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Council approves financing for Donner Field Senior Apartments, a 67‑unit affordable senior project
Summary
The City Council held a TEFRA hearing and approved final funding documents allowing the Housing Authority to issue up to $30 million in tax‑exempt multifamily mortgage revenue bonds and a construction/permanent loan for Donner Field Senior Apartments, a new 67‑unit project for seniors at or below 50% AMI.
The Sacramento City Council on Tuesday approved final financing documents and held a Tax Equity and Fiscal Responsibility Act (TEFRA) hearing for Donner Field Senior Apartments, clearing the way for tax‑exempt multifamily bonds and related loans to fund the project.
Christine Weichard of the Sacramento Housing and Redevelopment Agency told the council this is "a TEFRA hearing and approval of the final funding documents for Donner Field Apartments," and summarized the proposal: new construction of 67 one‑ and two‑bedroom units for seniors at or below 50% of area median income, one manager unit, and resident amenities including a…
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