At the June 7, 2016, Board of County Commissioners meeting, the board took the following action:
New South Bay Villas – adopted a resolution approving the issuance of up to $18.5 million in Housing Finance Authority multifamily housing revenue bonds for 131 multifamily rental units for qualified persons and families in South Bay to be known as New South Bay Villas. No county funds nor its taxing power, faith or credit are involved.
Grand Lake Apartments – approved State Housing Initiatives Partnership (SHIP) program funding in the amount of $494,000 for Grand Lake, LLC, for construction of Grand Lake Apartments, a $61 million, 384-unit multifamily rental project on Main Street in Belle Glade. These are state funds that require no local match.
Finance — received a presentation from the Clerk and Comptroller’s Office on the Palm Beach County comprehensive annual financial report for the fiscal year ending September 30, 2015.
Sikorsky Aircraft – approved on preliminary reading and to advertise for public hearing on June 21 an ad valorem tax exemption of up to $125,575 over a three-year period and an economic development cash incentive of $18,200 for Sikorsky Aircraft Corp. to expand a 33,000-square-foot addition to the company’s CH-53K Marine helicopter testing facility.
Project Falcon – conceptually approved an economic development incentive grant of up to $80,000 over eight years as a portion of the state’s qualified target industry tax refund for Project Falcon. The company is considering Palm Beach County for significant job growth and plans to invest $3 million to build out and renovate an existing building and create 200 new jobs over a five-year period at a median wage of $66,000.
Project P2P – conceptually approved an ad valorem tax exemption of up to $576,400 for Project P2P over nine years as a portion of the state’s qualified target industry tax refund and quick action closing fund programs. Project P2P is considering expanding its business operations and incorporating the company’s headquarters in the new facility that plans to make a $15 million capital investment and create 838 new jobs over a six-year period at a median wage of $55,000.
Royal Palm Place – adopted a resolution approving the issuance of up to $15 million in Housing Finance Authority multifamily housing revenue bonds for Royal Palm Place, a 125-unit rental housing development for qualified persons and families located at the northwest corner of 15th Street and Division Avenue in West Palm Beach. No county funds nor its taxing power, faith or credit are involved.
KRS Global Biotechnology – approved an economic development incentive agreement with KRS Global Technology, Inc. in the amount of $160,000. An industry-leading biotechnology company in pharmaceuticals, KRS is required to make a minimum $28 million capital investment, create 160 new full time jobs over a 51-month period at an average annual wage of $64,356 and a median wage of $58,000, and maintain the jobs for five years following the job creation period. The state is providing a total of $940,000, the city of Boca Raton $200,000, and Palm Beach County $160,000. KRS is expected to have a five-year economic impact of $273 million.
ACTS – adopted a resolution approving issuance of one or more series of PBC Health Facilities Retirement Communities revenue bonds (up to $138 million) to ACTS Retirement-Life Communities, Inc. to refinance Series 2010 revenue bonds and to finance three new projects in Boca Raton. No county funds nor its taxing power, faith or credit are involved.
Lake Delray Apartments – adopted a resolution approving the issuance of up to $34 million in Housing Finance Authority multifamily housing revenue bonds for construction of Lake Delray Apartments, a 404-unit multifamily rental housing development for the elderly located at 700 Lindell Blvd. in Delray Beach. No county funds nor its taxing power, faith or credit are involved.
Pat Reeves Village – approved an advance payment of $35,531 to the Center for Family Services (CFS) for operating costs at the Pat Reeves Village, the only homeless emergency shelter for homeless families with dependent children in the county. The shelter currently serves 19 families. Due to a significant decline in donations, CFS could not meet the shelter’s payroll or operating expenses for the month of June and was in danger of closing its doors.
Westgate-Belvedere Homes CRA – approved the sale of a .2-acre parcel owned by the Westgate-Belvedere Homes CRA located at 2640 Cherokee Avenue for $29,000 for redevelopment into a mixed-use project.
Promotion – ratified the appointment of Sherry Brown as director of Financial Management and Budget. Ms. Brown has worked for the county for approximately four years as assistant budget director. She replaces Liz Bloeser, who retired in May.