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Littleton council hears how private-activity bond cap can leverage affordable housing
Summary
City staff and South Metro Housing Options told Littleton council that the city's $2.9 million private-activity bond allocation can be assigned or carried forward to help finance low-income housing projects; council asked staff to return with a resolution before the state's Sept. 15 relinquishment deadline.
Littleton City Council discussed using the city's 2025 private activity bond volume cap to support affordable housing development at a study session, with South Metro Housing Options and bond counsel outlining how the tool works and asking council to consider assigning the cap to an issuing authority.
The discussion mattered because private-activity bond volume cap unlocks tax-exempt financing and federal 4% low-income housing tax credits that can supply equity for multifamily affordable developments, presenters said.
Kathleen Osher, deputy city manager, introduced the discussion and invited South Metro Housing Options and bond counsel to explain how Littleton could use its allocation. Bond counsel Corey Kalanak of Taft Law described the volume cap as "a little bit more like a permission slip to issue private…
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