27796725 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 27796725
Notice of Meeting/Workshop Hearing

Division:	Bryant Miller Olive


Overview



	The Capital Trust Authority announces a hearing to which all persons are invited.

DATE AND TIME:	Wednesday, November 29, 2023 at 11:00 A.M. CST/12:00 P.M. EST

PLACE:	Telephonic conference, using the telephone conference instructions provided herein.

Subject:	NOTICE OF TELEPHONIC PUBLIC HEARING The Capital Trust Authority (the "CTA") has been requested by IPS Enterprises, Inc., a Texas not for profit corporation, and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), and/or one or more related and/or affiliated entities (collectively, the "Borrower"), to issue its Educational Facilities Revenue and Revenue Refunding Bonds, in one or more series of tax-exempt qualified 501(c)(3) bonds or taxable bonds, in an aggregate principal amount not to exceed $87,000,000 (the "Bonds"). For the purposes of Section 147(f) of the Code, notice is hereby given that, in accordance with the Internal Revenue Service Revenue Procedure 2022-20, a telephonic public hearing will be held by a hearing officer on behalf of the CTA on Wednesday, November 29, 2023 at 11:00 A.M. CST/12:00 P.M. EST, or as soon thereafter as the matter may be heard, using the telephone conference instructions provided herein. The purpose of the hearing is to take public comments regarding the issuance of said Bonds by the CTA, the nature and location of the Project (hereinafter defined) and the plan of finance. The proceeds of the Bonds will be loaned to the Borrower by the CTA for the purpose of financing and refinancing, including through reimbursement, (i) the refinancing of certain outstanding loans of the Borrower, the proceeds of which were used to finance certain educational facilities as more fully described below (the "Refinanced Facilities") being located in Hillsborough County, Florida and Duval County, Florida; (ii) the construction, furnishing and equipping of certain improvements to the Refinanced Facilities; (iii) the financing or refinancing of certain additional facilities as more fully described below (the "Additional Facilities") being located in Hillsborough County, Florida, Duval County, Florida and Polk County, Florida (collectively, the "Counties"); (iv) the financing or refinancing of other professional services associated with charter school facilities owned by the Borrower in the Counties, if deemed necessary or desirable; (v) the funding of a debt service reserve fund for the Bonds, if deemed necessary or desirable; and (vi) the payment of certain bond issuance costs of the Bonds (collectively, the "Project"). The Refinanced Facilities consist primarily of the following educational facilities and real property: (i) an existing approximately 107,000 square foot charter school facility to accommodate approximately 1,905 students in grades K-8 known as "IDEA Victory," located on approximately 9.01 acres of land, located at 11612 North Nebraska Avenue, Tampa, Hillsborough County, Florida 33612, including related facilities, fixtures, furnishings and equipment located thereon; (ii) an existing approximately 71,500 square foot charter school facility to accommodate approximately 1,905 students in grades K-8 known as "IDEA Hope," located on approximately 7.56 acres of land, located at 5050 East 10th Avenue, Tampa, Florida, Hillsborough County, Florida 33618, including related facilities, fixtures, furnishings and equipment located thereon; (iii) an existing approximately 81,000 square foot charter school facility to accommodate approximately 1,905 students in grades K-7 known as "IDEA River Bluff," located on approximately 14.43 acres of land, located at 2354 University Boulevard North, Jacksonville, Duval County, Florida 32211, including related facilities, fixtures, furnishings and equipment located thereon; and (iv) an existing approximately 77,000 square foot charter school facility to accommodate approximately 1,272 students in grades K-7 known as "IDEA Bassett," located on approximately 26.41 acres of land, located at 1845 Bassett Road, Jacksonville, Duval County, Florida 32208, including related facilities, fixtures, furnishings and equipment located thereon. The plan of finance contemplates that the CTA will issue, in respect to the Project, not exceeding $87,000,000 in aggregate principal amount of its Bonds, in one or more series of tax-exempt qualified 501(c)(3) bonds or taxable bonds, and loan the proceeds of the Bonds to the Borrower to provide funds for the Project. The Refinanced Facilities and the Additional Facilities will be owned by the Borrower, or an affiliate thereof or another entity chosen by the