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Industrial Development Authority

Polk County's Industrial Development Authority was created by a special act of the Florida Legislature to finance, by the issuance and sale of revenue bonds, the cost of capital projects conferred on counties, municipalities, special districts and other local governmental bodies by the Florida Industrial Development Financing Act, Chapter 159, Part II, Florida Statutes, and to act in any manner that an industrial development authority created pursuant to Florida Statutes Section 159.45 may act. Under Section 159.46 of Florida Statutes, industrial development authorities are created for the purpose of financing and refinancing projects for the public purposes described in the act and by Sections 159.44 to 159.53, Florida Statutes, for the purpose of fostering the economic development of a county.

Meetings

The day, time, place and purpose of each meeting of the authority are advertised in a newspaper of general paid circulation in Polk County.

All meetings are held in the Polk County Administration Building, Fourth Floor, Room 407, 330 W. Church St., Bartow, FL and are open to the public.

Meeting DateTimeAgenda
Sept. 10, 202010:00 a.m.Download

Statutes

Title Description
Florida Statutes Chapter 159 County Organization and Intergovernmental Relations: Bond Financing
Florida Statutes Chapter 159.28 Florida Industrial Development Financing Act: General Powers
Florida Statutes Chapter 159.29Florida Industrial Development Financing Act: Criteria and Requirements
Florida Statutes Chapter 189Planning and Development: Uniform Special District Accountability Act
Florida Commission on EthicsThis is the official homepage of the State of Florida Commission on Ethics

Governing Body

Board Members

  • Brent Elliott, serving a three year term 2/6/2020 - 2/5/2023
    Standard Sand & Silica
    1850 U.S. Hwy 17-92 N.
    Davenport, FL 33837
    belliott@crystaldataservices.com
  • James (Dege) J. DeGennaro, Chairman, serving a three year term  2/20/2019 - 2/19/2022
    3111 Stonewater Drive
    Lakeland, FL 33803
    degennaro@ffcfc.com
  • Paul W. Gerrard, Jr., serving a three year term 2/6/2020 - 2/5/2023
    540 Greenway Drive
    Lake Wales, FL 33898
    pgerrard@centerstatebank.com
  • Eric Hinshaw, Assistant Secretary, serving a three year term 1/7/2018 - 11/6/2021
    3800 Chalet Suzanne Drive
    Lake Wales, FL 33859
    eric@chaletsuzanne.com
  • Sean Malott, serving a three year term 6/4/2019 - 6/3/2022
    5908 Hillside Heights Drive
    Lakeland, FL 33812
    sean@cfdc.org
  • William "Bill" Block, serving a three year term 1/23/2019 - 1/22/2022
    218 Bayberry Drive
    Polk City, FL 33868
    bblock218@gmail.com
  • Gerald Robinson, serving a three year term 1/23/2020 - 1/22/2023
    413 Opal Ave.
    Auburndale, FL 33823
    grobinson313@me.com
  • Brian S. Boyce, serving a three year term 1/23/2018 - 1/22/2021
    Hancock Bank - Middle Market Banking
    225 East Lemon Street, Suite 110
    Lakeland, FL 33801
    brian.boyce@hancockbank.com
  • J. Theron Stangry, serving a three year term 1/23/2019 - 1/22/2022
    3220 Lake Breeze Drive (H)
    Haines CIty, FL 33844
    theron.stangry@citizens-bank.com

Qualifications for Board Members / How to Apply

The Polk County Board of County Commissioners appoints nine members to the Industrial Development Authority. Members serve three-year terms and there are no term limits. Each member shall serve and continue to hold office until their successor is appointed. In the event of a vacancy in the office of any member during a term of office, the county commissioners will appoint a successor for the period of the unexpired term. No Industrial Development Authority member will hold dual office.

Service Area

The service area of the development authority is Polk County, Fla. However, the authority is authorized by law to participate in interlocal agreements as provided by the Florida Interlocal Act of 1969, Chapter 163, Part I, Florida Statutes. The members of the authority study the advantages, facilities, resources, products and conditions concerning the county with relation to the encouragement of economic development in the county and, as it deems advisable, uses media to publicize and to make known such facts and materials to such persons, facilities, corporations, agencies, and institutions which, in the discretion of the authority, would reasonably result in economic development in the county.

Taxes, Fees, Assessments and Charges

The Authority currently charges a $3,000 nonrefundable application fee to a person who makes application to·the development authority to finance or refinance a public purpose project. Although the fee is not refundable, the applicant receives a credit for the full amount of the fee if a bond issuance occurs.

If the authority members determine to issue bonds on behalf of the applicant, the applicant is required to pay, at closing of the bond issue, a service charge equal to 1/10 of 1 percent of the first $5 million in principal amount of the bonds and 1/20 of 1 percent for all amounts in excess of $5 million. If the authority is requested to enter into an interlocal agreement to allow another governmental entity to issue bonds to finance or refinance facilities in Polk, the applicant is required to pay the authority a service charge equal to any issuance fee or service charge that would be imposed by the issuer on its issuance of that portion of the bonds financing or refinancing the facilities located in Polk.

In all events, the service charge is a minimum of $3,000 and the application fee is credited against the service charge. The applicant is also responsible for fees and expenses of counsel to the authority and the authority's bond counsel. No taxes, fees, assessments, or charges are imposed and collected by the authority other than as set forth above. The fees are charged pursuant to the general powers granted to the authority by Section 159.28, Florida Statutes.

Contact Us

Primary Contact

James (Dege) J. DeGennaro, Chair
3111 Stonewater Drive
Lakeland, FL 33803
degennaro@ffcfc.com

Registered Office and Registered Agent

David Fisher, Esquire
Peterson & Myers, P.A.
East Polk County Office
242 W. Central Ave.
P.O. Box 7608
Winter Haven, FL 33883
Tel: (863) 676-7611 or (863) 294-3360
Fax: (863) 299-5498
dfisher@petersonmyers.com

Special URL

www.polk-county.net/IDA

For more information, call Dianna Wilson in the County Attorney's Office at (863) 534-6501 or email at DiannaWilson@polk-county.net.

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