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Housing authority board OKs inducement resolution to issue up to $47.5 million in revenue bonds for WoodSpring Apartments redevelopment
Summary
The Housing Authority Board of Directors approved a resolution declaring intent to issue up to $47.5 million of revenue bonds to finance the redevelopment of the WoodSpring Apartments, including reimbursement of pre‑issuance costs and coordination of tax‑credit and lender financing.
The Housing Authority Board of Washington County voted unanimously June 17 to approve an inducement resolution declaring the authority’s intent to issue up to $47.5 million in tax‑exempt revenue bonds to finance the redevelopment of the WoodSpring Apartments.
Deputy Director Jill Chen and Real Estate Division Manager Lisa Varon presented the scope and financing plan for the project, describing the property as an aging 172‑unit complex whose 30‑year affordability covenants expired…
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