9850949 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 9850949
Notice of Meeting/Workshop Hearing

Division:	Florida Development Finance Corporation


Overview



	The Florida Development Finance Corporation announces a hearing to which all persons are invited.

DATE AND TIME:	May 5, 2011, 2:00 p.m.

PLACE:	Enterprise Florida, Inc. Offices, 325 John Knox Road, Tallahassee, Florida 32303

Subject:	Adoption of a resolution approving the issuance by the FDFC of not exceeding $94,500,000 of its Educational Facilities Revenue Bonds (Renaissance Charter Schools Project) (the “Bonds”) in one or more series. The proceeds of the Bonds will be loaned by the FDFC to Renaissance Charter School, Inc. (“Renaissance”), Red Apple at Homestead High School, LLC, Red Apple at Springs Gate, LLC, Red Apple at Baymeadows, LLC and Red Apple Hollywood, LLC and/or one or more other affiliates of Renaissance or Red Apple Development, LLC (collectively, the “Borrowers”). The Borrowers will use the proceeds of the Bonds to (A) finance or refinance the cost of (or reimburse themselves for prior expenditures for) acquisition, construction, renovation and equipping of (i) an approximately 107,000 square foot, four story facility to be operated as two charter schools known as the Hollywood Academy of Arts and Sciences and the Hollywood Academy of Arts and Science Middle School, located at 1705 and 1717 Van Buren Street, Hollywood, Florida 33020 (the “Hollywood Academy Facility”), (ii) an approximately 108,000 square foot, three story facility to be operated as a charter high school known as the Keys Gate Charter High School located at 2325 SE 28th Avenue, Homestead, Florida 33035 (the “Keys Gate Facility”), (iii) an approximately 117,000 square foot facility to be operated as two charter schools known as Duval Charter School at Baymeadows and Duval Charter High School at Baymeadows located at 7510 Baymeadows Way, Jacksonville, Florida 32256 (the “Duval Facility”); (iv) an approximately 113,000 square foot facility to be operated as a K-8 charter school known as the Renaissance Charter School at Coral Springs located at 6250 W. Sample Road, Coral Springs, Florida 33067 (the “Coral Springs Facility” and together with the Hollywood Academy Facility, the Keys Gate Facility and the Duval Facility, the “Project” and each a “Facility”); and (v) related and ancillary costs at each Facility; (B) finance the cost of the acquisition of the land (and relates site improvements) on which each Facility is located; (C) fund necessary reserves; (D) fund capitalized interest on the Bonds; and (E) pay costs associated with the issuance of the Bonds. Each Facility will be owned by one or more of the Borrowers. An affiliate of Charter Schools USA, Inc. will be the initial manager of each Facility. It is expected that the amount of proceeds of the Bonds spent at (i) the Hollywood Academy Facility will not exceed $23,000,000, (ii) the Keys Gate Facility will not exceed $25,500,000, (iii) the Duval Facility will not exceed $20,500,000 and (iv) the Coral Springs Facility will not exceed $25,500,000. The Bonds are being issued under the authority of the Florida Development Finance Corporation Act of 1993, as amended (the “Act”). The Bonds shall be payable solely from the revenues derived from a loan and other financing documents to be executed between the FDFC and the Borrowers prior to or contemporaneously with the issuance of the Bonds. Such Bonds and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power of the State of Florida or any political subdivision or agency thereof. Issuance of the Bonds is subject to several conditions including satisfactory documentation and receipt of necessary approvals for the financing. The aforementioned meeting shall be a public meeting and all persons who may be interested will be given an opportunity to be heard concerning the same. Written comments may also be submitted prior to the hearing to the Florida Development Finance Corporation at 800 North Magnolia Avenue, Suite 1100, Orlando, Florida 32803, directed to the Executive Director. Comments made at the hearing are for the consideration of the Governor of the State of Florida and will not bind the FDFC as to any action it may take.


	A copy of the agenda may be obtained by contacting: Executive Director, Florida Development Finance Corporation, 800 North Magnolia Avenue, Suite 1100, Orlando, Florida 32803. Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 3 days before the workshop/meeting by contacting: Executive Director, Florida Development Finance Corporation, 800 North Magnolia Avenue, Suite 1100, Orlando, Florida 32803, (407)956-5607. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice). If any person decides to appeal any decision made by the Board with respect to any matter considered at this meeting or hearing, he/she will need to ensure that a verbatim record of the proceeding is made, which record includes the testimony and evidence from which the appeal is to be issued. For more information, you may contact: Executive Director, Florida Development Finance Corporation, 800 North Magnolia Avenue, Suite 1100, Orlando, Florida 32803, (407)956-5607.

PRINT PUBLISH DATE:	4/22/2011 Vol. 37/16


REFERENCE MATERIALS:	No reference(s).

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Overview