TITLE
RESOLUTION APPROVING ISSUANCE OF MIAMI-DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY INDUSTRIAL DEVELOPMENT REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $26,000,000.00, IN ONE OR MORE TAX-EXEMPT AND/OR TAXABLE SERIES TO (I) FINANCE AND REFINANCE (INCLUDING THROUGH REIMBURSEMENT) THE COSTS OF ALL OR A PORTION OF CERTAIN HEALTH CARE FACILITIES, (II) FUND A DEBT SERVICE RESERVE FUND, IF NECESSARY, (III) FUND CAPITALIZED INTEREST, AND (IV) PAY CERTAIN COSTS OF ISSUANCE RELATING TO THE BONDS, ALL BENEFITTING CARE RESOURCE COMMUNITY HEALTH CENTERS, INC., A FLORIDA NOT-FOR-PROFIT CORPORATION

BODY
WHEREAS, Care Resource Community Health Centers, Inc., a Florida not-for-profit corporation (the �Borrower�), has requested the Miami-Dade County Industrial Development Authority (the �Authority�) to issue its industrial development revenue bonds (the �Bonds�), in an aggregate principal amount not to exceed $26,000,000.00 in one or more tax-exempt and/or taxable series, and to loan the proceeds thereof to the Borrower in order to (i) finance and refinance (including through reimbursement) the costs of all or a portion of certain health care facilities, including land, buildings, fixtures, furnishings, equipment, leasehold interests and other tangible and intangible property, located in Miami-Dade County, Florida (�Miami-Dade County�) and Broward County, Florida (�Broward County�); (ii) fund a debt service reserve, if necessary; (iii) fund capitalized interest; and (iv) pay certain costs associated with the issuance of the Bonds (collectively, the �Project�); and

WHEREAS, the Authority intends to issue the Bonds subject to (i) approval by the Board of County Commissioners of Miami-Dade County (the �Board�) of the issuance of the Bonds, (ii) approval by the Board of County Commissioners of Broward County, as the governmental unit the geographic jurisdiction of which contains the portion of the Project located in Broward County, and (iii) final approval by the Authority of the financing documents for the Project, which is more particularly described in the report prepared by the Executive Director of the Authority (a copy of which is attached hereto as Exhibit A); and

WHEREAS, on Wednesday, April 22, 2026, the Authority held a public hearing, notice of which was given by electronic posting on the Authority�s public website on Tuesday, April 14, 2026, and such notice remained posted on the Authority�s public website from April 14, 2026 through the date of the public hearing (a copy of such notice is attached hereto as Exhibit B), for the purpose of giving all interested persons an opportunity to express their views in connection with the issuance of the Bonds, and the location and nature of the Project, as required under Section 147(f) of the Internal Revenue Code of 1986, as amended (the �Code�); and
WHEREAS, after reviewing a copy of the transcript of the Authority�s public hearing held on Wednesday, April 22, 2026, with respect to the Bonds (a copy of which transcript is attached hereto as Exhibit C), and finding that the Project will inure to the benefit of the citizens of Miami-Dade County, this Board desires to approve the issuance of the Bonds for the purposes of complying with Section 147(f) of the Code,

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:

Section 1. The foregoing recitals are adopted as if fully set forth herein.

Section 2. The issuance of the Bonds for the purpose of financing and refinancing (including through reimbursement) all or a part of the costs of the Project, as previously described, is approved.

Section 3. The Bonds and the interest on the Bonds shall not constitute a debt, liability or general obligation of the Authority, Miami-Dade County, Broward County or of the State of Florida or of any political subdivision thereof, but shall be payable solely from the revenues or other moneys specifically provided by the Borrower for the payment of the Bonds and neither the faith and credit nor any taxing power of the Authority, Miami-Dade County, Broward County or of the State of Florida or of any political subdivision thereof is pledged to the payment of the principal or interest on the Bonds.

HEADER
Date:

To: Honorable Chairman Anthony Rodriguez
and Members, Board of County Commissioners

From: Daniella Levine Cava
Mayor

Subject: Resolution approving issuance of Industrial Development Revenue Bonds for Care Resource Community Health Centers, Inc. Project by Miami-Dade County Industrial Development Authority

STAFF RECOMMENDATION
Recommendation
The accompanying resolution is being placed before the Board of County Commissioners (Board) at the request of the Miami-Dade County Industrial Development Authority (IDA). This item approves the issuance of industrial development revenue bonds (Bonds) by the IDA for Care Resource Community Health Centers, Inc. (Company) in a principal amount not to exceed $26,000,000.00.

Details of the project are included in the accompanying memorandum and exhibits from the Chairman of the IDA.

Scope
The projects are located at 3510 Biscayne Boulevard and 2090 NW 21st Terrace, in the City of Miami, FL, within Commission District 3 and represented by Commissioner Keon Hardemon; and 1800 SW 1st Street, in the City of Miami, FL and 1680 Michigan Avenue, Suite 912, in the City of Miami Beach, FL, within Commission District 5 and represented by Commissioner Vicki L. Lopez.

Delegated Authority
There is no delegated authority for this IDA item.

Fiscal Impact/Funding Source
Neither the IDA nor Miami-Dade County has any liability with respect to the repayment of the Bonds.

Track Record
Issuance of the Bonds will be conducted and monitored by the Executive Director of the IDA.

Background
The Tax Equity and Fiscal Responsibility Act (TEFRA) requires that the Board approve the issuance of Bonds by the IDA after a public hearing has been held either by the IDA or by the Board. For efficiency, the Board has allowed the IDA to conduct the public hearing subject to review and ratification by the Board.

In addition, a public hearing on the proposed bond issue for the projects located in Broward County was held and the Authority will enter into an interlocal agreement with Broward County in connection with the industrial development revenue bonds to be issued for that portion of the project located in Broward County.

Attachments


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Carladenise Edwards
Chief Administrative Officer