FLORIDA GREEN FINANCE AUTHORITY

REGULAR BOARD MEETING JUNE 2, 2022
2:00 P.M.

AGENDA
FLORIDA GREEN FINANCE AUTHORITY
Mangonia Park Municipal Center 1755 East Tiffany Drive Mangonia Park, Florida 33407
1-877-402-9753 Access Code 2236281 REGULAR BOARD MEETING June 2, 2022
2:00 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
March 3, 2022 Regular Board Meeting…	Page 2
Status/Program Update – Information Report…	Page 16
Residential
Commercial
Old Business
New Business
Consider Resolution No. 2022-02 – Adopting a Fiscal Year 2022/2023 Proposed Budget…	Page 24
Administrative Matters
Board Member Comments
Adjourn

Account Number:	729499	
Customer Name:	Florida Green Finance	
Customer	Florida Green Finance	
Address:	2501 BURNS RD	
	STE A	
	PALM BEACH GARDENS FL 334105207	
Contact Name:	Florida Green Finance	
Contact Phone:	5616304922	
Contact Email:		
PO Number:	Meeting 6/2	

Date:	05/17/2022	
Order Number:	7307326	
Prepayment Amount:	$ 0.00	

Column Count:	1.0000	
Line Count:	80.0000	
Height in Inches:	0.0000	

 	
Not an Invoice

Order Confirmation

Print		
Product	#Insertions	Start - End	Category	
WPB Palm Beach Post	1	05/23/2022 - 05/23/2022	Public Notices	
WPB palmbeachpost.com	1	05/23/2022 - 05/23/2022	Public Notices	

$247.20

Total Order Confirmation

Ad Preview

- Ad Proof -

05/17/2022

Order Confirmation

Ad Order Number
0000227415

Customer
FLORIDA GREEN FINANCE AUTHORITY

Payor Customer
FLORIDA GREEN FINANCE AUTHORITY

PO Number

Sales Rep.
jharrison
EMail
jharrison@tampabay.com

Customer Account
200319

Payor Account
200319

Ordered By
Laura J. Archer

Order Taker
jharrison

Customer Address
C/O SPECIAL DISTRICT SERVICES, INC
PALM BEACH GARDENS FL 33410 USA

Payor Address
C/O SPECIAL DISTRICT SERVICES, INC
PALM BEACH GARDENS FL 33410 USA

Customer Fax

Customer EMail
LArcher@sdsinc.org

Order Source

Customer Phone
5616304922

Payor Phone
5616304922

Special Pricing

Tear Sheets

Proofs	Affidavits

Blind Box

Promo Type

Materials

0	0	1

Invoice Text
Notice of Regular Board Meeting

Ad Order Notes

Net Amount

Tax Amount

Total Amount

Payment Method	Payment Amount	Amount Due

$187.50	$0.00	$187.50	Invoice	$0.00	$187.50

- Ad Proof -

Ad Number	Ad Type	Production Method	Production Notes	
0000227415-01	CLS Legal Liner	AdBooker		

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Ad Attributes	Ad Released	Pick Up
No	0000161464-01

Ad Size
2 X 53 li
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Color

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05/22/2022	Tampa Bay Times	Legals - CLS	Legal	BL-Pasco

Customer: Address:

Classified Ad Receipt (For Info Only - NOT A BILL)
FLORIDA GREEN FINANCE AUTHORIT 2501 BURNS RD STE A
PALM BEACH GARDENS FL 33410 USA

Ad No.: Pymt Method
Net Amt:

0005264081
Invoice
$226.30

Run Times: 1	No. of Affidavits:	1

Run Dates:

05/23/22

Text of Ad: 

FLORIDA GREEN FINANCE AUTHORITY FISCAL YEAR 2021/2022 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Florida Green Finance Authority will hold Regular Meetings at 2:00 p.m. EST on the following dates at the specified locations:

Meetings to be held at the Town of Mangonia Park Municipal Center located at 1755 East Tiffany Drive, Mangonia Park, Florida 33407 on the following dates:

December 2, 2021
June 2, 2022

Meetings to be held at the Town of Lantana located at 500 Greynolds Circle, Lantana, Florida 33462 on the following dates:

March 3, 2022
September 1, 2022

The purpose of these meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agenda for any of the meetings may be obtained from the Authority’s website or by contacting the Authority’s Manager at 561-630-4922 and/or toll free at 1-877-737-4922.

