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Council asked to give preliminary approval to multifamily revenue bonds for Concord Chase rehab
Summary
Poplar Development Group is seeking a conduit bond allocation and tax credits for Concord Chase Apartments, a 24-unit affordable development; staff said bonds not to exceed $27 million and that the city would act as issuer similar to a prior Coleman Mill transaction.
Jessica, a staff member, told the council that an attorney for Poplar Development Group has applied for a conduit debt issuance and tax credit allocation to acquire and renovate Concord Chase Apartments, a 24-unit affordable housing development on Wilshire Avenue built in 2002.
Jessica described the request as an initial…
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