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Wichita County authorizes judge to sign resolution allowing tax-exempt bonds for Sun Valley Apartments rehabilitation
Summary
The commissioners approved a resolution permitting Nortex Housing Finance Corporation to pursue tax-exempt bond financing for the acquisition and rehabilitation of Sun Valley Apartments at 1315 Central Freeway East; the court stressed the county will not assume liability and held a required public hearing.
County commissioners on Tuesday authorized the county judge to sign a resolution allowing Nortex Housing Finance Corporation to pursue tax-exempt bond financing to acquire and rehabilitate the Sun Valley Apartments at 1315 Central Freeway East in Wichita Falls.
The action followed a public hearing required by a recent change in state law; the court voted 5-0 on a motion by Commissioner Watts, seconded by Commissioner Beauchamp, to permit the housing finance authority to proceed. County officials repeatedly said the action does not create county liability or additional county debt.
Why it matters: The project aims to renovate a 133-unit multifamily complex that county and housing officials described as in need of…
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