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Housing authority seeks council sign‑off on conduit bonds for Barker Jennings workforce housing
Summary
Staff and the Lynchburg Redevelopment & Housing Authority briefed council on a request for LRHA issuance of $30 million in conduit revenue bonds to support converting the Barker Jennings (1300 Campbell) building into 120–125 workforce units for households at 60–80% AMI, with proposed rents between about $930 and $1,195.
City staff and the Lynchburg Redevelopment & Housing Authority (LRHA) presented an overview of a proposed conduit financing transaction to support the redevelopment of the Barker Jennings building at 1300 Campbell Avenue into workforce housing.
Staff said Estoria/Astoria Housing requested the authority issue $30 million in tax‑exempt revenue bonds; state statute…
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