Borrower. The Additional Facilities consist of the following real property: (i) approximately 13.93 acres of land, located at 1254 Lane Avenue South, Jacksonville, Duval County, Florida 32205, including related facilities, fixtures, furnishings and equipment located thereon, owned by the Borrower; (ii) approximately 12.67 acres of land, located at 10414 Hart Pond Road, Thonotosassa, Hillsborough County, Florida 33592, including related facilities, fixtures, furnishings and equipment located thereon, owned by the Borrower; (iii) approximately 2.50 acres of land, located at 9839 Skewlee Road, Thonotosassa, Hillsborough County, Florida 33592, including related facilities, fixtures, furnishings and equipment located thereon, owned by the Borrower; (iv) approximately 27.83 acres of land, located at 603 Reynolds Road, Lakeland, Polk County, Florida 33801, including related facilities, fixtures, furnishings and equipment located thereon, owned by the Borrower; (v) an approximately 101,781 square foot four-story building serving up to 1,645 students in grades K- 8 and accommodating approximately 69 classrooms, to be known as "IDEA Blanding," and located on one parcel of real property consisting of approximately 12.92 acres located at 4949 Blanding Boulevard, Jacksonville, Florida 32210, owned by IPS Florida LLC; and (vi) an approximately 80,000 square foot building and ancillary facilities operated as a charter school located at 1775 Interstate Drive, Lakeland, Florida 33805, owned by the Borrower. The Bonds, when issued, will be special, limited obligations payable solely out of the revenues, income and receipts pledged to the payment thereof and derived from financing agreements with the Borrower, and none of the CTA, the Counties, the School District of Hillsborough County, the School District of Duval County and the School District of Polk County (collectively, the "School Districts"), or the State of Florida (the "State") will be obligated to pay the principal of, premium, if any, or interest on the Bonds except from the payments of the Borrower. The Bonds and the interest thereon shall never (i) pledge the taxing power of the Counties, the School Districts, the State or any other political subdivision, public agency or municipality thereof within the meaning of any constitutional or statutory provision, (ii) constitute the debt or indebtedness of the CTA, the Counties, the School Districts, the State or any other political subdivision, public agency or municipality thereof within the meaning of any constitutional or statutory provision, or (iii) pledge the full faith and credit of the CTA, the Counties, the School Districts, the State or any political subdivision, public agency or municipality thereof. CTA has no taxing power. Issuance of the Bonds is subject to several conditions including satisfactory documentation and receipt of necessary approvals for the financing. INTERESTED PERSONS ARE ENCOURAGED TO ATTEND BY TELEPHONE CONFERENCE USING THE INSTRUCTIONS BELOW. ANY PERSONS WISHING TO PRESENT ORAL COMMENTS IN PERSON MUST NOTIFY THE CTA BY WRITTEN NOTICE AT LEAST 24 HOURS BEFORE THE HEARING, IN ORDER THAT SOCIAL DISTANCING ACCOMMODATIONS MAY BE MADE FOR THOSE IN ATTENDANCE. PRIOR TO SAID TELEPHONIC PUBLIC HEARING, WRITTEN COMMENTS MAY BE DELIVERED TO THE CTA AT 315 FAIRPOINT DRIVE, GULF BREEZE, FLORIDA 32561, ATTENTION EXECUTIVE DIRECTOR. TELEPHONE CONFERENCE INSTRUCTIONS: TOLL FREE DIAL IN NUMBER: (800) 747-5150 CONFERENCE CODE: 6545833 At the date and time fixed for said telephonic public hearing all who appear in person or by telephone conference will be given an opportunity to express their views for or against the Project and the proposed approval of the issuance of said Bonds by the CTA and the plan of finance. All persons are advised that, if they decide to appeal any decision made with respect to the proposed approval of the issuance of said Bonds, they will need a record of the proceedings, and for such purpose, they may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. All interested persons are invited to present their comments on the date and time set forth above. IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT OF 1990, AS AMENDED, ALL PERSONS WHO ARE DISABLED AND WHO NEED SPECIAL ACCOMMODATIONS TO PARTICIPATE IN THIS TELEPHONIC PUBLIC HEARING BECAUSE OF THAT DISABILITY SHOULD CONTACT THE HEARING OFFICER AT (850) 934-4046 AT LEAST 48 HOURS IN ADVANCE OF THE HEARING, EXCLUDING SATURDAY AND SUNDAY.


	A copy of the agenda may be obtained by contacting: The Hearing Officer at (850)934-4046.

PRINT PUBLISH DATE:	11/22/2023 Vol. 49/227


REFERENCE MATERIALS:	No reference(s).

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