Such meetings will involve the use of Communications Media Technology. Members of the public may attend and participate in the meeting(s) from the meeting location, as well as a Remote Location. Said locations where members of the public may attend and participate are as follows:

Palm Beach County, FL:	Town of Mangonia Park Municipal Center
1755 East Tiffany Drive Mangonia Park, FL 33407
(on the specified dates as indicated above)

Palm Beach County, FL:	Town Hall Town of Lantana
500 Greynolds Circle
Lantana, FL 33462
(on the specified dates as indicated above)

Alachua County, FL:	Grace Knight Conference Room (Remote Meeting Location)
Alachua County Administration Building, 2nd Floor 12 SE 1st Street
Gainesville, FL 32601

Escambia County, FL:	Vince Whibbs Conference Room (Remote Meeting Location)
City of Pensacola City Hall, 1st Floor 222 West Main Street Pensacola, FL 32501
(2:00 P.M. Eastern/1:00 P.M. Central)

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.

FLORIDA GREEN FINANCE AUTHORITY

www.fgfa.org

PUBLISH:	THE PALM BEACH POST		/	/2021

MINUTES
FLORIDA GREEN FINANCE AUTHORITY REGULAR BOARD MEETING
MARCH 3, 2022

Call to Order
District Manager Andrew Karmeris called the March 3, 2022, Regular Board Meeting of the Florida Green Finance Authority to order at 2:23 p.m. at the Town of Lantana, 504 Greynolds Circle Lantana, Florida 33462. A notice was placed on the entrance at 500 Greynolds Circle Lantana, Florida 33462 stating the change in meeting location.

Proof of Publication
Proof of publication was presented showing that notice of the Regular Board Meeting had been published in the Palm Beach Post, Florida Today, Tampa Bay Times and Pensacola News Journal on February 23, 2022, as legally required.

Establish Quorum
A quorum was established with the following Supervisors present:

Supervisor	Jurisdiction		
Wayne Messam	Town of Miramar	Present	
Dave Robau	City of Pensacola	Present (via telephone)	
Courtney Barker	City of Satellite Beach	Present (via telephone)	
Gail Hamilton	City of Zephyrhills	Present (via telephone)	

Others present at the meeting included:

Staff Member	Company/Agency	
Andrew Karmeris	Special District Services	
Keith Davis	Davis & Associates, P.A.	
Chelsey Olsen	Renew Financial	
Jennifer Rojo-Suarez	Renew Financial	

Others appearing by phone included:

Staff Member	Company/Agency	
Erin Deady	Petros Partners	

Pam Rodriguez	Renew Financial	
Leah Wiggs	Renew Financial	
Bill Capko	Lewis, Longman & Walker	

Additions or Deletions to Agenda

There were no additions or deletions to the agenda.

Comments from the Public for Items Not on the Agenda

There we no comments from the Public.

Approval of Minutes

December 2, 2021 Regular Board Meeting

There was a motion made by Supervisor Messam, seconded by Supervisor Barker, to approve the minutes of the December 2, 2021 Regular Board Meeting, as presented. The Board was polled:

Supervisor	Jurisdiction	Vote	
Wayne Messam	Town of Miramar	Yes	
Dave Robau	City of Pensacola	Yes	
Courtney Barker	City of Satellite Beach	Yes	
Gail Hamilton	City of Zephyrhills	Yes	

The motion carried 4-0.

Status/Program Update – Information Report

Additional Program Administrators
Update on State and Federal Legislation
Update on Enrolled Jurisdictions
Update on Tax Collector Agreements

Ms. Chelsey Olsen provided a program update by reviewing the materials in the agenda package.

Ms. Pam Rodriguez provided an update on the marketing efforts and programs being implemented by Renew Financial.

Ms. Leah Wiggs provided some information regarding State and Federal legislation.

Ms. Rojo-Suarez provided an update on jurisdictions and Palm Beach County. Ms. Erin Deady also commented on State and Federal legislation.
Old Business

There were no Old Business items to be addressed.

