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Multi-Family Housing Revenue Bonds (Gulf Breeze) by the Housing Finance Authority of Lee County, Florida.
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recommendation
Human Services
Conduct a Public Hearing to consider a Resolution approving the issuance of Housing Finance Authority of Lee County, Florida, Multifamily Housing Revenue Bonds, Series 2026 in aggregate principal amount not to exceed $32,000,000, for the Gulf Breeze Apartments Project, pursuant to Chapter 259, Part IV, Florida Statutes, as amended, and the Interlocal Agreement previously entered into between the County and the Housing Finance Authority of Lee County, Florida.
**Change, Added attachment - Presentation, 4/27/2026**
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Budgeted Action:
No action needed.
Background:
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Gulf Breeze Apartments Partners, Ltd. is seeking 4% Low-Income Housing Tax Credits (LIHTC) in support of the rehabilitation of Gulf Breeze Apartments, located at 340 Gulf Breeze Avenue, Punta Gorda, FL 33950. Tax credits are issued in the form of multi-family mortgage revenue bonds (MMRBs). Housing Finance Authority of Lee County, Florida administers MMRBs on behalf of Charlotte County, pursuant to an Interlocal Agreement entered by the parties on March 16, 2017. Issuance of the MMRBs requires County approval following a public hearing.
Additionally, the Developer has agreed to undertake voluntary commitments in conjunction with the issuance of the bonds. The terms of those commitments have been outlined in the Acknowledgment Agreement being submitted for the Board's consideration and approval.
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Upon conclusion of the Public Hearing, the following action is recommended:
A) Approve the Acknowledgement Agreement between the County and Gulf Breeze Apartments Partners, Ltd.; and
B) Approve the Resolution authorizing the issuance of Housing Finance Authority of Lee County, Florida, Multifamily Housing Revenue Bonds, Series 2026 in aggregate principal amount not to exceed $32,000,000; and
C) Authorize the Chairman to sign the Ac...
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