Subordinate city's $4.5 million housing loan to new $17.5 million bond
Resolution 78-16
In Plain English
The city loaned $4.5 million to the Richmond Housing Authority for affordable housing upgrades at Friendship Manor and Triangle Court. The housing authority now needs a new $17.5 million bond to complete the project. The city agrees to be paid back after the bond holders if the housing authority defaults.
Auto-generated summary. Source: official agenda documents.
Votes
Motion · Official minutes
Approve consent calendar
7 aye · 0 nay
Related agenda records
Automatically matched by topic. Open an item to check its relevance and each motion’s outcome.
Adopt a resolution of the City Council of the City of Richmond Approving the Issuance by the Richmond Joint Powers Financing Authority of not to exceed $9,500,000 Principal Amount of Richmond Joint Powers Financing Authority Reassessment District Revenue Refunding Bonds, Series 2016
Loan agreements between City and RHA Housing Corporation
Write-Off of Uncollectable Richmond Housing Authority Debt
Richmond Neighborhood Housing Services loan extension
Resolution amending 2010-2015 Consolidated Plan