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Council gives preliminary approval to up to $50 million conduit bonds for Real Estate Equities project
Summary
The Cottage Grove City Council approved preliminary authorization on Aug. 6 for up to $50 million in conduit multifamily housing revenue bonds for Real Estate Equities LLC, increasing a 2024 allocation of $32 million and allowing about $8 million to be recycled through the Washington County CDA.
The Cottage Grove City Council on Aug. 6 approved as part of the consent agenda a preliminary authorization for the issuance of conduit multifamily housing revenue bonds for Real Estate Equities LLC of up to $50,000,000.
Finance staff explained that the council originally gave preliminary conduit approval in 2024 for $32,000,000 and that the developer is now requesting an increase to $50,000,000. The additional amount reflects a recycling of roughly $8,000,000 through the Washington…
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