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
Community Discussion
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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
Meeting Minutes
Increase housing authority gutter replacement contract by $322,000 due to hidden damage
Meeting Minutes
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
Increase contract with development advisor by $160,000 for Homekey housing project oversight
Contract with Brightview for landscaping at Nystrom Village and Hacienda Excess Lot