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HRA to consider conduit revenue bonds for Metro Deaf School; public hearing set
Summary
St. Paul HRA staff introduced a request to issue conduit revenue bonds to refinance and expand the Metro Deaf School. The HRA and City Council will consider resolutions and a public hearing is scheduled Sept. 24; closing is anticipated in November.
The St. Paul Housing and Redevelopment Authority on Tuesday heard an introduction to a request for the HRA to issue conduit revenue bonds to refinance existing debt and finance an addition at Metro Deaf School, a charter school serving pre‑K through grade 12.
Jenny Wolf, PED staff, told the board the HRA would act only as a conduit for tax‑exempt financing, and that ‘‘conduit revenue bonds are not, are not repayable by any funds of the city or the HRA and they are secured only by revenues of the borrower.’’ The proposal would allow Metro Deaf School (MetroDEF) to access tax‑exempt interest rates that lower borrowing costs while repayment would rest solely with the school and its borrowing entity.
The bond request covers two principal purposes: refinancing a portion of the HRA’s prior conduit bonds issued for the school in 2018 and financing demolition of a…
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