New Business

Consider Resolution No. 2022-01 – Authorizing Non-Residential PETROS PACE Documents

Mr. Davis presented Resolution No. 2022-01

RESOLUTION NO. 2022-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY APPROVING THE FORM OF FINANCING AGREEMENT, MASTER INDENTURE, OFFICER’S CERTIFICATE, REQUEST FOR AUTHENTICATION OF BONDS, OFFICER’S CERTIFICATE – REQUISITION FROM COST OF ISSUANCE FUND, BOND PURCHASE AGREEMENT, SPECIMEN BOND, EACH AS FURTHER DESCRIBED HEREIN; AUTHORIZING THE EXECUTION AND DELIVERY OF SUCH INSTRUMENTS IN CONNECTION WITH THE ISSUANCE OF DEBT OBLIGATION OR BONDS, AS THE CASE MAY BE, FROM TIME TO TIME; PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.

There was a motion made by Supervisor Messam, seconded by Supervisor Hamilton, to approve Resolution No. 2022-01, as presented. The Board was polled:

Supervisor	Jurisdiction	Vote	
Wayne Messam	Town of Miramar	Yes	
Dave Robau	City of Pensacola	Yes	
Courtney Barker	City of Satellite Beach	Yes	
Gail Hamilton	City of Zephyrhills	Yes	

The motion carried 4-0.

Administrative Matters

There were no Administrative matters to discuss.

Board Member Comments

There were no Board Member comments.

Adjournment

The meeting was adjourned at 2:46 p.m. after a motion by Supervisor Messam, and a second by Supervisor Barker. The motion carried 4-0.

Chairman/Vice Chair	Secretary/Asst. Secretary

INFORMATION REPORT

DATE:	JUNE 2, 2022
FGFA PROGRAM: RENEWPACE – PROPERTY ASSESSED CLEAN ENERGY PROGRAM
PURPOSE:
UPDATE ON RENEWPACE RESIDENTIAL PROGRAM
UPDATE ON MARKETING EFFORTS
UPDATE ON STATE AND FEDERAL LEGISLATION
UPDATE ON ENROLLED JURISDICTIONS
UPDATE ON TAX COLLECTOR AGREEMENTS

BOARD MEMBERS:
CHAIR KEN METCALF, TOWN OF MANGONIA PARK VICE CHAIR NICOLE DRITZ, TOWN OF LANTANA DAVE ROBAU, CITY OF PENSACOLA
GAIL HAMILTON, CITY OF ZEPHYRHILLS WAYNE MESSAM, CITY OF MIRAMAR WENDY COLLAZO, CITY OF ST. CLOUD

Background:

RenewPACE is a Program of the Florida Green Finance Authority (the “Authority”) designed to offer communities, property owners and capital providers a multitude of options for investing in community improvements that save both energy and money. The Authority Board of Supervisors (“Board”) is being asked to hear or consider several items for the RenewPACE residential program, as well as administrative items related to the management of the Authority:

Discussion:

UPDATE ON RENEWPACE RESIDENTIAL PROGRAM Program Application Statistics (as of 05/05/2022)

1

The program is contributing to the local goals of creating jobs and saving energy.
Jobs created: 5,537
Utility bill savings electricity (lifetime): $136,566,830
Utility bill savings natural gas (lifetime): $9,599,545
Lifetime energy generation & savings:
Renewable energy generated (kWh): 579,011,482
Energy saved (kWh): 104,540,397
Therms saved: 7,618,686
Green House Gas Reductions: 234,625 metric tons Below is a summary of program application statistics.
As of 05/05/2022	8/5/2021	11/4/2021	2/10/2022	5/5/2022	
# Applications	54,836	57,976	60,845	64,224	
Total App Value	$1,339,170,914	$1,425,962,944	$1,505,803,000	$1,598,958,431	
Average Assessment Value	$24,133	$21,917	$22,350	$22,621	
Approved (#/$)*	27,393 /
$661,099,376	29,270 /
$711,523,885	30,848 /
$756,608,742	32,778 /
$811,807,855	
Funded (#/$)	13,251 /
$290,115,893	14,183 /
$312,493,568	15,342 /
$342,894,173	16,357 /
$369,257,097	
# Active Contractors	385	383	379	399	
# Counties Approved (RPACE)	27	26	26	25	

Count of Apps Received, Approved, Funded

70000
60000
50000
40000
30000
20000
10000
0

Apps Received (#)

Apps Received (#)

