Process Flow

 

​Steps for process flow chart for health facilities authority applications

1.  Application Received by FASD to be presented to HFA

a. If $5,000 non-refundable fee enclosed, prepare package for HFA
b. If $5,000 non-refundable fee is not enclosed, return to applicant

2. Application Evaluated by HFA

a. Rejected – Notify Applicant of Rejection
b. Approved – Moved to Broward County Finance and Administrative Services for Review

i. Rejected – Tell HFA to Notify Applicant of Rejection
ii. Approved –

1. Send to Broward County Attorney’s Office for assignment of Bond Counsel from County’s pre-established Library of Services 
2. Notify Borrower to have its Underwriter and Counsel contact Broward County’s Bond Counsel to coordinate documents and schedules
3. Rejected – Tell HFA to Notify Applicant of Rejection
4. Approved – Move to Selection of Bond Counsel and Selection of Underwriter

3. Bond Counsel prepares Resolution(s), as applicable, to go to the Board of County Commissioners for Public Hearing
4. Bond Counsel prepares documentation and advertises a Tax Equity and Fiscal Responsibility Act (TEFRA) Hearing, required   by Federal Tax Law
5. FASD Staff prepares Agenda Item for Public Hearing
6. Public Hearing Occurs

a. Resolution and TERFRA requirements fail to gain Commission approval

i. No bonds are issued

b. Resolution and TEFRA requirements gain Commission approval

i. Bond closing is scheduled
ii. County Administrator and Mayor sign closing documents

7. Bonds are issued and Applicant receives funds​​