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Council briefed on Bradley Ridge affordable housing bonds; 336 units, childcare and veteran set‑asides described
Summary
Amy Cox, the city’s chief housing officer, presented an ordinance introduction authorizing up to $76.83 million in multifamily housing revenue private activity bonds for the Bradley Ridge Apartments, a 336‑unit LIHTC project near South Powers and Bradley Road that includes on‑site childcare and 20 veteran‑priority units.
Amy Cox, chief housing and homelessness response officer for the City of Colorado Springs, told council on Aug. 11 that the city is preparing to introduce an ordinance to authorize multifamily housing revenue private activity bonds for the Bradley Ridge Apartments, a 336‑unit Low‑Income Housing Tax Credit (LIHTC) project in Southeast Colorado Springs.
Cox said the ordinance introduction is the final municipal step after an inducement resolution the council approved May 13; the project has completed due diligence items required by the city’s private activity bond process, including a market study, commitment to purchase the bonds and sufficient debt and equity to close.…
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