COMMUNITY REDEVELOPMENT AGENCY (CRA) OFFICIAL AGENDA September 8, 2021 5:30 p.m.
Municipal Administration Building Commission Chambers 201 W. Central Avenue Lake Wales, FL 33853
CALL TO ORDER & ROLL CALL
COMMENTS AND PETITIONS
Public participation is encouraged. If you are addressing the Board, step to the podium and state your name and whether you are a resident, business owner or taxpayer. Please limit your discussions to five (5) minutes.
Agreement with Bryant Miller Olive, P.A. for Special Counsel Services
The Lake Wales Community Redevelopment Agency will consider entering into an agreement with Bryant Miller Olive, P.A. (BMO) for Special Counsel Services Related to serving as Note Counsel in connection with the issuance of the Lake Wales Community Redevelopment Agency Redevelopment Revenue Note, Series 2021 in an amount expected not to exceed $18,500,000.
CRA Resolution 2021-02 Approving Second Mortgage for Lake Wales Charter Schools
When the Lake Wales Community Redevelopment Agency (“CRA”) sold the former High School property to the Lake Wales Charter Schools, Inc., for development of Bok Academy North, the CRA accepted a Promissory Note in the amount of $575,000.00 from the Charter Schools secured by a First Mortgage on the property. The Charter Schools now intend to finance renovations and upgrades to the facility and intend to borrow $8,000,000.00 to be secured by a Second Mortgage on the property, said Mortgage to be held by Citizens Bank and Trust. The Bank requests that the CRA acknowledge and consent to the Second Mortgage. CRA Resolution 2021-02 has been prepared to provide for the requested acknowledgment and consent.
Note: The full staff memo will be incorporated into the official record
Minutes of the CRA meeting can be obtained from the City Clerk's Office. The minutes are recorded, but are not transcribed verbatim. Persons requiring a verbatim transcript may make arrangements with the City Clerk to duplicate the recording, or arrange to have a court reporter present at the meeting. The cost of duplication and/or court reporter will be the expense of the requesting party.
Persons who wish to appeal any decision made by the CRA Board with respect to any matter considered during this meeting will need a record of the proceedings, and for such purpose 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 based.
In accordance with Section 286.26, Florida Statutes, persons with disabilities needing special accommodations to participate in this meeting should contact the office of the City Clerk no later than 5:00 p.m. on the day prior to the meeting.