Interoffice Memorandum
DATE: April 29, 2026
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: N/A
FROM: Frantz Dutes, Orange County Housing Finance Authority, Executive Director
CONTACT: Shawn Tan, Director, Program Operations
PHONE: 407-894-0014, Ext 806
DIVISION: N/A
ACTION REQUESTED:
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Approval and execution of Resolution 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 Stonebridge Landings Apartments, a residential rental community in Orange County, Florida. District 3. (Orange County Housing Finance Authority)
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PROJECT:
Stonebridge Landings Apartments is a 272-unit affordable housing rental development located at 7603 Fort Desoto Street, Orlando, Florida 32822.
PURPOSE:
The proposal is for the acquisition, rehabilitation, and equipping of Stonebridge Landings Apartments located in Orange County, Florida, District 3. The development consists of 24 one-bedroom, 140 two-bedroom, and 108 three-bedroom units, all rent restricted to households earning 60% or below of the Area Median Income. The proposed rent ranges from $1,204 to $1,658. The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) created a requirement that all industrial development bonds issued after December 31, 1982, for the purpose of financing multi-family housing developments require the approval by the Orange County Housing Finance Authority (the Authority), and each governmental unit having jurisdiction over the area in which the bond financed facility will be located. Accordingly, the Authority is seeking approval and execution of the attached Resolution to facilitate financing for the proposed project. Complete project information is included in the document.
BUDGET: N/A