FLORIDA GREEN FINANCE AUTHORITY

Regular Board Meeting December 5, 2024
2:00 P.M.

AGENDA
FLORIDA GREEN FINANCE AUTHORITY
Town of Mangonia Park 1755 East Tiffany Drive
Mangonia Park, FL 33407
1-877-873-8017 Access 9758310
REGULAR BOARD MEETING
December 5, 2024
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
September 12, 2024 Regular Board Meeting & PH	Page 3
Status/Program Update – Information Report	Page 9
Residential
Commercial
Old Business
Update Regarding Ongoing PACE Litigation in Florida
New Business
Consider Resolution No. 2024-05 – Adopting a FY2023-2024 Amended Final Budget	Page 17
Administrative Matters
Board Member Comments
Adjourn

Publication Date 2024-11-25

Subcategory Miscellaneous Notices

NOTICE OF REGULAR BOARD MEETING OF FLORIDA GREEN FINANCE AUTHORITY
NOTICE IS HEREBY GIVEN that the Board of Supervisors (Board) of the Florida Green Finance Authority (Authority) will hold a Regular Board Meeting on December 5, 2024, at 2:00 P.M. (EST) at the Town of Mangonia Park Municipal Center located at 1755 East Tiffany Drive, Mangonia Park, Florida 33407.
The purpose of this meeting is to conduct any business coming before the Board. The meeting is open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Agenda for this meeting may be obtained from the Authoritys website or by contacting the Authority Manager at 561-630- 4922 and/or toll free at 1-877-737-4922 prior to the meeting.
Such meeting will involve the use of Communications Media Technology. Members of the public may attend and participate in the meeting from the Actual Meeting Location, as well as Remote Meeting Locations. Said locations where members of the public may attend and participate are as follows:
Palm Beach County, FL: Town of Mangonia Park Municipal Center (Actual Meeting Location)
1755 East Tiffany Drive Mangonia Park, FL 33407
Sarasota County, FL: City of North Port (Remote Meeting Location) 5930 Sam Shapos Way
North Port, FL 34287
If any person decides to appeal any decision made with respect to any matter considered at this meeting, 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 this meeting should contact the Authority 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 meeting.
Meetings may be cancelled from time to time without advertised notice. FLORIDA GREEN FINANCE AUTHORITY
www.flgfa.org 11/25/24 #10787275

Publication Date 2024-11-26

Subcategory Miscellaneous Notices

NOTICE OF REGULAR BOARD MEETING OF
FLORIDA GREEN FINANCE AUTHORITY
NOTICE IS HEREBY GIVEN that the Board of Supervisors (Board) of the Florida Green Finance Authority (Authority) will hold a Regular Board Meeting on December 5, 2024, at 2:00 P.M. (EST) at the Town of Mangonia Park Municipal Center located at 1755 East Tiffany Drive, Mangonia Park, Florida 33407.
The purpose of this meeting is to conduct any business coming before the Board. The meeting is open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Agenda for this meeting may be obtained from the Authoritys website or by contacting the Authority Manager at 561-630- 4922 and/or toll free at 1-877-737-4922 prior to the meeting.
Such meeting will involve the use of Communications Media Technology. Members of the public may attend and participate in the meeting from the Actual Meeting Location, as well as Remote Meeting Locations. Said locations where members of the public may attend and participate are as follows:
Palm Beach County, FL: Town of Mangonia Park Municipal Center (Actual Meeting Location) 1755 East Tiffany Drive
Mangonia Park, FL 33407
Sarasota County, FL: City of North Port (Remote Meeting Location) 5930 Sam Shapos Way
North Port, FL 34287
If any person decides to appeal any decision made with respect to any matter considered at this meeting, 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 this meeting should contact the Authority 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 meeting.
Meetings may be cancelled from time to time without advertised notice. FLORIDA GREEN FINANCE AUTHORITY
www.flgfa.org
PUBLISH: SARASOTA HERALD TRIBUNE (SARASOTA) 11/26/24; #10787648

MINUTES
FLORIDA GREEN FINANCE AUTHORITY REGULAR BOARD MEETING AND PUBLIC HEARING
SEPTEMBER 12, 2024

Call to Order
District Manager Andrew Karmeris called the September 12, 2024, Regular Board Meeting of the Florida Green Finance Authority to order at 2:00 p.m. at the Town of Lantana, 500 Greynolds Circle Lantana, Florida 33462.

Proof of Publication
Proof of publication was presented showing that notice of the Regular Board Meeting and Public Hearing had been published in the Palm Beach Post, Sarasota Herald-Tribune, and Pensacola News Journal on August 23, 2024 and August 30, 2024, as legally required.