Approved Applications (#)

Approved Applications (#)  Approved Applications (#)  Funded Applications(#)

*Inclusive of funded projects

*Q2 2022 up to 05/05/2022

As of 05/05/2022	# of
Applications	Total Application
Value	Approved # / $*	Funded (#/$)	
Town of Mangonia Park	10	$295,334	7 / $194,854	3 / $66,878	
Town of Lantana	162	$4,037,404	91 / $2,160,865	44 / $996,393	
City of St. Cloud	406	$11,333,351	185 / $5,701,787	105 / $3,251,515	
City of Zephyrhills	290	$5,341,417	118 / $1,606,618	77 / $946,322	
City of Miramar	1,758	$49,444,864	917 / $27,473,180	382 / $10,395,462	
City of Pensacola	33	$888,034	7 / $163,700	1 / $28,608	
*Inclusive of funded projects

Applications have been submitted for a range of products including air source heat pumps, insulation, duct replacement, water heaters, windows, wind-resistant shingles, storm windows, storm shutters, doors, central air conditioners, solar, and roofs.

Renewable Energy Project %
27%

Energy Efficiency Project %	Safety & Resilience Project %
16%	57%

Program Policy Updates

Per Resolution 2016-03 (Section 9), the Board authorized the Program Administrator to amend the Residential Handbook from time to time. Per Exhibit A of the Third-Party Administration Services Agreement Section I.3.a.iv, Renew Financial is responsible for maintaining “Program Application & Funding Request Forms”. The following is a brief summary of the updates. Renew Financial has provided an opportunity for review of the policy details to the standard working group that includes Special District Services, legal counsels, and key partners prior to implementing any new policy.

The following updates have been made to the Residential Handbook: Add Okeechobee County, the City of Belle Isle (Orange County), the Village of Palmetto Bay (Miami Dade County), and Miami Shores Village (Miami Dade County) to the Participating Cities list; Remove the Charlotte County from the Participating Cities list.

Consumer Complaints

Renew Financial tracks consumer complaints. There are currently 73 unresolved complaints. Complaints are addressed through outreach to the property owner(s) and contractor (if applicable). Complaints were resolved in an average of 38 calendar days. Renew Financial makes every effort to address and resolve issues quickly. Delays in resolution may occur depending on availability of the parties and degree of the complaint. Resolution resulted in a variety of actions including, but not limited to, additional training of contractor, confirmation of key terms with property owner, withdraw of application at request of property owner, and refund of a portion of the cost to the property owner by the contractor.

Below is a brief summary of complaints (as of 05/05/2022):
Number of complaints received and resolved since program launch: 802
Contractors involved in complaints: 608
Most common categories of complaints: Workmanship; Delayed/Incomplete Projects

UPDATE ON MARKETING EFFORTS

Any updates will be provided at the Authority Board meeting.

UPDATE ON STATE AND FEDERAL LEGISLATION

Any updates will be provided at the Authority Board meeting.

UPDATE ON ENROLLED JURISDICTIONS (see list on the following pages)

Map of Residential Opt-Ins:

BREVARD 
Cape Canaveral
Cocoa*
Cocoa Beach*
Grant-Valkaria*
Indialantic*
Indian Harbour Beach
Malabar*
Melbourne*
Melbourne Beach*
Melbourne Village*
Palm Bay*
Palm Shores*
Rockledge*
Satellite Beach
Titusville*
West Melbourne*
Unincorporated County

BROWARD 
Coconut Creek*
Cooper City*
Coral Springs*
Dania Beach*
Davie*
Deerfield Beach*
Fort Lauderdale
Hallandale Beach*
Hillsboro Beach*
Hollywood*
Lauderdale-by-the-Sea*
Lauderdale Lakes*
Lauderhill*
Lazy Lake*
Lighthouse Point*
Margate
Miramar
North Lauderdale*
Oakland Park*
Parkland*
Pembroke Park*
Pembroke Pines
Plantation*
Pompano Beach
Sea Ranch Lakes*
Southwest Ranches*
Sunrise*
Tamarac*
Weston*
West Park*
Wilton Manors*
Unincorporated County*

CITRUS
Inverness*
Crystal River*
Unincorporated County

COLLIER 
Naples
Unincorporated	County (CPACE)

