HomeMy WebLinkAboutMinutes 01-29-2008
ST. LUCIE COUNTY HOUSING FINANCE AUTHORITY
TUESDAY, JANUARY 29, 2008 AT 3:30 PM
LAW LIBRARY, COUNTY ATTORNEY’S OFFICE
2300 VIRGINIA AVENUE, ANNEX BLDG.
FORT PIERCE, FLORIDA
MINUTES OF MEETING
1.ROLL CALL:
MEMBERS PRESENT:Bob Davis, Tricia Swift-Pollard, Jill Olen, Pieter
Stryker
MEMBERS ABSENT:Kim Williams (unexcused absence)
OTHERS PRESENT:Katherine Mackenzie-Smith, Assistant County
Attorney
2.APPROVAL OF MINUTES FROM THE DECEMBER 19, 2007 MEETING
AND THE MINUTES FROM THE JANUARY 7, 2008 MEETING:
The Chair asked if he could have a motion to approve the minutes. Ms. Swift
Pollard made a motion to approve the minutes, Mr. Stryker seconded the
motion and the motion carried.
3.DISCUSSION OF MULTI-FAMILY TAX EXEMPT BOND APPLICATION
A review of Volusia County, Brevard County and Orange County’s Tax Exempt
Bond Program was discussed. It was pointed out that Application fees varied
throughout the counties. Good faith estimates commonly were 1/2 of 1%
subject to a minimum. There was usually a Credit Underwriting Fee for Credit
Underwriting Report and the fees would be the borrower’s obligation.
The Board discussed the fact that they wanted a developer friendly application
and wanted to use a model that is similar to other issuers. The developer could
“package” it and make it easy, but not frivolous.
Mr. Reed suggested they require control by requiring a $3,000 to $5,000
application fee. The Housing Authority will have expenses incurred to monitor
the program and auditing of the program. If there is a third party engaged for
compliance monitoring, the applicant has to pay for it.
A motion was made by Ms. Swift-Pollard to model the Procedures and
Guidelines after Brevard/Volusia’s with revised fees, but to use our current
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application. The motion was seconded by Ms. Olen and the motion carried.
ADJOURN
4.
Chairman Davis asked if any members had any other business to come before
the Authority. Hearing none, the meeting was adjourned.
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