The Broward County Health Facilities Authority (the "Authority") was established in 1977, by Florida Statute Section 154.207 and by the Broward County Board of County Commissioners (BOCC) County Ordinance No. 77-35, for the purpose of assisting health facilities in the acquisition, construction, financing, and refinancing of projects in any incorporated or unincorporated area of Broward County, Florida (the “County”). The Authority is governed by a Board appointed by the Broward County Board of County Commissioners. Bonds issued by the Authority are not deemed to constitute a debt of the Authority, the County, or any political sub-division thereof. The Authority is authorized to issue bonds to fulfill its corporate purpose in a principal amount for all projects not to exceed $329,100,000.
Bond Issuance
Broward County is justifiably proud of its AAA bond rating and weathered the recent financial storm in excellent condition largely due to its fairly conservative financial policies and practices. Applications for bond issuance will be scrutinized carefully, at multiple points.
Surplus Funds Distribution
By resolution of the County Commission, the HFA may donate all or a portion of any surplus funds remaining in its account at the end of the fiscal year, after costs and expenses are paid, to the Broward County Board of County Commissioners, to be used only to fund grant requests from not-for-profit human health services agencies for capital expenditures and one-time activity expenditures. The HFA Surplus Review Committee comprised of the Chair of the HFA, who serves as Committee Chair, the Broward County Chief Financial Officer, the Director of Broward County Human Services Department, and the Director of the Broward County Office of Management and Budget, reviews grant requests and makes recommendations to the BOCC for the allocation and distribution of surplus funds. See applications.
Successful Projects
John Knox Village Independent Living Facility
Catholic Health Services, Catholic health East
Henderson Mental Health Clinic
