FINANCIAL_SERVICESAMENDED

housing-finance-authority-of-miami-dade-county-florida-resolution-hfa-2025-25_4f5.pdf

Authority Amends Funding Loan with Bank of America

Maximum principal amount $37,000,000; potential increase of Permanent Phase Funding Loan principal by up to $2,200,000 (not to exceed $22,200,000)Miami Dade Public Housing And Community DevBANK OF AMERICA N.A.August 14, 2025

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Description

The Housing Finance Authority of Miami-Dade County approves a Supplement to its 2023 Funding Loan Agreement with Bank of America, N.A. to allow an increase in the principal amount of the Permanent Phase Borrower Loan for the Pinnacle at Tropical Pointe project. The amended arrangement maintains the overall Funding Loan maturity of October 1, 2056 and caps the increase at $2,200,000 for a total principal amount not to exceed $22,200,000.

Contract Details

Contract Amount

Maximum principal amount $37,000,000; potential increase of Permanent Phase Funding Loan principal by up to $2,200,000 (not to exceed $22,200,000)

Vendor

BANK OF AMERICA N.A.

Agency

Miami Dade Public Housing And Community Dev, FL

Contract Type

FINANCIAL_SERVICES

Document Date

August 14, 2025

Contract Term

Funding Loan maturing October 1, 2056; Supplement dated as of August 1, 2025

Renewal Date

2056-10-01

Renewal Info

This is an amendment to the March 1, 2023 Construction Phase Funding Loan Agreement, modifying Section 2.01(e) to permit a limited principal increase at Conversion while keeping the original maturity date of October 1, 2056 in place; all other terms of the Funding Loan Agreement are ratified and remain in full force and effect.