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Spokane Housing Authority seeks city approval to issue revenue bond for affordable housing in Spokane Valley
Summary
Spokane Housing Authority presented a TEFRA hearing update and asked the council for consensus to consider a resolution next week approving issuance of a revenue bond to finance construction of a multifamily affordable housing project; the city will incur no financial obligation.
Gloria Manns, city services administrator, and John Chatburn, director of asset management for the Spokane Housing Authority, briefed council on a proposed revenue bond issuance to finance a multi-family affordable housing project in Spokane Valley.
Manns said the Housing Authority and city previously partnered to apply for a CHIP grant that will fund utility installation for the project, and she said the grant was awarded. Chatburn said the Housing Authority held a TEFRA hearing (Tax Equity and Fiscal Responsibility Act of 1982) the day before and "had no comments from the public," and he said the Authority is targeting a June closing and anticipates the first family moving in around April 2026 if the schedule holds.
Manns said the jurisdiction where the project is located must approve the issuance of the revenue bond as required by IRS rules; she emphasized that "there is no financial responsibility or obligation that the city will be incurring with this" and noted the city has partnered with the Housing Authority on similar approvals in prior years. Chatburn said the developer partner is Inland Group; he described Inland as the Authority’s for-profit partner for turnkey development work on several local projects.
Council asked questions about the Inland Group and project timing. The council provided consensus to consider a resolution for approval at the May 6 council meeting so the city can complete the required local approval step for the Housing Authority’s bond issuance.
