Shell Point will use the proceeds of the Series 2024C Bonds, together with other funds, to construct a “Town Center” for the community in the Island neighborhood. The Town Center will be used to house Shell Point’s administration building and its current Island amenities, as well as serve as the new hurricane shelter for its independent living residents. The Series 2024C Bonds are rated BBB+ (Stable Outlook) by S&P Global Ratings and BBB+ (Stable Outlook) by Fitch Ratings, Inc.