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Council approves JPA financing structure for Marisol senior housing; city says no liability
Summary
The council approved joining a joint powers authority arrangement to facilitate tax‑exempt revenue bonds for a senior housing project across from City Hall, and accepted a payment‑in‑lieu‑of‑tax agreement; the city recorded no direct liability and the vote was 7‑0.
The Huntington Beach City Council voted 7‑0 to join a limited joint powers agreement and to authorize staff to proceed with a financing structure that facilitates California Public Finance Authority (CalPFA) revenue bonds for a senior housing project called Marisol HB, proposed across the street from City Hall.
The council approved adding the city to a narrowly scoped joint powers agreement to allow issuance of tax‑exempt revenue bonds by CalPFA on behalf of Marisol HB LLC and approved related agreements, including a payment‑in‑lieu‑of‑taxes (PILOT) arrangement that will provide the…
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