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

Supervisor	Jurisdiction		
Chair Nicole Dritz	Town of Lantana	Present	
Darrion Scott (Alternate)	Town of Mangonia Park	Present	
Dave Robau	City of Pensacola	Present (via telephone)	
Michelle Tipp (Alternate)	City of North Port	Present (via telephone)	

Others present at the meeting included:

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

Others appearing by phone included:

Staff Member	Company/Agency	
Leah Wiggs	Renew Financial	
Matthew Choy	Renew Financial	

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 were not comments from the public for items not on the agenda.

Approval of Minutes

1.  July 2, 2024 Regular Board Meeting

There was a motion made by Alternate Scott, seconded by Chair Dritz, to approve the minutes of the July 2, 2024 Regular Board Meeting, as presented. The Board was polled:

Supervisor	Jurisdiction	Vote	
Chair Nicole Dritz	Town of Lantana	Yes	
Darrion Scott (Alternate)	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Michelle Tipp (Alternate)	City of North Port	Yes	

The motion carried 4-0.

Status/Program Update – Information Report

Residential
Ms. Jennifer Rojo-Suarez provided a program update by reviewing the materials in the agenda package.

Mr. Matthew Choy provided a brief update on Hillsborough County. Ms. Leah Wiggs gave an update on State and Federal legislation.
Commercial
Ms. Barnard informed the Board that there has been no movement on litigation.

The Regular Board Meeting was recessed, and the Public Hearing was opened at 2:10 p.m.

Public Hearing

Proof of Publication
Receive Public Comments on Fiscal Year 2024/2025 Final Budget
Public comment was solicited. There were no comments.
Consider Resolution No. 2024-02 – Adopting a Fiscal Year 2024/2025 Final Budget

Mr. Karmeris introduced Resolution 2024-02:
RESOLUTION NO. 2024-02

A RESOLUTION OF THE FLORIDA GREEN FINANCE AUTHORITY ADOPTING A FISCAL YEAR 2024/2025 BUDGET.

A motion was made by Alternate Scott, seconded by Chair Dritz, to adopt Resolution No. 2024- 02 Adopting a Fiscal Year 2024/2025 Final Budget, as presented. The Board was polled:

Supervisor	Jurisdiction	Vote	
Chair Nicole Dritz	Town of Lantana	Yes	
Darrion Scott (Alternate)	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Michelle Tipp (Alternate)	City of North Port	Yes	

The motion carried 4-0.

The Public Hearing was then closed at 2:19 p.m. and the Regular Board Meeting was reconvened.

Old Business

There were no Old Business items to be addressed as the update regarding ongoing PACE litigation in Florida was covered during the program update.

New Business

Consider Resolution No. 2024-03 – Reorganizing the Board of Supervisors

Mr. Karmeris presented Resolution No. 2024-03

RESOLUTION NO. 2024-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY, REORGANIZING THE BOARD OF SUPERVISORS TO APPOINT THE CHAIR AND VICE CHAIR FOR FISCAL YEAR 2024-2025 AND CONTINUING THE DELEGATION OF THE ROLES OF SECRETARY AND TREASURER TO STAFF; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.

A motion made by Alternate Scott, seconded by Chair Dritz, to approve Resolution No. 2024-03 – Reorganizing the Board of Supervisors, as follows:

Seat	Selection	
Chair Nicole	Nicole Dritz, Town of Lantana	
Vice Chair	Kenneth Metcalf, Town of Mangonia Park	

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chair Nicole Dritz	Town of Lantana	Yes	
Darrion Scott (Alternate)	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Michelle Tipp (Alternate)	City of North Port	Yes	

The motion carried 4-0.

Consider Resolution No. 2024-04 – Adopting a Fiscal Year 2024/2025 Meeting Schedule

Mr. Karmeris presented Resolution No. 2024-04

RESOLUTION NO. 2024-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2024/2025 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; PROVIDING A PROCESS FOR RE-SCHEDULING REGULAR MEETINGS DUE TO UNFORESEEN CIRCUMSTANCES INCLUDING, BUT NOT LIMITED TO THE LACK OF A QUORUM; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.

A motion made by Alternate Scott, seconded by Chair Dritz, to approve Resolution No. 2024-04 – Adopting a Fiscal Year 2024/2025 Meeting Schedule, as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chair Nicole Dritz	Town of Lantana	Yes	
Darrion Scott (Alternate)	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Michelle Tipp (Alternate)	City of North Port	Yes	

The motion carried 4-0.

