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Council approves TEFRA hearing resolution to enable $20 million in bonds for Vacaville Gables affordable-housing rehab
Summary
The Vacaville City Council on May 20 adopted a resolution following a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing to permit bond issuance that will support rehabilitation of the 65-unit Vacaville Gables Apartments.
The Vacaville City Council on May 20 held a TEFRA public hearing and adopted a resolution approving issuance of bonds by the California Statewide Communities Development Authority (CSCDA) to finance rehabilitation work at the Vacaville Gables Apartments.
Tamara Kolding, director of Housing and Community Services, told the council the financing enables Vacaville Gables Preservation LP (formerly Ledge) to complete a planned rehabilitation of 65 affordable units previously preserved under affordability restrictions. Kolding…
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