Tri-City Ledger -

By Gretchen McPherson
Ledger Staff 

Century will get $90K in fees

 

January 9, 2020



The town of Century could receive as much as $90,000 from the Capital Trust Agency (CTA) following an approval to issue bonds for three projects at Monday's council meeting.

The first of three projects is to refinance for acquisition and expansion of the Lutz Preparatory School in Hillsborough County, Florida for $23 million. If the $23 million is issued, the town of Century would receive the fee of $9,200.

The second project is for WFCS Holdings, to acquire nine out of 34 charter schools in several states across the U.S., for up to $200 million, to be leased back to the schools. The fee for the town of Century will be $68,750.

The final project, already

approved by the Century council last July, was origi- nally for the AOF Miami Dade Affordable Housing Corp, but the name has been changed to Cedar Grove, and would reflect the original terms of a bond issuance for up to $30 million. The fee for Century will be about $12,000.

Each of these projects is required to serve a public pur- pose.

Through an inter local agreement between the town of Century and the city of Gulf Breeze, bonds issued by CTA are not the responsibility of either municipality to repay.

In other business, the council:

-approved creating a Citizen Advisory Task Force (CATF) from the current Century Charter Review Committee (because each member has already had the required Sunshine Law train-

ing) of up to 10 people. The presence of a CATF increases the town's chances of being awarded a Community Block Development grant (CDBG) it has applied for.

-agreed to look at an inter- im city manager contract for Interim City manager Vernon Prather for discussion and/or approval at the next council meeting.

-approved Councilwoman Ann Brooks as council presi- dent and Councilman Luis Gomez as vice president

-approved a contract to share office space in city hall with EscaRosa Career Source contingent on incorporating language that reflects the money paid to the town as 'reimbursement of utilities' and not 'rent'

Century’s next town coun- cil meeting will be at 7 p.m., Tuesday, Jan. 21, at Century Town Hall.

 
 

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