Title
Affordable Housing General Obligation Bonds
Action
Action:
Adopt a bond order and resolution to provide for the issuance of General Obligation Bonds for Affordable Housing not to exceed $75,000,000.
Body
Staff Resource(s):
Teresa Smith, Finance
Matt Hastedt, Finance
Explanation
§ This action will authorize the issuance of affordable housing bonds approved by voters in 2022 and a portion of those approved in 2024:
- 2022: $50,000,000
- 2024: $25,000,000
§ This issuance will provide funding for previously authorized Housing Trust Fund projects as well as reimburse the city for funds spent on affordable housing developments.
Fiscal Note
Funding: Municipal Debt Service Fund
Attachments
Attachment(s)
Resolution