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Council approves $12 million bond certificate for South Mesa Hills affordable rental project
Summary
The council approved resolutions authorizing up to $12 million in tax-exempt bond issuance and a no-objection letter to the Texas Department of Housing and Community Affairs for a South Mesa Hills affordable rental project. The development will deliver 104 affordable units in two phases and is expected to be in service by December 2026.
El Paso City Council on Tuesday approved two related resolutions authorizing the mayor to sign a certificate approving proposed bond financing and confirming that the city has no objection to a South Mesa Hills residential rental project financed through tax-exempt bonds and low-income housing tax credits.
City staff and legal counsel said the Alameda Public Facilities Corporation — a public facility corporation associated with the Housing Authority of the City of El Paso (HOME) — seeks authority for an issuance not to exceed $12,000,000 to satisfy IRS and state…
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