Hold public hearing on $57 million tax-exempt bonds for Westridge at Hilltop affordable housing
In Plain English
The California Municipal Finance Authority wants to issue $57 million in tax-exempt bonds to help finance improvements at Westridge at Hilltop affordable housing complex. Richmond must hold this public hearing because the project is within city limits, even though the city is not issuing the bonds itself. Federal law requires cities to allow public comment before tax-exempt bonds can be issued for projects in their jurisdiction.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 60-14
7 to 0
Why This Vote Matters
Richmond unanimously approved a resolution allowing the California Municipal Finance Authority to issue $57 million in tax-exempt bonds for improvements at the Westridge at Hilltop affordable housing complex. The city was required by federal law to hold this public hearing and allow comment before the bonds could be issued, even though Richmond is not issuing the bonds itself. This procedural vote enables the financing to move forward for upgrades to the existing affordable housing development. The approval continues the council's pattern of broad support for housing measures across most members.
Auto-generated context. Source: official meeting records.
Other motions
Close the public hearing
PassedCommunity Discussion
This discussion was submitted to the City Clerk as part of the public record.
Comments are submitted to the Richmond City Clerk before the meeting. By commenting, you agree to have your name and comment included in the public record.
Similar Discussions
5 related items found by meaning
Hold public hearing on $40 million tax-exempt bonds for Westridge Apartments renovation
Hold public hearing on $10 million housing revenue bonds
Approve $48 million bond issuance for 105-unit affordable apartment project
Approve $18 million bond financing to rehabilitate 156 affordable housing units
Hold public hearing on $55 million revenue bonds for Barrett Terrace affordable housing
The Story So Far
3 prior discussions on this topic
Order preparation of annual report for Hilltop landscaping costs
Approve $152 monthly rent increase for Parks Division storage yard
Approve 3% increase in annual assessments for Hilltop landscape maintenance
Related by category
Approve 3-year contract with Enterprise for police rental cars
Apply for state grant to fund bike and pedestrian improvements near new affordable housing
Approve $300,000 grant for tiny house village project at 175 23rd Street
Buy concrete barriers and boulders to block homeless camps and protect city property
Receive presentation on research for new real estate disclosure requirements
Receive letters from residents about rent control and eviction laws
Increase loan to $10.3 million for Civic Center homeless housing project