Consider Approval of Addendum #1 to the Second Amended and Restated Renew PACE Administration Services Agreement

Mitty Barnard presented Addendum #1 and answered questions of the Board.

A motion made by Alternate Scott, seconded by Chair Dritz, to approve Addendum #1 to the Second Amended and Restated Renew PACE Administration Services Agreement, as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chair Nicole Dritz	Town of Lantana	Yes	
Darrion Scott (Alternate)	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Michelle Tipp (Alternate)	City of North Port	Yes	

The motion carried 4-0.

Consider Approval of Second Amendment to Commercial Pace Program Administration Services Agreement by and between the Florida Green Finance Authority and Petros Pace Administrator, LLC
Mitty Barnard presented the Second Amendment and answered questions of the Board.
A motion made by Alternate Scott, seconded by Chair Dritz, to approve Second Amendment to Commercial Pace Program Administration Services Agreement by and between the Florida Green Finance Authority and Petros Pace Administrator, LLC as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chair Nicole Dritz	Town of Lantana	Yes	
Darrion Scott (Alternate)	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Michelle Tipp (Alternate)	City of North Port	Yes	

The motion carried 4-0.

Administrative Matters
There were no Administrative matters to discuss.
Board Member Comments
Chair Dritz had a question about Walton County opting out. Ms. Barnard stated it was only for Commercial.

Adjournment

There being no other business to come before the board, the meeting was adjourned at 2:25 p.m. by Chair Dritz. The motion carried 4-0.

Chairman/Vice Chair	Secretary/Asst. Secretary

Information Report

DATE:	DECEMBER 5, 2024
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 RPACE enrolled jurisdictions
Update on Tax Collector Agreements

BOARD MEMBERS:
Chair Nicole Dritz, Town of Lantana
Vice Chair Ken Metcalf, Town of Mangonia Park Dave Robau, City of Pensacola
Wayne Messam, City of Miramar Nancy Gallinaro, City of North Port

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 11/19/2024)
The program is contributing to the local goals of creating jobs and saving energy.
Jobs created: 13,895

1

Utility bill savings electricity (lifetime): $ 250,991,435
Utility bill savings natural gas (lifetime): $31,531,924
Lifetime energy generation & savings:
Renewable energy generated (kWh): 912,889,161
Energy saved (kWh): 343,387,103
Therms saved: 25,025,337
Green House Gas Reductions: 489,758 metric tons Below is a summary of program application statistics.
As of 11/19/2024	8/10/2023	11/9/2023	02/12/2024	6/11/2024	8/21/2024	11/19/2024	
# Applications	92,990	97,512	101,360	104,278	109,230	115,201	
Total App Value	$2,537,081,5 83	$2,687,976,4 72	$2,858,991,7 23	$2,954,903,3 81	$3,140,514,1 56	$3,346,745,6 19	
Average Assessment Value	$25,857	$26,418	$26,869	$27,172	$27,405	$27,661	
Notice to Proceed (#/$)*	37,069 /
$1,022,624,0 72	38,768 /
$1,080,768,0 80	40,250 /
$1,130,154,3 33	42,858 /
$1,220,626,6 21	44,562 /
$1,278,446,0 82	46,557 /
$1,346,320,6 09	
Funded (#/$)	25,543 /
$661,677,480	27,074 /
$715,592,313	28,112 /
$752,654,933	29,881 /
$811,935,778	30,990 /
$849,284,841	32,493 /
$898,772,858	
# Active Contractors	782	759	725	726	741	754	
# Counties Approved
(RPACE)	25	25	24	24	24	24	
*Inclusive of funded projects

*Q4 2024 up to 11/19/2024

As of 11/19/2024	# of
Applications	Total Application
Value	NTP # / $*	Funded (#/$)	
Town of Lantana	240	$6,926,407	108 / $3,042,549	70 / $1,863,542	
Town of Mangonia Park	30	$980,697	18 / $623,062	9 / $198,827	
City of Pensacola	99	$3,047,058	6 / $154,709	2 / $49,031	
City of Miramar	3,349	$109,863,296	1,443/ $51,119,918	897 / $29,744,396	
City of North Port	703	$15,792,303	305 / $5,538,565	248 / $4,305,880	
*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 %	Energy Efficiency Project %	Safety & Resilience Project %	
18%	17%	65%	
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.
Removed Longwood from the Participating Cities list.
Consumer Complaints
Renew Financial tracks consumer complaints. There are currently 51 unresolved complaints. Complaints are addressed through outreach to the property owner(s) and contractor (if applicable). Complaints were resolved in an average of 60 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 11/19/2024):
Number of complaints received and resolved since program launch in 2016: 1,009
Complaint Rate: 3.3%
Contractor related complaints: 933
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
Indian Harbour Beach
Satellite Beach

