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Developers seek council TEFRA hearing for 272‑unit Paxton Station affordable housing project
Summary
Developers asked the council to hold a TEFRA public hearing for Paxton Station, a proposed 272‑unit affordable apartment near the Ballpark front-runner station, so private-activity (tax-exempt) bond financing can be considered by a conduit issuer.
Developers for a proposed 272‑unit affordable housing project at 203 West Paxton Avenue asked the Salt Lake City Council to hold the tax-exempt financing public hearing required under federal tax law (a TEFRA hearing) so a public-benefit conduit issuer can consider issuing private-activity bonds.
City staff explained the proposal: Patriot Services Group (a nonprofit housing developer) aims to build Paxton Station Apartments with 272 units — described in the staff presentation as 182 studio units and 91 one-bedroom units (transcript wording) — and up to 75% of the units would be deed-restricted to households at 60% or 80% of area median income (AMI). The developer expects to use…
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