LEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY

GOALS AND OBJECTIVES

I. Goals -section 159.46, Florida Statutes -PURPOSES (of Florida IDAs):

  1. Financing/ refinancing projects for the public purposes described in, and in the manner provided by, the Florida Industrial Development Financing Act; and

  2. Work with the Lee County Government, and other economic development organizations in Lee County, to foster the economic development of Lee County.

II. Objectives – section 159.46, Florida Statutes -PURPOSES (of Florida IDAs):

  1. A. Study the advantages, facilities, resources, products, attractions, and conditions concerning Lee County to encourage economic development in the County; and

    B. Use such means and media as advisable to publicize and make known such facts and material to persons, firms, corporations, agencies, and institutions which would reasonably result in encouraging desirable economic development in the County; and

    C. Cooperate and work with industrial development agencies, chambers of commerce, and other local, state, and federal agencies having responsibilities in the field of industrial development; and

    D. Issue revenue bonds payable solely from revenues derived solely from the sale, operation, leasing, or other otherwise from Projects described in the Florida Industrial Development Act.

    E. Per Interlocal Agreement with Lee County, dated 10-21-2014, Coordinate with the Horizon Council and other economic development groups in Lee County to develop recommendations to the County regarding general economic development in Lee County.

    F. Sound Financial Management.

III. Performance Measures

  1. Tax Exempt Bonds Issued
  2. Grants in support of Lee County Development
  3. Clean Annual Financial Audit
  4. Other

IV. 2025-2026 Achievements

  1. Bonds issued, dollar amounts and Purposes:

    • • Lee Health System, Inc. Assist Lee Memorial Health System (“LMHS”) by issuance of $65,980,000 Hospital Revenue Bonds (Lee Health System, Inc. Project), 2026 Series A-1, $89,080,000 Hospital Revenue Bonds (Lee Health System, Inc. Project), 2026 Series A-2 and $110,000,000 Hospital Revenue Bonds (Lee Health System, Inc. Project), 2026 Series A-3 conversion to not for profit corporate structure by approving the acceptance and substitution of IDA as issuer for certain obligations of LMHS, totaling $846,458,666.68, with the subsequent transfer of such obligations from IDA to the newly formed not-for-profit corporation, Lee Health System, Inc.

      • Lee Health System, Inc. Assist Lee Memorial Health System (“LMHS”) by issuance of $125,000,000 Hospital Revenue Bonds (Lee Health System, Inc. Project), 2026 Series B issued by the Lee County Industrial Development Authority

      • Cypress Cove At HealthPark Florida, Inc. by issuance of $86,995,000 Lee County Industrial Development Authority Healthcare Facilities Refunding Revenue Bonds (Cypress Cove at HealthPark Florida, Inc. Project), Series 2026.

  2. Grants

    • • Contributions of $100,000.00 to the Horizon Foundation for continued support of its overall economic development activities within Lee County, including its support of the work of the Lee County Horizon Council.

      • Grant of $250,000 to the Florida Gulf Coast University and Florida Gulf Coast University Foundation for the University’s School Support Personnel Pathway (“SSPP”) Initiative; the University’s Child Development Associate (“CA”) Credential; and the University’s Paraprofessional Micro-Credential Course.

      • Grant of $52,000.00, for the program’s second year, to the Southwest Regional Manufacturer’s Association (“SRMA”) for recruitment of Lee County manufacturers to SRMA membership

      • Grant of $125,000.00 for the program’s second year, to Junior Achievement of Southwest Florida, Inc., for its “Pre-Apprenticeship Program” project to empower Southwest Florida students with the skills and certifications needed to enter the workforce, with apprenticeships, and trade school assistance.

      • Grant of $50,000 to The Imaginarium Group, Inc. (“IMAG”) for one year extension of its STEM Club Afterschool Program which includes the following economic benefits to Lee County:

      • Exposure of K-5 students to 21st-century STEM (Science, Technology, Engineering and Math) careers;

      • Hands-on experiences that build collaboration and problem-solving

      skills;

      • Support of Lee County workforce by providing reliable, affordable, and

      educational, afterschool care so that parents can maintain current employment, and/or enhance their employment potential by pursuing after-hours job training and credentialing;

      • Performing career tracking and student outcome analysis to aid future

      educational and economic development programs.

  3. Audit

    • • Achieved a clean, no issues, audit of IDA financial records for the 24-25 Fiscal Year.