Title:
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Approve and authorize the Chairman to execute a Resolution of the Board of County Commissioners of Seminole County, Florida, approving the issuance by the Palm Beach County Health Facilities Authority of that Authority’s revenue bonds, in one or more series, for the purpose of providing funds to make a loan or loans to Lifespace Communities, Inc. to, among other things, finance and refinance certain facilities located in Seminole County, Florida; and providing for an effective date. Countywide (Kate Latorre, County Attorney). This action is in addition to a prior approval granted by the Board in 2018, 2021, 2022 and 2024 to allow for additional funds for the project. Countywide (Kate Latorre, County Attorney)
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Division:
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County Attorney Office
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Authorized By:
Kate Latorre, County Attorney
Contact/Phone Number:
Kate Latorre/407-665-7250
Background:
Lifespace has requested assistance in providing “host approval” under Section 147(f) of the Internal Revenue Code in connection with the proposed issuance of tax-exempt revenue bonds by the Palm Beach County Health Facilities Authority (“PBCHFA”) pursuant to Chapter 154, Part III, and Chapter 159, Part II, Florida Statutes for the benefit of Lifespace Communities and Village on the Green.
Seminole County and PBCHFA have previously entered into an Interlocal Agreement dated October 11, 2016, pursuant to which PBCHFA has previously issued revenue bonds on behalf of Lifespace to finance and refinance improvements to the Village on the Green community in Seminole County. PBCHFA anticipates issuing additional revenue bonds on behalf of Lifespace in the aggregate principal amount not to exceed $325,000,000 to finance and refinance additional improvements to certain Florida communities owned and operated by Lifespace, including improvements to Village on the Green.
All documents have been reviewed by Joseph Stanton of Nelson Mullins Riley & Scarborough LLP, County Bond Counsel.
The required public hearing was held on March 11, 2026, telephonically, by Samantha Lawlor of Gilmore & Bell, P.C., Bond Counsel, at 1:00 p.m.
Approval of the Resolution does not obligate Seminole County to incur liability, pecuniary or otherwise, in the subject transaction.
Requested Action:
Staff requests the Board approve and authorize the Chairman to sign a Resolution in accordance with Section 147(f) of the Internal Revenue Code approving the issuance by the Palm Beach County Health Facilities Authority of that Authority’s revenue bonds, in one or more series, for the purpose of providing funds to make a loan or loans to Lifespace Communities, Inc. to, among other things, finance and refinance certain facilities located or to be located in Seminole County, Florida.