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*

CHARLOTTE (CPACE)
Punta Gorda
Unincorporated County

CITRUS
Inverness*
Crystal River*
Unincorporated County

COLLIER
Naples
Unincorporated County (CPACE)

COLUMBIA
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
Unincorporated County (CPACE)

JEFFERSON
Monticello*
Unincorporated County
LAKE
Eustis (CPACE)
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
Miami-Dade
Aventura
Biscayne Park
Coral Gables
Cutler Bay

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
Pasco
Port Richey
Zephyrhills
Unincorporated County
PINELLAS
Gulfport (CPACE)

SARASOTA
North Port*
Sarasota*
Venice*
Unincorporated County

DUVAL
Jacksonville (CPACE)

Doral
El Poral
Hialeah
Hialeah Gardens
Homestead
Key Biscayne
Medley
Miami
Miami Beach
Miami Gardens
Miami Lakes
Miami Shores Village
Miami Springs
North Bay Village
North Miami
North Miami Beach
Opa-Locka
Palmetto Bay
Pinecrest
South Miami
Surfside
Sweetwater
Virginia Gardens
West Miami
Unincorporated County

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

NASSAU
Fernandina Beach

SEMINOLE

Oviedo
Sanford

ST. JOHNS
Unincorporated County (CPACE)

SUWANNEE
Branford
Live Oak
Unincorporated County

VOLUSIA
Edgewater
Orange City
Port Orange
Unincorporated County (CPACE)

Orange
Apopka
Belle Isle
Ocoee (CPACE)
Orlando
Winter Garden (CPACE)
Winter Haven (CPACE)
Winter Park
Unincorporated County (CPACE)

OSCEOLA
Kissimmee*
St. Cloud*
Unincorporated County
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, Duval, 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. Johns, Suwannee, and Volusia.

RESOLUTION NO. 2024-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2023/2024 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Florida Green Finance Authority is empowered to provide a funding source and to impose special assessments upon the properties within the District; and,

WHEREAS, the Florida Green Finance Authority has prepared for consideration and approval an Amended Budget.

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

Section 1.  The Amended Budget for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.   The Secretary/Assistant Secretary of the Florida Green Finance Authority is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 5th day of December, 2024.

ATTEST:	FLORIDA GREEN FINANCE AUTHORITY

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Florida Green Finance Authority

Amended Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

COMMERCIAL BONDS RECAP

AMENDED FINAL BUDGET
FLORIDA GREEN FINANCE AUTHORITY OPERATING FUND
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

	FISCAL YEAR	AMENDED	YEAR	
	2023/2024	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/23 - 9/30/24	10/1/23 - 9/30/24	10/1/23 - 9/29/24	
				
REVENUES				
				
Carry Forward Surplus	100,000	0	0	
O & M Funding Contributions	270,000	187,470	187,470	
Loan Revenues (Residential)	18,540,000	43,799,364	43,799,364	
Bond/Loan Revenues (Commercial)	0	500	500	
Other Revenue - Program Fee	73,542	36,184	36,184	
Other Revenue - Program Sponsor	10,000	114,921	114,921	
Other Revenue - Miscellaneous	0	2,500	2,500	
Interest Income	300	38,427	38,427	
TOTAL REVENUES	$	18,993,842	$	44,179,366	$	44,179,366	
				
VARIABLE EXPENDITURES				
Assessment Roll	201,670	243,088	243,088	
Miscellaneous	10,000	10,000	0	
TOTAL VARIABLE EXPENDITURES	$	211,670	$	253,088	$	243,088	
				
FIXED EXPENDITURES (Residential & Commercial)				
Management	38,134	43,910	43,910	
Legal	57,000	106,000	101,773	
Audit Fees	15,000	15,000	0	
Insurance	3,900	3,956	3,956	
Legal Advertisements	9,000	7,500	3,123	
New County Set-up Fee	1,000	0	0	
Dues & Subscriptions	1,200	815	815	
Trustee Fees	4,000	4,000	0	
Website Management	2,000	1,500	1,500	
Miscellaneous - Postage, Office Supplies, Etc.	1,500	3,000	2,724	
Commercial Closing Fee	0	60,485	60,485	
Palm Beach County Pace Project Fees	0	19,124	19,124	
Financial Advisory Services	10,000	0	0	
TOTAL FIXED EXPENDITURES	$	142,734	$	265,290	$	237,410	
				
