Authorize $25 million in bonds for affordable housing repairs at 2 complexes
In Plain English
The city must hold a public hearing before developers can issue tax-exempt bonds for affordable housing projects. Friendship Manor and Triangle Court need major repairs and upgrades. If approved, private developers use the bonds to fund rehabilitation while the city takes no financial responsibility.
Auto-generated summary. Source: official agenda documents.
Votes
to close the public hearing
7 to 0
to adopt Resolution No. 95-13
7 to 0
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