ESCAMBIA
Century (CPACE)
Pensacola
Unincorporated	County (CPACE)

HIGHLANDS
Sebring (CPACE)
Lake Placid (CPACE)
Avon Park (CPACE)
Unincorporated	County (CPACE)

INDIAN RIVER
Fellsmere
Sebastian

JEFFERSON
Monticello*
Unincorporated County

LAKE
Leesburg
Mount Dora

LEE
Bonita Springs
Cape Coral
Estero
Fort Myers

LEVY
Williston
Unincorporated County

MANATEE
Bradenton*
Bradenton Beach*
Palmetto*
Unincorporated County

MARION 
Unincorporated County

MARTIN 
Sewall’s Point
Stuart
Unincorporated County

PALM BEACH
Atlantis*
Belle Glade*
Boca Raton*
Boynton Beach
Briny Breezes*
Cloud Lake*
Delray Beach
Glen Ridge*
Golf
Greenacres*
Gulfstream*
Haverhill*
Highland Beach*
Hypoluxo*
Juno Beach*
Jupiter*
Jupiter Inlet Colony*
Lake Clarke Shores*
Lake Park*
Lake Worth
Lantana
Loxahatchee Groves*
Manalapan*
Mangonia Park
North Palm Beach
Ocean Ridge*
Pahokee*
Palm Beach*
Palm Beach Gardens*
Palm Beach Shores
Palm Springs*
Riviera Beach*
Royal Palm Beach*
South Bay*
South Palm Beach*
Tequesta
Wellington*
West Lake*
West Palm Beach
Unincorporated County

POLK
Haines City
Lake Wales

PASCO
Port Richey
Zephyrhills
Unincorporated County
PINELLAS
Gulfport (CPACE)
SARASOTA
North Port*
Sarasota*

MIAMI- DADE 
Aventura
Coral Gables
Cutler Bay
Doral
El Poral
Hialeah
Homestead
Key Biscayne
Medley
Miami
Miami Beach
Miami Gardens
Miami Shores Village
Miami Springs
North Bay Village
North Miami
North Miami Beach
Opa-Locka
Palmetto Bay
Pinecrest
Surfside
Sweetwater
Virginia Gardens
West Miami
Unincorporated County

MONROE
Islamorada*
Key Colony Beach*
Key West*
Layton*
Marathon*
Unincorporated County

NASSAU 
Fernandina Beach

OKEECHOBEE
Okeechobee
Unincorporated County

ORANGE 
Apopka
Belle Isle
Orlando
Winter Garden (CPACE)
Winter Haven (CPACE)
Winter Park
OSCEOLA
Kissimmee*
St. Cloud*
Unincorporated County

Venice*
Unincorporated County

SEMINOLE
Longwood
Oviedo
Sanford
ST. JOHNS
Unincorporated County (CPACE)

VOLUSIA
Daytona Beach Shores
Edgewater
New Smyrna Beach
Orange City
Port Orange
WALTON
Unincorporated County (CPACE)

1 Those jurisdictions denoted with an asterisk became Parties to the Authority through the County’s Interlocal Agreement.

2 Please note that with regard to Sebastian that while it had signed onto the Original ILA, we are currently in extended discussions with this jurisdiction about signing onto to the updated Second Amended and Restated ILA. Until we finalize these discussions we have verbally agreed not to activate residential PACE in the jurisdiction until those discussions have concluded.

UPDATE ON TAX COLLECTOR AGREEMENTS

Uniform Collection Agreements are currently in place with the following county Tax Collector’s offices: Alachua, Brevard, Broward, Charlotte, Citrus, Collier, Escambia, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Levy, Manatee, Marion (re-executed), Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Sarasota, Seminole, St. John’s and Volusia.

RESOLUTION NO. 2022-02

A RESOLUTION OF THE FLORIDA GREEN FINANCE AUTHORITY, ADOPTING A PROPOSED BUDGET FOR FISCAL YEAR 2022/2023 AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Florida Green Finance Authority is required to approve a Proposed Budget for each fiscal year; and

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2022/2023 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY THAT:

Section 1.	The Proposed Budget including the Assessments for Fiscal Year 2022/2023 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for 	, 2021 at 2:00 p.m. located at 		
	, for the purpose of receiving public comments on the Proposed Fiscal Year 2022/2023 Budget.