TOTAL EXPENDITURES	$	354,404	$	518,378	$	480,498	
				
REVENUES LESS EXPENDITURES	$	18,639,438	$	43,660,988	$	43,698,868	
				
Loan Payments (Residential)	(18,280,000)	(43,284,422)	(43,284,422)	
Bond/Loan Payments (Commercial)	0	(485)	(485)	
				
BALANCE	$	359,438	$	376,081	$	413,961	
				
Fees (Residential)	(260,000)	(476,378)	(476,378)	
Fees (Commercial)	0	(15)	(15)	
				
Excess/ (Shortfall)	$	99,438	$	(100,312)	$	(62,432)	
				
Program Reinvestment	(110,000)	(78,311)	0	
				
Net Excess/ (Shortfall)	$	(10,562)	$	(178,623)	$	(62,432)	

Fund Balance As Of 9/30/2023	
Projected FY 2023/2024 Activity	
Projected Fund Balance As Of 9/30/2024	

$278,623	
($178,623)	
$100,000	

AMENDED FINAL BUDGET FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS RECAP
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

BOND ISSUE	ORIGINAL PAR
AMOUNT	CURRENT PAR
AMOUNT	
MATURITY DATE	ANNUAL ASSESSMENT
AMOUNT	FISCAL YEAR 2023/2024
PRINCIPAL PAYMENTS	FISCAL YEAR 2023/2024
INTEREST PAYMENTS	
							
Series 2014 Loan (E&M Spirits)	$46,550.00	$0.00	May 2023	$0.00	$0.00	$0.00	
Series 2015-1 (Brandsmart Project)	$2,225,700.00	$0.00	-----	$0.00	$0.00	$0.00	
Series 2018 (Dadeland Mall Project)	$2,595,468.73	$1,475,815.41	November 2028	$350,856.55	$249,394.40	$91,161.31	
Series 2018A (Orlando Outlets Project)	$5,562,289.94	$4,881,886.06	November 2039	$496,899.34	$175,069.90	$311,375.64	
Series 2020-A (Avid Viera)	$3,471,908.43	$0.00	-----	$0.00	$0.00	$0.00	
Series 2020-B (Home 2 - Palm Bay)	$3,930,000.00	$3,780,027.08	November 2046	$312,209.65	$77,128.30	$224,554.38	
Series 2020-C (Hyatt - Palm Bay)	$5,643,500.00	$5,428,138.12	November 2046	$447,438.17	$110,756.63	$322,461.23	
Series 2020-D (Pruitt Health - Lutz)	$3,340,018.09	$3,277,666.84	November 2047	$261,701.69	$62,351.25	$192,900.92	
Series 2021-1 (Le Meridien)	$37,650,000.00	$36,868,662.45	November 2047	$2,683,983.39	$781,337.55	$1,569,778.75	
Series 2021-2 (Sheraton - Palmetto)	$30,600,000.00	$30,600,000.00	November 2048	$2,343,740.35	$0.00	$1,775,692.50	
Series 2022-1 (Pruitt Health - Pensacola)	$5,335,050.00	$5,335,050.00	November 2048	$411,818.77	$0.00	$313,933.60	
Series 2022-2 (Certus Waterford Lakes)	$7,200,000.00	$7,200,000.00	November 2048	$564,980.35	$0.00	$436,135.00	
Series 2022-3 (Spanish Moss Apartments)	$3,961,068.11	$3,961,068.11	November 2047	$328,485.94	$0.00	$247,263.08	
Series 2022-4 (Certus Vero Beach)	$8,640,000.00	$8,640,000.00	November 2050	$668,380.00	$0.00	$670,219.20	
Series 2023-1 (Proper South Beach)	$31,569,161.68	$31,569,161.68	November 2051	$2,877,485.00	$0.00	$0.00	
Series 2023-2 (Marriott Palmetto)	$14,400,000.00	$14,400,000.00	November 2053	$1,251,355.67	$0.00	$0.00	
Series 2024 (Delray Beach Market)	$14,515,442.07	$14,515,442.07	November 2053	$1,202,383.00	$0.00	$0.00	
Total	$180,686,157.05	$171,932,917.82		$14,201,717.87	$1,456,038.03	$6,155,475.61	
			.				
Notes:

BrandsMart Paid Off Series 2015-1 Bond In May 2021.						
						
Avid Viera Paid Off Series 2020-A Bond In February 2023.