Issue $48 million in revenue bonds for 150-unit senior affordable housing project
In Plain English
Richmond Hacienda wants to build 150 affordable apartments for seniors at 1300 Roosevelt Avenue. The developer needs the city to approve $48 million in tax-exempt bonds to finance construction. If approved, the city acts as a pass-through for the financing but takes on no financial risk or debt obligations.
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Votes
Adopted Resolution No. 11-21
PassedSimilar Discussions
5 related items found by meaning
Approve $18 million bond financing to rehabilitate 156 affordable housing units
Approve $48 million bond issuance for 105-unit affordable apartment project
Buy Richmond Housing Authority building for $1 to house job training programs
Authorize $3 million in bonds to fund housing rehabilitation projects
Issue $36.5 million in refunding bonds to reduce redevelopment agency debt costs
The Story So Far
10 prior discussions on this topic
Increase loan to $10.3 million for Civic Center homeless housing project
Receive presentation on banning corporate ownership of residential properties
General Plan and Zoning Text Amendments Related to 6th Cycle Housing Element Program Implementation
Approve $1.25 million contract for road striping and street signs
Meeting Minutes
Meeting Minutes
Increase housing authority gutter replacement contract by $322,000 due to hidden damage
Pay $36,000 in overdue landscaping bills for emergency tree removal at public housing
Receive presentation on banning corporate purchases of residential properties
Hire 13 financial consulting firms to analyze real estate deals and development projects