Approve $48 million bond issuance for 105-unit affordable apartment project

Police & Community SafetyHousingCommunity Development

$48,000,000

Resolution Resolution No. 145-25

In Plain English

A developer wants to build 105 affordable rental apartments at 1827 San Joaquin Avenue. The city must approve bond financing through a state authority before construction can begin. Richmond has no financial responsibility for repaying the $48 million bonds. If approved, the city receives a portion of bond fees for general use.

Auto-generated summary. Source: official agenda documents.

Votes

Approve consent calendar

Moved by: Councilmember Claudia JimenezSeconded by: Vice Mayor Cesar Zepeda
Passed

7 to 0

Soheila BanaAye
Jamelia BrownAye
Claudia JimenezAye
Doria RobinsonAye
Sue WilsonAye
Cesar ZepedaAye
Eduardo MartinezAye