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, solely for the limited purposes of Section 147(f) of the Internal Revenue Code, the expenditure of the proceeds of the Osceola County Housing Finance Authority (“OCHFA”) not to exceed $27,500,000 of its Revenue Bond Series (San Jose Apartment Project) for the purpose of providing funds to finance a multifamily residential rental project (121 residential units) located in Seminole County at 2353 Winter Woods Blvd., Winter Park, Florida 32792, as further described in the Resolution; and providing an effective date. (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/407-665-7257
Background:
This Resolution previously came before the Board and was adopted on December 10, 2024. However, the Internal Revenue Code and regulations provide that TEFRA approvals are generally valid for one year from the date of County approval. The project developer was unable to close on the bonds within this one-year period primarily due to the government shutdown which delayed HUD approval required for the issuance of the bonds. Therefore, adoption of a new Resolution is required.
The required public hearing was held by the OCHFA on November 20, 2025.
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 execute a Resolution approving, solely for the limited purposes of Section 147(f) of the Internal Revenue Code, the expenditure of the proceeds of the OCHFA not to exceed $27,500,00.00 of its Multifamily Housing Revenue Bond Series (San Jose Apartment Project) for the purpose of providing funds to finance a multifamily residential rental project located in Seminole County at 2353 Winter Woods Blvd., Winter Park, Florida 32792.