TO: Board of County Commissioners
THROUGH: John A. Titkanich, Jr., County Administrator
THROUGH: Jennifer W. Shuler, County Attorney
FROM: Christopher A. Hicks, Esq.
DATE: April 22, 2025
SUBJECT: St. Lucie County Housing Finance Authority - Area of Operation Authority Resolution
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BACKGROUND
Earlier this year Community Services was approached by an affordable housing provider intending to renovate the Orchard Grove Apartments complex located at 1810 Woodland Circle, Vero Beach FL 32967. The housing provider is requesting the Board of County Commissioners to issue an Area of Operation resolution allowing them to seek bonds from the St. Lucie County Housing Finance Authority to finance the project. Florida Statute 159.603 allows counties without a local housing authority to give permission to other housing authorities to operate within their territory to issue financial instruments. Previously, Indian River County has granted Area of Operation authority to Escambia County Housing Finance Authority starting in 2013 and renewed in 2017 and 2020. This present request is for a single project through a program requiring the use of a Housing Authority located within our district.
ANALYSIS
The area of operation resolution.
BUDGETARY IMPACT
None
PREVIOUS BOARD ACTIONS
The Board has approved similar resolutions in the past. The last time was in 2020 for Orange Blossom Village.
POTENTIAL FUTURE BOARD ACTIONS
The Board will need to conduct a TEFRA hearing once the St. Lucie County Housing Finance Authority approves the issuance of a bond for this project.
STAFF RECOMMENDATION
Recommended Action
The Board of County Commissioners approve the Area of Operation Resolution to allow Vero Beach Leased Housing Associates IV, LLLP, a Minnesota limited liability limited partnership, to seek bond financing through the Housing Finance Authority of St. Lucie County for renovations, upgrading, improving, or any other lawful purpose to benefit the Orchard Grove complex.