Century may receive $23K

The town of Century stands to receive as much as $23,100 after the council approved three amendments to resolutions at its Monday, Nov. 19 meeting.

Three resolutions on behalf of Capital Trust Company were presented for approval;

two are for charter schools located in Florida and the other is a multi-family housing project.

The first resolution is for Pineapple Cove Classical Academy to purchase land and building they are currently leasing and an adjacent 11.5 acres to build a 40,000 square-foot high school facility.

The financing will be $30,550,000 in tax-exempt bonds, so the fee is $10,850 to Century.

The second is for Village Crossing Apartments in Gainesville, Fla. to renovate a run-down multi-family rental housing complex serving moderate-to low income on 6.2 acres of land. The financing will be $7.5 million and $2,800 will be the fee for Century. This resolution will be for a for-profit entity, utilizing private-activity bonds, and the CTA has an allocation, from the state of Florida, ready to apply to this project.

The third resolution is for the Florida Charter Foundation, a company which owns and operates multiple schools throughout Florida. To acquire Franklin Academy in Palm Beach Gardens, a facility that houses K-5 and 6-8 grades, purchasing the existing building they are leasing. The financing would be $26,275,000 and the fee would be $9,450 for Century.

 
 
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