5.b.
FPRA Special Meeting - 2:00 p.m.
- Meeting Date:
- 11/12/2019
- Re
- Sale of VCTC Certificate
- Submitted For:
- Nick Mimms
SUBJECT:
FPRA Resolution 19-03 authorizing proceeding with the sale of Voluntary Cleanup Tax Credit Certificate Number 1005 utilizing Fallbrook Credit Finance as the placement agent.
SUMMARY:
The sale of the final Bonus Voluntary Cleanup Tax Credit Certificate Number 1005 in the amount of $500,000 from the Florida Department of Environmental Protection for the remediation of the former H.D. King Plant site. Fallbrook is an experienced placement agent that has been utilized previously for the sale of tax certificates, and is expected be used for this instance as well.
Proposed FPRA Resolution 19-03 was reviewed and approved as to Form and Correctness on October 28, 2019 by the City Attorney.
Proposed FPRA Resolution 19-03 was reviewed and approved as to Form and Correctness on October 28, 2019 by the City Attorney.
RECOMMENDATION:
Staff recommends approval.
ALTERNATIVES:
Staff will proceed as directed by the FPRA Board.
RESPONSIBLE STAFF:
Nicholas C. Mimms, City Manager
COORDINATED WITH:
Peter J. Sweeney, City Attorney
Fiscal Impact
OTHER INFORMATION:
The fiscal impact will be determined upon sale of the certificate.
Attachments
- Memo from City Manager
- FPRA Resolution 19-03
- Interlocal Agreement with FPUA
- Redevelopment Incentive Program
- Memo from FPUA Director