PASSED AND ADOPTED this 2nd day of June, 2022.

ATTEST:	FLORIDA GREEN FINANCE AUTHORITY

Secretary	Chairman

APPROVED FOR FORM AND LEGAL SUFFICIENCY

Attorney

Florida Green Finance Authority

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET III	COMMERCIAL BUDGET
IV	RESIDENTIAL BUDGET V	PARTICIPANTS
VI	COMMERCIAL BONDS

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023
(Combined Commercial and Residential)

	
FISCAL YEAR 2022/2023 BUDGET	
		
REVENUES		
Projected Carry Forward Surplus	100,000	
O & M Funding Contributions	211,864	
Loan Revenues (Residential)	18,000,000	
Other Revenue - Commercial Closing Fees	10,000	
Other Revenue - Administrator Cost Sharing	73,542	
Interest Income	300	
TOTAL REVENUES	$	18,395,706	
		
VARIABLE EXPENDITURES		
Assessment Roll	131,010	
Miscellaneous	9,516	
TOTAL VARIABLE EXPENDITURES	$	140,526	
		
FIXED EXPENDITURES		
Management	37,080	
Legal	57,000	
Audit Fees	15,000	
Insurance	3,900	
Legal Advertisements	12,000	
New County Set-up Fee	3,000	
Dues & Subscriptions	1,200	
Trustee Fees	4,000	
Website Management	2,000	
Financial Advisory Fees	10,000	
TOTAL FIXED EXPENDITURES	$	145,180	
		
TOTAL EXPENDITURES	$	285,706	
		
REVENUES LESS EXPENDITURES	$	18,110,000	
		
Loan Payments (Residential)	(17,750,000)	
Bond/Loan Payments (Commercial)	0	
		
BALANCE	$	360,000	
		
Fees (Residential)	(250,000)	
Fees (Commercial)	0	
		
Excess/ (Shortfall)	$	110,000	
		
Program Reinvestment (Residential)	(100,000)	
Program Reinvestment (Commercial)	(10,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	100,000	

Approximate Participants As Of June 2022: 13,101 Approximate Additions For 2022/2023: 3,081

DETAILED PROPOSED BUDGET FLORIDA GREEN FINANCE AUTHORITY FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023
(Combined Commercial and Residential)

FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
					
REVENUES					
Projected Carry Forward Surplus		100,000	100,000		
O & M Funding Contributions	92,908	236,536	211,864	FY 2021/2022 O&M Revenue As Of 5-19-22 Was $90,289	
O & M Assessments (Commercial)	9,316	0	0	BrandsMart Has Paid Off 2015-1 Bond	
Loan Revenues (Residential)	17,259,558	11,000,000	18,000,000	Loan Revenues (Residential)	
Other Revenue - Commercial Closing Fees	6,346	10,000	10,000		
Other Revenue - Administrator Cost Sharing	8,922	74,927	73,542		
Interest Income	1,266	300	300	Interest Estimated At $25 Per Month	
TOTAL REVENUES	$  17,378,316	$  11,421,763	$	18,395,706		
					
VARIABLE EXPENDITURES					
Assessment Roll	113,565	109,350	131,010	13,101 X $10 - Based On Approximate Participants	
Miscellaneous	2,281	9,516	9,516	Miscellaneous	
TOTAL VARIABLE EXPENDITURES	$	115,846	$	118,866	$	140,526		
					
FIXED EXPENDITURES					
Management	36,000	36,000	37,080	CPI (Capping at 3%) Increase per Contract	
Legal	54,894	57,000	57,000	No Change From 2021/2022 Budget	
Audit Fees	12,500	15,000	15,000	No Change From 2021/2022 Budget	
Insurance	3,308	3,650	3,900	Insurance Estimate	
Legal Advertisements	4,459	15,000	12,000	$3,000 Decrease From 2021/2022 Budget	
New County Set-up Fee	1,000	1,000	3,000	Estimated At Three New Counties	
Dues & Subscriptions	1,112	800	1,200	$400 Increase From 2021/2022 Budget	
Trustee Fees	0	7,500	4,000	Decreased Due To 2015-1 Bond Payoff	
Website Management	1,500	2,000	2,000	No Change From 2021/2022 Budget	
Financial Advisory Fees	0	10,000	10,000	Financial Advisory Fees	
TOTAL FIXED EXPENDITURES	$	114,773	$	147,950	$	145,180		
					
