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Council approves private‑activity bond allocations and inducements for two affordable housing projects
Summary
City Council authorized carry‑forward of private activity bond cap and approved inducement and bond issuance steps for Bradley Ridge (336 units) and Royal Pine (232 units).
The City Council on May 13 approved a package of actions to preserve and deploy private activity bond capacity to support two multifamily affordable developments: Bradley Ridge and Royal Pine.
Amy Cox, the city’s chief housing and homelessness officer, told council the city seeks to carry forward $38,865,865 in private activity bond volume cap to fund qualifying low‑income housing tax credit projects. Council adopted the carry‑forward resolution unanimously.
Cox described Bradley Ridge, a proposed 336‑unit development in the Peak Innovation Park area, as a low‑income housing tax credit project with several supportive…
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