2024-05-14T13:00:56-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 800 NORTH MAGNOLIA AVE SUITE 1300 ORLANDO FL 32803 990 2022-07-01 593270584 FLORIDA DEVELOPMENT FINANCE CORPORATION FLOR 4077126351 156 TUSKAWILLA ROAD SUITE 2340 WINTER SPRINGS FL 32708 ROBERT HARVEY ESQ EXECUTIVE DIRECTOR 4077126351 2024-05-13 1 ROBERT HARVEY ESQ 999009999 0 AMY DOSIK P00890743 4074237911 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT HARVEY ESQ 156 TUSKAWILLA ROAD SUITE 2340 WINTER SPRINGS FL 32708 2893381 0 X WWW.FDFCBONDS.COM X 1993 FL FLORIDA DEVELOPMENT FINANCE CORPORATION ("FDFC") ACCOMPLISHES ITS MISSION OF PROVIDING TAXABLE AND TAX-EXEMPT BOND FINANCING TERMS CONSISTENT WITH THOSE AVAILABLE TO LARGE CORPORATIONS TO SMALL, CREDITWORTHY MANUFACTURERS, 501(C)(3) NOT-FOR-PROFIT CORPORATIONS, AND ANY OTHER ELIGIBLE BORROWER OR PROJECT BY ACTING AS A CONDUIT ISSUER OF REVENUE BONDS. THE PROGRAM IS DESIGNED TO IMPROVE THE AVAILABILITY OF LOW COST FINANCING FOR ELIGIBLE BORROWERS AND PROJECTS THAT QUALIFY FOR TAX EXEMPT FINANCE UNDER IRS RULES, ALLOWING THESE ENTITIES TO BE MORE COMPETITIVE IN THE GLOBAL AND DOMESTIC MARKET PLACE. TRANSACTIONS THAT DO NOT MEET IRS QUALIFYING RULES FOR TAX EXEMPT FINANCE CAN BE FINANCED WITH TAXABLE BONDS THROUGH FDFC. FDFC HAS ISSUED BONDS FOR CHARTER SCHOOLS, TRANSPORTATION FACILITIES, INDUSTRIAL DEVELOPMENT FACILITIES, SENIOR LIVING FACILITIES AND SOLID WASTE DISPOSAL FACILITIES. 7 7 7 7 0 0 0 0 3593721 2812154 7231 81227 0 0 3600952 2893381 0 0 0 0 929621 825907 0 0 0 612983 666320 1542604 1492227 2058348 1401154 7090461 8374240 386258 268883 6704203 8105357 X THE FDFC WAS FORMED BY FLORIDA STATUTE 288.9603, DESIGNATED AS A STATE-WIDE, SPECIAL DEVELOPMENT FINANCING AUTHORITY FOR ECONOMIC DEVELOPMENT PURPOSES. FDFC'S PURPOSE IS TO ASSIST NEW AND EXISTING BUSINESSES AND ORGANIZATIONS (FOR-PROFIT AND NOT-FOR-PROFIT) IN GAINING ACCESS TO CAPITAL THROUGH FINANCINGS THAT PROMOTE BUSINESS ACTIVITY, JOB CREATION, AND AN IMPROVED STANDARD OF LIVING FOR THE CITIZENS OF FLORIDA. 0 0 232090 2159747 TRADITIONAL BONDS - THIS PROGRAM IS PROVIDED THROUGH ENABLING LEGISLATION UNDER FL. ST. CHAPTER 288, PART X WHEREBY THE FDFC IS AUTHORIZED AS A "CONDUIT ISSUER" TO ISSUE BONDS THROUGHOUT THE STATE IN CONJUNCTION WITH AN INTERLOCAL AGREEMENT WITH LOCAL GOVERNMENTS WHERE THE PROJECT IS LOCATED. TAX-EXEMPT BONDS ARE ISSUED FOR ELIGIBLE PROJECTS OR BORROWERS THAT MEET CERTAIN ELIGIBILITY REQUIREMENTS UNDER THE IRS TAX CODE. REPAYMENT OF THE BONDS IS THE RESPONSIBLITY OF THE BORROWER AND NOT THE FDFC, STATE, FEDERAL OR LOCAL GOVERNMENTS. 857829 652407 PACE BONDS - THIS PROGRAM IS FOUND UNDER FL. ST. 163.08. UNDER FL. ST. 288.9606 (7)(C), THE FDFC IS AUTHORIZED TO ISSUE PACE BONDS THROUGHOUT THE STATE. THESE BONDS ARE ISSUED TO PAY FOR THE PURCHASE AND INSTALLATION OF ELIGIBLE IMPROVEMENTS TO PROPERTY FOR THE PURPOSE OF ENERGY EFFICIENCY, ENERGY CONSERVATION AND WIND HARDENING. REPAYMENT OF THE BONDS IS THROUGH A VOLUNTARY SPECIAL ASSESSMENT REQUESTED BY THE PROPERTY OWNER AND PLACED ON THE ANNUAL TAX ROLL. 1089919 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 7 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X JENNIFER JENKINS 4077126351 156 TUSKAWILLA ROAD STE 2340 WINTER SPRINGS FL 32708 MICHAEL DINAPOLI CHAIR 1.00 0.00 X X 0 0 0 J NELSON BRADSHAW DIRECTOR 1.00 0.00 X 0 0 0 CHARBEL BARAKAT DIRECTOR 1.00 0.00 X 0 0 0 MOSHE POPACK DIRECTOR 1.00 0.00 X 0 0 0 TAYLOR SMITH DIRECTOR 1.00 0.00 X 0 0 0 J MICHAEL QUIJANO DIRECTOR 1.00 0.00 X 0 0 0 BEN WATKINS DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM BILL SPIVEY JR EXECUTIVE DIRECTOR (TERM 07/18/22) 40.00 0.00 X 163357 0 26273 MARC ADLER EXECUTIVE DIRECTOR (START 