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Alpharetta authority approves revenue note to finance rehab of 100-unit Dogwood Square senior housing
Summary
The Alpharetta Development Authority voted 4-0 to authorize a tax‑exempt revenue note, not to exceed $20 million, to support the acquisition and rehabilitation of Dogwood Square, a 100‑unit senior affordable housing community at 555 Janice Lane.
The Alpharetta Development Authority voted 4-0 to adopt a resolution authorizing the issuance of tax‑exempt revenue notes, in an aggregate principal amount not to exceed $20,000,000, to support the acquisition and rehabilitation of Dogwood Square, a 100‑unit senior affordable housing property at 555 Janice Lane in Alpharetta.
The measure matters because the property is covered by a U.S. Department of Housing and Urban Development Section 8 HAP contract that provides long‑term rent support for residents. Authority staff and legal counsel said the issuance would further the public purposes of the authority by preserving affordable housing in the city.
Legal counsel told the authority the…
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