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Board approves inducement for $18 million rehab of Eastwood Manor on Wilcox Boulevard
Summary
The Health, Education and Housing Facilities Board approved a preliminary bond inducement allowing up to $18 million in multifamily housing revenue bonds to support acquisition and rehabilitation of Eastwood Manor at 3831 Wilcox Boulevard, a 98‑unit project currently 100% project‑based Section 8.
The Health, Education and Housing Facilities Board of the City of Chattanooga approved a preliminary inducement resolution to authorize up to $18,000,000 in multifamily housing revenue bonds to finance acquisition and rehabilitation of Eastwood Manor at 3831 Wilcox Boulevard.
The board’s action on the TEFRA hearing authorizes the initial step needed for the developer to apply to the Tennessee Housing Development Agency for tax‑exempt bonds and low‑income housing tax credits. Jay Moneyhunt of Bass, Berry & Sims, serving as…
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