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Centennial to put $6.95 million private-activity bond cap on Aug. 19 agenda for South Metro Housing Options' 'Starlight' project
Summary
South Metro Housing Options asked Centennial to assign its full 2025 private-activity bond (PAB) cap—$6,955,326—to support a 73‑unit affordable project called Starlight near Littleton; council offered informal support and staff will bring a resolution on Aug. 19.
Centennial city officials on Aug. 5 signaled support for assigning the city’s full 2025 private‑activity bond cap—$6,955,326—to South Metro Housing Options (SMHO) to help finance a 73‑unit affordable housing project called Starlight near Littleton, with a formal resolution slated for the council’s Aug. 19 consent agenda.
The request matters because private‑activity bonds are tax‑exempt financing that can lower mortgage interest rates for projects that use low‑income housing tax credits. Sarah Burr, Real Estate Development Manager for South Metro Housing Options, told the council the project’s total cost is about $32 million and that the development requires roughly…
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