Issue $36.5 million in refunding bonds to reduce redevelopment agency debt costs
$36.5 million
Resolution 33-10a, 10-1, 10-09
In Plain English
The Richmond Community Redevelopment Agency currently pays higher interest rates on existing bonds used to fund downtown and waterfront projects. Refunding these bonds at lower rates saves taxpayers money over time. If approved, the city issues new $36.5 million bonds to pay off the old ones at reduced interest costs.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
7 to 0
Community Discussion
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Similar Discussions
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Authorize up to $25 million in bonds to refinance old redevelopment debt
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Approve budget changes for Richmond Community Redevelopment Agency
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Approve payment schedule for former redevelopment agency debts
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