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Council approves $35 million housing bond issuance; developers pitch Fourth Ward project at meeting
Summary
The Gastonia City Council approved a consent-agenda item authorizing action tied to a $35 million housing bond issuance for the Lofts at Hudson and heard a public-private partnership pitch for Fourth Ward housing.
The Gastonia City Council approved its consent agenda, which included authorization related to a Gastonia Housing Authority bond issuance of approximately $35,000,000 to support a multifamily project known as the Lofts at Hudson.
During public discussion council members and the housing attorney explained the role of the housing authority and how such bond issuances work. Nancy Pascall, attorney for the Gastonia Housing Authority, told the council the housing authority acts solely as the issuer; the authority has no fiscal liability for the developer’s debt. She said the request represented an increase of about $5 million from a…
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