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 4)
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 MULTIFAMILY MORTGAGE REVENUE NOTE, SERIES 2026A (PINNACLE AT CYPRESS) IN A PRINCIPAL AMOUNT OF NOT TO EXCEED $5,200,000 AND ITS MULTIFAMILY MORTGAGE REVENUE NOTE, SERIES 2026B (PINNACLE AT CYPRESS) IN A PRINCIPAL AMOUNT OF NOT TO EXCEED $14,800,000 (COLLECTIVELY, THE "NOTES") FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A MULTIFAMILY PROJECT KNOWN AS PINNACLE AT CYPRESS LOCATED IN BROWARD COUNTY, FLORIDA; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A LAND USE RESTRICTION AGREEMENT BY AND AMONG THE HFA, THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS FISCAL AGENT AND PINNACLE AT CYPRESS, LLLP, AS BORROWER; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FUNDING LOAN AGREEMENT AMONG THE HFA, JPMORGAN CHASE BANK, N.A., BANK OF AMERICA, N.A., AND THE FISCAL AGENT; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BORROWER LOAN AGREEMENT BY AND BETWEEN THE HFA AND THE BORROWER; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A PLACEMENT AGENT AGREEMENT FOR THE NOTES BY AND BETWEEN THE HFA AND RAYMOND JAMES & ASSOCIATES, INC.; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FISCAL AGENT FEE AGREEMENT BY AND BETWEEN THE HFA AND THE FISCAL AGENT; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE ALLONGE TO THE BORROWER NOTES; APPROVING AND AUTHORIZING THE EXECUTION OF THE ASSIGNMENT OF MORTGAGE AND SECURITY DOCUMENTS; ACKNOWLEDGING AND CONSENTING TO SUBORDINATE FINANCING; APPROVING AND AUTHORIZING THE EX...
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