Item C
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: August 21. 2004
Division:
County Administrator
Bulk Item: Yes
No~
Department: County Administrator
AGENDA ITEM WORDING:
Approval for the Administration to proceed with the initial steps for debt financing for the wastewater
program and acquisition of property for affordable housing.
ITEM BACKGROUND:
In the understanding with the State of Florida, the County has agreed to provide $40 million of bond
funds to support wastewater projects in unincorporated Monroe County, including the Key Largo
Wastewater District. In addition, funds available to the Land Authority would be utilized to support a
bond issue of $10 million for the acquisition of property for affordable/workforce housing. With the
challenge to the proposed Rule, there is great concern that progress will be slowed down. Therefore,
the Mayor has asked the Administration to proceed with the preliminary steps leading to the financing
so that the County is working toward its obligations. If the Board of County Connnissioners approves
this agenda item, there will be at least two more opportunities to vote on the financing. These will be
at least the authorization of the debt resolution and the acceptance of any bids for the bond.
PREVIOUS RELEVANT BOCC ACTION:
N/A
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATIONS:
Approval.
TOT AL COST: None at this time.
BUDGETED: Yes ~ No
COST TO COUNTY: None at this time.
SOURCE OF FUNDS:
REVENUE PRODUCING: Yes
No
AMOUNTPERMONTH_ Year
DIVISION DIRECTOR APPROVAL:
OMB/Purchasing _ Risk Management _
--::T~I? ~
James L. Roberts
APPROVED BY: County Atty _
DOCUMENTATION:
Included
To Follow
Not Required X
AGENDA ITEM # G .
DISPOSITION: