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The Clerk of the Board is responsible for keeping accurate minutes and maintaining Board records for each Board of County Commissioner (BCC) and Value Adjustment Board (VAB) meeting. In addition, every 4 years, the Clerk of the Board office provides staff support to the Charter Review Commission (CRC) appointed by the BCC. Please contact our office if you need an accessible version of documents on this page, and one will be provided.

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File #: 25-141    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/8/2025 In control: County Administrator
On agenda: 1/28/2025 Final action: 1/28/2025
Title: Approval and execution of Resolution 2025-B-03 for the issuance of Multi-Family Housing Revenue Tax Exempt Bonds, in an amount not-to-exceed $47,000,000, to finance the acquisition, rehabilitation, and equipping of Valencia Trace Apartments, a residential rental community in Orange County, Florida, District 3. (Housing Finance Authority)
Attachments: 1. Valencia Trace Agenda Dev Packet, 2. 2025-01-28 County Administrator Consent Item-11, 3. Resolution 2025-B-03

Interoffice Memorandum

 

DATE: January 8, 2025

 

TO: Mayor Jerry L. Demings and County Commissioners

 

THROUGH: N/A

 

FROM: Frantz Dutes, Interim Executive Director, Orange County Housing Finance Authority

 

CONTACT: Shawn Tan, Director, Program Operations

 

PHONE: 407-894-0014

 

DIVISION: N/A

 

ACTION REQUESTED:

title

Approval and execution of Resolution 2025-B-03 for the issuance of Multi-Family Housing Revenue Tax Exempt Bonds, in an amount not-to-exceed $47,000,000, to finance the acquisition, rehabilitation, and equipping of Valencia Trace Apartments, a residential rental community in Orange County, Florida, District 3. (Housing Finance Authority)

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PROJECT: Acquisition and rehabilitation of Valencia Trace Apartments, an existing residential rental community in Orange County.

 

PURPOSE: On November 12, 2024, the Authority received an application for Multi-Family Tax Exempt Bonds from Valencia Trace (FL) Owner, L.P. in an amount not-to-exceed $47,000,000. The Tax Exempt Bonds will be used to finance the acquisition, rehabilitation, and equipping of Valencia Trace Apartments, an existing residential rental community with 229 units, located at 101 Grande Valencia Drive, Orlando, FL 32825. Monthly rents are projected to range from $1016-$1,588. The proposed Set-Aside is 100% at 60% or lower of the Area Median Income (AMI). The proposal was submitted under the Authority’s 2025 Open Cycle Application Process. Complete project information is included in the document.

 

BUDGET: N/A