TOTAL EXPENDITURES	$	230,619	$	266,816	$	285,706		
					
REVENUES LESS EXPENDITURES	$  17,147,697	$  11,154,947	$	18,110,000		
					
Loan Payments (Residential)	(17,044,928)	(10,820,000)	(17,750,000)	Loan Payments (Residential)	
					
BALANCE	$	102,769	$	334,947	$	360,000		
					
Fees (Residential)	(193,932)	(180,000)	(250,000)	Fees (Residential)	
					
Excess/ (Shortfall)	$	(91,163)	$	154,947	$	110,000		
					
Program Reinvestment (Residential)	0	(144,947)	(100,000)	Program Reinvestment	
Program Reinvestment (Commercial)	0	(10,000)	(10,000)	Program Reinvestment	
					
Net Excess/ (Shortfall)	$	(91,163)	$	-	$	-		
					
Projected Fiscal Year-End Fund Balance	0	100,000	100,000		

Approximate Participants As Of June 2022:	13,101

Approximate Additions For 2022/2023:	3,081

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023
(Commercial Only)

FISCAL YEAR 2022/2023
COMMERCIAL BUDGET	
		
REVENUES		
O & M Assessments (Commercial)	0	
Bond/Loan Revenues (Commercial)	See Commercial Bond Page	
Other Revenue - Commercial Closing Fees	10,000	
Other Revenue - Administrator Cost Sharing	73,542	
Other Revenue - Buy In	0	
TOTAL REVENUES	$	83,542	
		
VARIABLE EXPENDITURES		
Miscellaneous	952	
TOTAL VARIABLE EXPENDITURES	$	952	
		
FIXED EXPENDITURES		
Management	18,540	
Legal	28,500	
Audit Fees	7,500	
Insurance	1,950	
Legal Advertisements	6,000	
New County Set-up Fee	1,500	
Dues	600	
Trustee Fees	2,000	
Website Management	1,000	
Financial Advisory Fees	5,000	
TOTAL FIXED EXPENDITURES	$	72,590	
		
TOTAL EXPENDITURES	$	73,542	
		
REVENUES LESS EXPENDITURES	$	10,000	
		
Bond/Loan Payments (Commercial)	0	
		
BALANCE	$	10,000	
		
Fees (Commercial)	0	
		
Excess/ (Shortfall)	$	10,000	
		
Program Reinvestment/Carryover Credit	(10,000)	
		
Net Excess/ (Shortfall)	$	0	
		
Projected Fiscal Year-End Fund Balance	$	-	
NOTE: A separate spreadsheet is kept to track provider specific carryover credit that can be applied to quarterly invoices.

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023
(Residential Only)

	
FISCAL YEAR 2022/2023
RESIDENTIAL BUDGET	
		
REVENUES		
Projected Carry Forward Surplus	100,000	
O & M Funding Contributions	211,864	
Loan Revenues (Residential)	18,000,000	
Interest Income	300	
TOTAL REVENUES	$	18,312,164	
		
VARIABLE EXPENDITURES		
Assessment Roll	131,010	
Miscellaneous	8,564	
TOTAL VARIABLE EXPENDITURES	$	139,574	
		
FIXED EXPENDITURES		
Management	18,540	
Legal	28,500	
Audit Fees	7,500	
Insurance	1,950	
Legal Advertisements	6,000	
New County Set-up Fee	1,500	
Dues	600	
Trustee Fees	2,000	
Website Management	1,000	
Financial Advisory Fees	5,000	
TOTAL FIXED EXPENDITURES	$	72,590	
		
TOTAL EXPENDITURES	$	212,164	
		
REVENUES LESS EXPENDITURES	$	18,100,000	
		
Loan Payments (Residential)	(17,750,000)	
		
BALANCE	$	350,000	
		
Fees (Residential)	(250,000)	
		
Excess/ (Shortfall)	$	100,000	
		
Program Reinvestment (Residential)	(100,000)	
		
Net Excess/ (Shortfall)	$	(0)	
		
