Meeting Type: BCC Regular Meeting
Meeting Date: 3/5/2024
Item Status: New
From: Roger H. Rendleman, County Administrator
Submitted by: Anu Gary, Administrative Services Manager
______________________________________________________________________
ITEM TITLE
Title
Approval of Engagement Letter with Hand Arendall Harrison Sale, LLC for Proposed Issuance of Tax Increment Financing (TIF) District Bonds or Warrants
End
STAFF RECOMMENDATION
Authorize the Chairman to execute the acknowledgement and agreement on behalf of the Baldwin County Commission for the law firm of Hand Arendall Harrison Sale, LLC to represent the County as its bond counsel in connection with the proposed issuance of bonds or warrants for the Tax Increment Financing (TIF) District, as outlined in the attached engagement letter for the services to be performed by the firm.
BACKGROUND INFORMATION
Background: The Commission will consider a possible warrant issue for infrastructure improvements within the proposed Tax Increment Financing District to be established by the County Commission. The engagement letter is for bond counsel services related to the debt issuance associated with the TIF District.
Previous Commission action/date:
February 20, 2024, BCC Special Meeting - Related to the proposed creation of a Tax Increment Financing (TIF) District in Baldwin County, Alabama, tentatively titled Tax Increment Financing District 1 (“TIF D1”), a special meeting was called for the Baldwin County Commission and the representatives of the deferred tax recipients for the proposed Tax Increment Financing District to discuss the following: 1) The boundaries of the tax increment district, development within such district, the exclusion of particular parcels of property from such district, and tax collection for such district; and 2) Any other matters relevant to the proposed tax increment district.
January 16, 2024, BCC Regular Meeting - The Commission conducted a public hearing regarding the proposed creation of a tax increment financing district (“TIF District”), tentatively titled Tax Increment Financing District 1 (“TIF D1”), within the jurisdictional boundaries of Baldwin County pursuant to Ala. Code §§ 11-99-1 et seq.
December 19, 2023, BCC Regular Meeting - The Commission adopted Resolution #2024-057 calling for a public hearing proposing the creation of a Tax Increment Financing (TIF) District in Baldwin County, authorizing the preparation of a project plan, authorizing the Chairman of the County Commission to perform certain actions required by Alabama law, and directing the publication of the resolution as required by Alabama law.
FINANCIAL IMPACT
Total cost of recommendation: Costs will be incorporated into the closing cost of the warrant issue. If the warrant issue is not completed, the County will be billed directly for hours spent and costs incurred.
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Administration, file original and email copy of signed engagement letter to:
R. Preston Bolt, Jr.
Hand Arendall Harrison Sale, LLC
Email: pbolt@handfirm.com
Roger Rendleman, County Administrator
Beth Hodges, Budget Director
Aislinn Stone, Finance
Christie Bezoari, Finance
Action required (list contact persons/addresses if documents are to be mailed or emailed): N/A
Additional instructions/notes: N/A