Hold public hearing on $27 million housing bond for St. John's Partners development

Police & Community SafetyHousingFinance

In Plain English

Federal law requires cities to hold public hearings before tax-exempt bonds finance private housing projects. St. John's Partners wants to use $27 million in bonds for a multifamily housing development. If approved after the hearing, the developer gets lower interest rates and residents get more affordable housing units.

Auto-generated summary. Source: official agenda documents.

Votes

Close public hearing

Moved by: Councilmember ButtSeconded by: Councilmember Ritterman
Passed

6 to 0

McLaughlinAye
ButtAye
BoozéAye
BatesAye
BecklesAbsent
RogersAye
RittermanAye

Adopt Resolution No. 133-12

Moved by: Councilmember ButtSeconded by: Vice Mayor Rogers
Passed

6 to 0

McLaughlinAye
ButtAye
BoozéAye
BatesAye
BecklesAbsent
RogersAye
RittermanAye