Interoffice Memorandum
DATE: August 3, 2026
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: N/A
FROM: Kenneth Artin on behalf of Capital Projects Finance Authority
CONTACT: Kenneth Artin, Bryant Miller Olive P.A.
PHONE: 407-426-7001
DIVISION: N/A
ACTION REQUESTED:
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Approval and execution of Resolution and Interlocal Agreement between Orange County, Florida and the Capital Projects Finance Authority regarding the issuance of the Authority's Student Housing Revenue Bonds in an aggregate principal amount not to exceed $160,000,000 by and between Capital Projects Finance Authority and Orange County. District 5. (Capital Projects Finance Authority and Fiscal and Business Services Division)
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PROJECT:
The Verge Orlando, an approximately 930-bed apartment student housing community consisting of 21 residential buildings located at 11841 Jefferson Commons Circle, Orlando, Florida 32826.
PURPOSE:
The proceeds from the sale of the Bonds will be loaned by the Authority to SFP - Knightro, LLC, a Florida limited liability company (the "Borrower"), the sole member of which is Strategic Facility Partners, Inc., an Ohio not for profit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended ("SFP") for the purposes of (i) financing the costs related to the acquisition, renovation, furnishing, construction, improvement and equipping of an approximately 930-bed apartment style student housing community, known as "The Verge Orlando," consisting of 21 residential buildings with a mix of studio through four-bedroom units and accompanying amenities, including fitness facilities, a resort-style pool, and recreational courts, all situated on an approximately 21.1 acre tract located at 11841 Jefferson Commons Circle, Orlando, Florida, (ii) funding of debt service reserves for the Bonds, if deemed necessary or desirable, (iii) funding of capitalized interest for the Bonds, if deemed necessary or desirab...
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