requested Action
title
MOTION TO ADOPT Resolution, the title of which is as follows: (Commission District 1)
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”) IN THE AGGREGATE AMOUNT NOT TO EXCEED $46,000,000 OF ITS MULTIFAMILY HOUSING REVENUE NOTE, 2026 SERIES A-1 (FALLS AT BONAVENTURE) (THE “2026 SERIES A-1 NOTE”) AND ITS SUBORDINATE MULTIFAMILY HOUSING REVENUE NOTE, 2026 SERIES A-2 (FALLS AT BONAVENTURE) (THE “2026 SERIES A-2 NOTE” AND, TOGETHER WITH THE 2026 SERIES A-1 NOTE, THE “NOTES”) FOR THE PURPOSE OF FINANCING THE ACQUISITION, REHABILITATION AND EQUIPPING OF FALLS AT BONAVENTURE 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 NOTES; APPROVING THE FORMS OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE FOLLOWING DOCUMENTS IN CONNECTION WITH (I) THE 2026 SERIES A-1 NOTE: (A) A FUNDING LOAN AGREEMENT BY AND AMONG THE HFA, BERKELEY POINT CAPITAL LLC, D/B/A NEWMARK, AS FUNDING LENDER (THE “FUNDING LENDER”), AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS FISCAL AGENT (THE “FISCAL AGENT”); (B) PROJECT LOAN AGREEMENT BY AND AMONG THE HFA, THE FISCAL AGENT AND FALLS AT BONAVENTURE, LLC (THE “BORROWER”); (C) A LAND USE RESTRICTION AGREEMENT BY AND AMONG THE HFA, THE FISCAL AGENT AND THE BORROWER (THE “LAND USE RESTRICTION AGREEMENT”); (D) AN ASSIGNMENT OF SECURITY INSTRUMENT BY THE HFA TO THE FISCAL AGENT; (E) AN ASSIGNMENT OF THE PROJECT NOTE BY THE HFA TO THE FISCAL AGENT; (F) A PLACEMENT AGENT AGREEMENT BY AND BETWEEN THE HFA...
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