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Board approves TEFRA notice for Provident Resources housing project financing
Summary
Supervisors approved a TEFRA notice allowing up to $120 million in revenue bonds for Provident Resources Group to proceed with an affordable housing project; supervisors requested additional detail about income limits and deed restrictions during the hearing.
The Board of Supervisors on Tuesday approved a Tax Equity and Fiscal Responsibility Act (TEFRA) notice authorizing the California Public Finance Authority to issue up to $120 million in revenue bonds for Provident Resources Group and subsidiaries.
The project discussed in the hearing includes a mix of units described in the applicant materials as student…
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