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Commissioners approve tax‑exempt bond approval for Kinsey Green apartment renovations
Summary
The board approved a section 147(f) resolution allowing tax‑exempt bonds (not to exceed $16 million) to finance renovation of the Kinsey Green Apartments; the bonds are revenue bonds to be issued by the Greene County Port Authority and credit‑enhanced by Fannie Mae.
The Greene County Board of Commissioners on Jan. 30 approved a federal tax notice resolution under Internal Revenue Code section 147(f) to permit issuance of tax‑exempt revenue bonds for renovation of the Kinsey Green Apartments.
Brad Ruhey of the Cincinnati law firm Dinsmore & Shohl told commissioners the Port Authority will issue revenue bonds with a not‑to‑exceed principal amount of $16,000,000 for renovation and rehabilitation at Kinsey Green. The project affects 10 units and is expected to take about 12 months,…
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