All right, good afternoon.

Welcome back.

We're here at our special call finance audit and budget committee chaired by myself, Commissioner Ted Terry, joined by committee members commission Commissioner Michelle Long Spears and Commissioner Shakira Johnson, as well as our COO Zach Williams and County Attorney Terry Phillips.

Thank you all for joining us.

But if they do, just you know, wave over and let me know if they're if they're online.

So commissioners, the goal here for the special call meeting is to address any items that uh could be acted on that are on the agenda for tomorrow for action by the BOC.

Um so let's actually let's do our minutes first and then we'll jump into the agenda item.

So this is the uh 2026 1111 agenda item, meeting minutes for the uh July 6th, the last special call meeting of the finance audit budget committee.

So if there's no edits or changes, I'll open the floor for a motion.

So move.

Approved.

All right, motion a second, seeing no further discussion.

All in favor, and say aye.

Aye.

Chair vote side, motion carries.

All right, so let's go to the first one.

This is item 2026-1043.

All commission districts, a resolution approving the issuance of the housing authority, quote housing authority of the county of DeCAB, Georgia, taxable revenue bonds, also known as the housing investment bond program series 2026, and the aggregate principal amount not to exceed 25 million for the purpose of funding the housing investment bond program and authorizing the execution and delivery of an intergovernmental housing cooperation agreement between the county and the housing authority of the county of DeCab, Georgia.

Um I see uh Director Dr.

Ferguson is here.

Thank you for joining us.

Would you like to kick it off or Zach?

Do you want to do any preface before Dr.

Ferguson starts?

No, Mr.

Chair, I think Dr.

Ferguson's done a masterful job over the past number of months.

So I'd like him to go on and move on.

Okay, wonderful.

All right, let's hear it.

Well, um, the one thing that I would offer is that the additional item uh 2026-1044 uh is a companion piece, you know, regarding the programs.

Okay.

And so um I don't know if you wanted to kind of go into those two.

Yeah, let me just I'll read that and so we can talk about both in the same uh comments.

So uh the other item for consideration today is 2026-1044, a resolution authorizing the initial implementation of the DeCab County Housing Investment Bond Program by approving the creation and implementation of the multifamily acquisition fund, decab housing catalyst multi-gap financing program, deCAP Home Start Down Payment Assistance Program, DeCab Brighter Home Owner Occupied Rehabilitation Program, Revived DeCAB Multifamily Bright Blight Redevelopment Program, the Transitional Housing and Homelessness Program, and the Housing Capacity Seed Fund Program, collectively the HIB initial initial programs.

The resolution further approves the initial allocation of affordable housing fund resources to support these initiatives, authorizes delegated approval authority where applicable to the primary program administrator and designated sub-program administrators for the administration and project approvals consistent with adopted guidelines regarding the HIB initial programs and authorizes initial expenditures from the housing affordable fund to support operational capacity, systems development, technical services, legal services, advisory services, and homelessness services necessary to advance affordable housing production, preservation, neighborhood stabilization, and homelessness response efforts through DeCab County.

Did I say it all?

Yeah, that's it.

I covered it.

All right, Dr.

Ferguson.

All right, thank you.

And uh, you know, thank you, committee, for you know, allowing me the opportunity, you know, to present on this again.

And so um, you know, I've shared, you know, essentially our goals of the housing investment uh bond program.

Um ultimately what we're going to achieve is 155 million dollars uh generated in uh bond proceeds.

It's a drawdown bond structure, so we're not issuing all 155 million dollars at once.

This initial issuance uh is for 25 million dollars.

And as we monitor pipeline and build up activity, we'll be circling back for a subsequent uh bond issuance under the drawdown structure.

Uh that does a couple of different things, but most importantly, what it does is allow us to uh reduce our interest and carrying costs during the interim while we work on development pipeline uh to get this uh you know these programs launched and get the capital deployed.

Uh so we're proposing, you know, as item 1044, you know, outlines a number of different programs uh you know that I've shared uh you know with every you know when here on you know multiple uh you know occasions and so really the approval uh that we're requesting is for approval of the two items 1043, which covers the intergovernmental agreement um and authority to for the bond issuance uh in partnership uh with the housing authority of the CAD County and uh the approval to launch the initial programs and activities supported by the housing investment bond that uh long list of items uh the chair of the committee so uh eloquent get captured in that cap in that so uh if you have any any uh additional questions, yeah, I'm more than happy to uh you know to you know answer them and uh and address any of your immediate concerns.

Um if you'd like me to go through the entire presentation again, you know, that's you know fine as well.

Um we're seeking your approval.

If we can, since we have all of the agreements, exhibits, like it's all in the paperwork here.

Let's um have the commissioners ask any specific questions about you know the actual thing we're voting on.

Um I think we've covered the high level, but um I'll open the floor up for any commissioner comments questions.

Sure.

Commissioner Johnson.

Sure.

I just had a a brief one, and I think I've asked this before, but I'm not remembering the answer.

Um when would the programs be launched?