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Council preview: bridge loan proposed to let social housing developer begin work before new tax revenue starts
5111266 · June 30, 2025
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Summary
Council briefing included an outline of a proposed bridge loan that would advance funds to the social housing developer created by Initiative 137; the city would collect the new tax revenue and use it to repay the loan once collections begin.
Councilmember who oversees finance committees told colleagues June 30 that the city, the mayor's office and the social housing developer have agreed on a proposed bridge loan to let the developer start operations before voter-approved tax revenue begins…
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