Frantz Dutes

The Board of Directors meeting agenda included several key items. Under the Consent Agenda, discussions involved the Multi-Family Housing Revenue Bonds Pipeline Report, consideration for the transfer of interest in the Nassau Bay Apartments to an affiliate of Nuveen Global Investments, LLC, and approval of contracts for Bond Counsel Services and General Counsel Services. Financial Management items included acknowledgments of the consolidated balance sheet for the Operating Fund (as of December 31, 2025) and the GAP Loan Report. Program Operations involved acknowledgements of the status of the Single-Family Homeowner Revenue Bond (HRB) Program and the Multi-Family Occupancy Report. The Discussion Agenda focused on requesting approval for Bond Resolution 2026-1 for the Crossroads Apartments acquisition/rehabilitation (not to exceed $25MM) and Bond Resolution 2026-2 for the Palm Grove Garden Apartments acquisition/rehabilitation (not to exceed $30MM). The package also included final contracts for Bond Counsel (Bryant Miller Olive PA) and General Counsel (Greenberg Traurig, PA), which were approved in the previous meeting.

The Board of Directors meeting agenda included several items for consideration. The consent agenda covered the adoption of prior meeting minutes (February 4, 2026 Board meeting and February 11, 2026 Finance Committee meeting), a Multi-Family Housing Revenue Bonds Pipeline Report, Gap Loan Guidelines, a Remote Work Policy, and Significant Accomplishments. The discussion agenda focused on the adoption of the Fiscal Year 2025 Audited Financial Statements, a request for Reimbursement Resolution 2026-3 for Multi-Family Tax Exempt Bonds for the Clarcona Groves Apartments, and requests for approval of Bond Resolutions 2026-1 and 2026-2 related to the Crossroads Apartments ($25MM) and Palm Grove Garden Apartments ($30MM) acquisition and rehabilitation projects, respectively. Discussions also included a review of the newly developed Gap Loan Guidelines and the proposed Remote Work Policy.

The key discussions for this Board of Directors meeting include the approval and adoption of the Authority's proposed Operating Budget for Fiscal Year 2025/2026, which projects total revenues of approximately $3.23 million and net income of about $1.23 million. Other major agenda items involve the approval of a Request for Proposal (RFP) for Bond Counsel and General Counsel Services, as the current contract expires shortly. Furthermore, the board will consider the approval of a resolution for Multi-Family Housing Revenue Bonds not to exceed $30MM for the Osprey Sound Phase 2 Apartments, which is a 116-unit project restricted to seniors (62+). The board will also consider a proposed resolution for the Single-Family Mortgage Revenue Bond Program seeking an allocation not to exceed $200MM to replace an expired 3-year Plan of Financing. Finally, the board is expected to adopt an Issuer Fee Policy regarding 'Related Party' transactions.

The agenda for the Board of Directors meeting covered several segments. The Consent Agenda included the ratification of minutes from a previous Board of Directors meeting and an Ad Hoc Committee meeting. Under the Executive Director's Office, items included the Multi-Family Housing Revenue Bonds Pipeline Report and the Board Meeting Schedule for 2026. Financial Management discussions covered the acknowledgement of the consolidated balance sheet for the Operating Fund, various fund comparisons (budget vs. actual, actual revenues & expenses), operating fund investments summary, and the GAP Loan Report. Program Operations involved acknowledgement of the Current Status of the Single-Family Homeowner Revenue Bond Program and the Multi-Family Occupancy Report. The Discussion Agenda focused on the annual election of the Chair and Vice Chair, appointment of a member to the Program Committee, and consideration of staff negotiations for retaining Bond Counsel and General Counsel services from recommended firms.

The Board of Directors' meeting package scheduled for September 6, 2023, included several Consent Agenda items for review. These items covered General Administration, the Executive Director's Office, Financial Management, and Program Operations. Financial Management included acknowledgements of the consolidated balance sheet for the Operating Fund as of July 31, 2023, the combined statement of revenues, expenses, and changes in retained earnings, the comparison of Fiscal Year 2023 budget versus actuals as of July 31, 2023, and the comparison of actual revenues and expenses between July 31, 2022, and July 31, 2023. Program Operations involved acknowledgements of the current status of the Single-Family HRB Program and the Multi-Family Audit Period. Additional memoranda provided updates on Opportunity Zones status and Warrant List #559 for payments made through August 27, 2023, along with the Operating Fund investment summary as of July 31, 2023. There were no discussion items listed under the Executive Director's section.