Broward County Commission Regular Meeting

MOTION TO ADOPT Resolution No. 2019-294 of the Board of County Commissioners of Broward County, Florida,  approving and authorizing execution of the agreement between the Housing Finance Authority of Broward County, Florida (“Housing Finance Authority”), and Anthony Brunson, P.A. (“Agreement”) for bond auditing purposes; authorizing the proper Officers of the Housing Finance Authority to execute all other documents and do all things necessary or advisable in connection with entering into the Agreement; and providing for severability and an effective date.

ACTION:  (T-11:16 AM)  Approved.

VOTE:  8-0.  Commissioner Sharief was not present.

Broward County Ordinance No. 79-41, requires that the Housing Finance Authority of Broward County obtain the approval of the Board of County Commissioners of Broward County, prior to entering into any agreements.

This action will allow the Housing Finance Authority of Broward County to enter into an agreement with Anthony Brunson P.A. to secure auditing services which are required by the bond documents for Single-family and Multi-family Mortgage Revenue Bonds.

None.

THE ENVIRONMENTAL PROTECTION AND GROWTH MANAGEMENT DEPARTMENT AND THE HOUSING FINANCE AND COMMUNITY REDEVELOPMENT DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.

 

On August 15, 2018, the Housing Finance Authority (the ‘HFA”) board approved the Request for Letters of Interest (RLI) No. 20190930-FAS3, to provide the HFA with audit services for the HFA’s Single-family and Multi-family Mortgage Revenue Bonds (the “Bonds”). The RLI was published in the Sun-Sentinel on September 19, 2018. There were three proposals received, Anthony Brunson, P.A., S. Davis & Associates, P.A. and Mauldin & Jenkins, LLC, which were evaluated by the HFA. The Office of Economic and Small Business Development has no Business Enterprise goal for the Housing Finance Authority financial advisory services solicitation. The firms made presentations and were interviewed by the HFA.

 

On December 19, 2018, the HFA board approved the final ranking for RLI No. 20190930-FAS3 and selected Anthony Brunson, P.A. for a three-year term with the option to extend the agreement for two one-year extensions at the HFA’s sole discretion. This Agreement will cover the audit services for the HFA for the Bonds starting October 1, 2019 to September 30, 2022, with the option of two one-year extensions providing for years 2023 and 2024. The compensation for audit services includes the following: $57,000 for ten bond issues and each bond issue to be audited annually under this agreement. Total annual audit fees shall be in the amount of $57,000, excluding fees for additional audit services on additional bonds issues, if any. To the extent that Anthony Brunson, P.A. (the “Auditor”) provides additional services pursuant to the rates set forth in the Agreement as requested by the HFA and hourly fees shall apply to any additional work done by the Auditor.   
 

At its May 8, 2019 board meeting, the HFA approved Resolution 2019-004 (Exhibit 2) authorizing entering into an agreement with Anthony Brunson, P.A. to provide audit services for the HFA’s Bonds. The Resolution was approved as to form by the Office of the County Attorney.
 

Adoption of this Resolution authorizes the HFA to enter into an agreement with Anthony Brunson, P.A. to provide audit services for the Bonds.

Ralph Stone, Director, Housing Finance and Community Redevelopment Division, (954) 357-5320