Projected Fiscal Year-End Fund Balance	100,000	

Approximate Participants As Of June 2022:	13,101

Approximate Additions For 2022/2023:	3,081

FLORIDA GREEN FINANCE AUTHORITY PARTICIPANTS AS OF JUNE 2022

COUNTY	
COMMENCING FISCAL YEAR 2018/2019	
COMMENCING FISCAL YEAR 2019/2020	
COMMENCING FISCAL YEAR 2020/2021	
COMMENCING FISCAL YEAR 2021/2022	
COMMENCING FISCAL YEAR 2022/2023	

TOTAL*	
							
Alachua	10	9	2	5	2	49	
Brevard	1	118	91	88	202	500	
Broward	661	767	1,139	660	768	4,329	
Charlotte	37	58	104	74	74	351	
Citrus	1	27	23	28	54	133	
Collier	9	30	12	0	0	51	
Escambia	0	0	0	1	0	1	
Hernando	9	105	90	34	0	238	
Hillsborough	340	338	469	165	0	1,381	
Indian River	0	0	0	0	1	1	
Jefferson	0	0	0	1	0	1	
Lake	0	0	0	0	1	1	
Lee	0	16	48	13	32	109	
Levy	1	2	4	5	1	14	
Manatee	9	54	122	84	74	343	
Marion	26	21	56	42	46	209	
Martin	0	6	39	14	11	77	
Miami-Dade	230	769	998	585	1057	3,639	
Monroe	0	0	0	10	3	13	
Okeechobee	0	0	0	0	3	3	
Orange	16	35	49	61	26	196	
Osceola	1	105	218	139	76	539	
Palm Beach	158	380	774	449	446	2,236	
Pasco	260	283	211	129	94	1,049	
Polk	0	0	5	16	12	33	
Sarasota	0	33	153	86	91	363	
Seminole	4	3	10	12	1	30	
Volusia	0	3	5	1	6	15	
Sub-Total	1,773	3,162	4,622	2,702	3,081	15,904	
							
Less Prepayments	171	567	885	1,126	0	2,803	
							
Total	1,602	2,595	3,737	1,576	3,081	13,101	

Notes:
2021/2022 prepayment numbers will continue to grow until the start of next year's enrollment.
2022/2023 numbers are approximates (enrollment continues through June 2022).
2022/2023 prepayments do not include any prepayments that occur between now and start of next year.
*Includes totals from years prior to those shown.

FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS AS OF JUNE 2022

BOND ISSUE	

ORIGINAL PAR AMOUNT	

CURRENT PAR AMOUNT	

MATURITY DATE	

ANNUAL ASSESSMENT AMOUNT	
					
Series 2014 Loan (E&M Spirits)	
$46,550.00	
$9,203.87	
May 2023	
$9,429.07	
Series 2015-1 (Brandsmart Project)	
$2,225,700.00	
$0.00	
-----	
$0.00	
Series 2018 (Dadeland Mall Project)	
$2,595,468.73	
$1,961,204.94	
November 2028	
$350,856.55	
Series 2018A (Orlando Outlets Project)	
$5,562,289.94	
$5,221,703.10	
November 2039	
$496,899.34	
Series 2020-A (Avid Viera)	
$3,471,908.43	
$3,471,908.43	
November 2046	
$294,927.30	
Series 2020-B (Home 2-Palm Bay)	
$3,930,000.00	
$3,930,000.00	
November 2046	
$312,209.65	
Series 2020-C (Hyatt-Palm Bay)	
$5,643,500.00	
$5,643,500.00	
November 2046	
$447,438.17	
Series 2020-D (Pruitt Health - Lutz)	
$3,340,018.97	
$3,340,018.97	
November 2047	
$261,701.69	
Series 2021 (Le Meridien)	
$37,650,000.00	
$37,650,000.00	
November 2047	
$2,689,983.39	
Series 2021 (Sheraton-Palmetto)	
$30,600,000.00	
$30,600,000.00	
November 2048	
$0.00	
Series 2022 (Pruitt Health - Pensacola)	
$5,335,050.00	
$5,335,050.00	
November 2048	
$0.00	
Series 2022 (Certus Waterford Lakes)	
$7,200,000.00	
$7,200,000.00	
November 2048	
$0.00	
Total	
$107,600,486.07	
$104,362,589.31		
$4,863,445.16	

Note:
BrandsMart Paid Off Series 2015-1 Bond In 2021.