Orange County Government, Florida

Orange County Industrial Development Authority

Special District with fiscal year October 1 through September 30

Name

Orange County Industrial Development Authority (the “Authority”).

Purpose

The Orange County Industrial Development Authority was created for the purpose of financing and re-financing capital projects as defined by, and in the manner provided by, the Florida Industrial Development Financing Act and by Sections 159.44-159.53 of Chapter 159 of the Florida Statutes relating to industrial development authorities and for the purpose of fostering the industrial and business development of Orange County.

Section 159.46, Florida Statutes provides that the purposes of industrial development authorities are as follows:

159.46 Purposes.—Industrial development authorities, as authorized by ss. 159.44-159.53, are created for the purpose of financing and refinancing projects for the public purposes described in, and in the manner provided by, the Florida Industrial Development Financing Act and by ss. 159.44-159.53 and for the purpose of fostering the economic development of a county. Each industrial development authority shall study the advantages, facilities, resources, products, attractions, and conditions concerning the county with relation to the encouragement of economic development in that county, and shall use such means and media as the authority deems advisable to publicize and to make known such facts and material to such persons, firms, corporations, agencies, and institutions which, in the discretion of the authority, would reasonably result in encouraging desirable economic development in the county. In carrying out this purpose, industrial development authorities are encouraged to cooperate and work with industrial development agencies, chambers of commerce, and other local, state, and federal agencies having responsibilities in the field of industrial development.

Board

The Orange County Industrial Development Authority is governed by five members of the Authority. The name, e-mail address, and the present term of each present member of the Authority (all of whom have been appointed by the Orange County Board of County Commissioners) are as follows:

  1. Sylvia S. Dunlap (Current Chairman). Mrs. Dunlap’s current term as a member of the Authority commenced on March 10, 2015 and will end on December 31, 2018. The e-mail address for Mrs. Dunlap is sseatondun@nationalminorityconsultants.com.
  2. Joel Knopp . Mr. Knopp’s term as a member of the Authority commenced on January 10, 2017 and ends on December 31, 2020. His e-mail address is Joelknopp@gmail.com.
  3. Wade C. Vose. Mr. Vose’s term as a member of the Authority commenced on February 17, 2015 and ends on December 31, 2017. His e-mail address is wvose@voselaw.com.
  4. Justin J. Vermuth. The term of Mr. Vermuth commenced on May 19, 2015 and will end on December 31, 2016. His e-mail address is JVermuth@arda.org.
  5. Michael J. Hart. The term of Mr. Hart commenced on May 19, 2015 and will end on December 31, 2017. Mr. Hart’s e-mail address is mikejhart214@live.com.

Creation Documents

Section 159.45, Florida Statutes automatically creates in each county an industrial development authority having the purposes and powers set forth in Part III of Chapter 159, Florida Statutes. Section 159.45, Florida Statutes further provides, however, that no county industrial development authority shall transact any business or exercise any power unless and until the county commission by proper resolution shall that there is a need for such authority to function in such county. The Orange County Board of County Commissioners adopted such a resolution authorizing the Orange County Industrial Development Authority on January 30, 1979.

The Orange County Industrial Development Authority operates under Parts II and III of Chapter 159, Florida Statutes. The Authority also operates under the By-Laws of the Orange County Industrial Development Authority adopted on May 14, 1979.

Finally, the Orange County Industrial Development Authority operates under the Background, Guidelines, and Procedures for the Issuance of Industrial Development Revenue Bonds (the “Guidelines”). The revision of the Guidelines now being used by the Authority is the February 17, 2015 revision.

Boundaries

The boundaries of the Orange County Industrial Development Authority are the boundaries of Orange County, Florida. When a particular borrower is borrowing money for qualifying projects in more than one county, the Authority sometimes enters into interlocal agreements with other counties and issues bonds to finance the projects in all counties.

Assessments

The Orange County Industrial Development Authority has no taxing power and collects no taxes or assessments. The Authority does, however, collect from borrowers seeking or obtaining industrial development bond financing the following fees and reimbursements:

  1. a non-refundable $1,500 application fee due and payable with the application for the issuance of the Authority’s industrial development revenue bonds;
  2. a financing fee of one-half (1/2) of one (1%) percent of the first $4,000,000 and one-fourth (1/4) of one (1%) percent of the remainder of the face amount of the bond issue (subject to the limitation that the financing fee shall never exceed $75,000 for any issue of industrial development revenue bonds), due and payable from the bond proceeds on the date of the bond issue closing;
  3. the applicant will pay all fees, costs, and expenses of the Authority’s counsel associated with the bond issue; and
  4. should the amount of the Authority fees be insufficient to cover all expenses of the Authority, the Authority will require an additional payment prior to proceeding further with the application (applicant will provide a check in the amount of $250, payable to the State of Florida, Department of General Services, Division of Bond Finance, if the inducement resolution is passed)

Code of Ethics

Members and officers of the Orange County Industrial Development Authority are governed by the general ethics laws of the State of Florida applicable to public officials and the procedures set forth in the Guidelines referenced above. The Authority has not adopted any separate code of ethics.

Financial

The Authority’s budget is rather informal, as the Authority receives no revenues at all and has no expenses unless a borrower either applies for or is successful in obtaining the issuance of bonds through the Authority. If any such fees are owned by the Authority they are, pursuant to a contract between the Authority and the Metro Orlando EDC, turned over to the Metro Orlando EDC.

See Resources for the final complete audit report for the fiscal year of the Authority ended September 30, 2014

Contact

The primary contact for the Orange County Industrial Development of the Authority is the Authority’s Secretary, who typically is an employee of the Metro Orlando Economic Development Commission. The office of secretary is currently vacant and the assistant secretary, Ann Catris, is the primary contact for the Authority for purposes of communication from the department.

Orange County Industrial Development Authority
c/o Metro Orlando Economic Development Commission
301 East Pine Street, Suite 900
Orlando, FL 32801
Attn: Ann Catris, Authority Assistant Secretary
Phone: 407-422-7159 X 231
Email: ann.catris@orlandoedc.com