12/30/22) 40.00 0.00 X 82385 0 13094 RYAN BARTKUS SR. DIRECTOR, PROGRAMS 40.00 0.00 X 95805 0 31712 341547 0 71079 1 0 1 0 0 CONDUIT DEBT ISSUANCE 525990 2157362 2157362 PACE PROGRAM FEES 525990 652407 652407 REIMBURSEMENTS 900099 2385 2385 2812154 81227 81227 2893381 2812154 0 81227 355445 270138 85307 274084 208304 65780 47105 35800 11305 103485 78649 24836 45788 34799 10989 42418 37374 5044 30208 30208 60270 60270 130273 99088 31185 26527 25526 1001 85317 66356 18961 10929 8306 2623 14902 11326 3576 73754 58746 15008 34649 26761 7888 9746 7407 2339 66635 50643 15992 41650 31654 9996 ASSESSMENT ADMIN COSTS 39042 39042 1492227 1089919 402308 0 6724719 8060812 25276 35065 473159 194796 340466 278363 7090461 8374240 124189 47684 262069 221199 386258 268883 X 6704203 8105357 6704203 8105357 7090461 8374240 1401154 0 X 0 1 X 1 0 275363 85827 189536 139328 61547 77781 50968 45742 5226 7500 1680 5820 278363 LEASE LIABILITY 221199 221199 X 2893381 0 2893381 0 2893381 1492227 0 1492227 0 1492227 PART X, LINE 2: FDFC IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE A 501(C)(4) ORGANIZATION EXEMPT FROM TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. X X 1 0 0 0 0 0 0 1 0 WILLIAM BILL SPIVEY JR EXECUTIVE DIRECTOR (TERM 07/18/22) 110753 0 16338 0 36266 0 12709 0 13564 0 189630 0 0 0 PART I, LINE 4A BILL SPIVEY WAS PROVIDED A SEPARATION AGREEMENT FROM THE BOARD OF DIRECTORS UPON HIS DEPARTURE IN JULY 2022. PART I, LINE 7 THE EXECUTIVE DIRECTOR RECEIVED A BONUS BASED ON A PERFORMANCE EVALUATION. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION IS GOVERNED BY A SEVEN MEMBER BOARD OF DIRECTORS. THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF ECONOMIC OPPORTUNITY OR A DESIGNEE IS A BOARD MEMBER AND SERVES AS CHAIR. THE DIRECTOR OF THE DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION OR A DESIGNEE SERVES AS A BOARD MEMBER. THE GOVERNOR, SUBJECT TO CONFIRMATION OF THE SENATE, APPOINTS THE REMAINING FIVE DIRECTORS OF THE BOARD OF DIRECTORS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 8B MINUTES ARE RECORDED AND TRANSCRIBED BY A COURT REPORTER AND THEN ARE REVIEWED BY SR. DIRECTOR, ADMINISTRATION, THEN THE EXECUTIVE DIRECTOR IN THE BOARD MEETING PACKETS. MINUTES ARE VOTED ON DURING THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B SR. DIRECTOR, ADMINISTRATION COMPLETES ALL INFORMATION ON THE 990 CHECKLIST PROVIDED BY CHERRY BEKAERT AND THEN SHARES WITH THE EXECUTIVE DIRECTOR TO PROVIDE COMMENTS/EDITS. SR. DIRECTOR, ADMINISTRATION SENDS CHECKLIST TO THE TAX MANAGER AT CHERRY BEKAERT AND IS PROVIDED BACK A DRAFT OF THE 990. THE EXECUTIVE DIRECTOR REVIEWS AND APPROVES. THE SR. DIRECTOR, ADMINISTRATION WILL SEND TO TAX MANAGER FOR FINAL FORM 990 FOR EXECUTIVE DIRECTOR TO SIGN OFF ON AND SEND BACK TO TAX MANAGER TO SUBMIT TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS, PRINCIPAL OFFICERS, AND MEMBERS OF COMMITTEES WITH POWERS DELEGATED BY THE BOARD (INTERESTED PERSONS) ARE REQUIRED TO DISCLOSE THE EXISTENCE OF ANY CONFLICT OF INTEREST TO THE BOARD AND COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. IN THE ABSENCE OF THE INTERESTED PERSON, THE BOARD AND/OR COMMITTEE DETERMINES IF A CONFLICT EXISTS BY DISCUSSION AND VOTE. INTERESTED PERSONS ANNUALLY SIGN STATEMENTS WHICH AFFIRMS SUCH PERSONS HAVE READ AND UNDERSTOOD THE CONFLICT OF INTEREST POLICY AND HAVE AGREED TO COMPLY WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION CONSIDERATIONS ARE DELIBERATED AND RECOMMENDED THROUGH A COMPENSATION COMMITTEE AND THEN FINAL APPROVAL IS DETERMINED BY BOARD VOTE. THIS IS FOR THE EXECUTIVE DIRECTOR POSITION ONLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES, AND ALL REPORTS ARE AVAILABLE UPON REQUEST.