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IDB authorizes $48 million in tax‑exempt bonds for Dominion’s Trinity Lane affordable housing project
Summary
The Industrial Development Board approved a final authorizing resolution allowing a public offering of $48 million in tax‑exempt bonds to finance Dominion’s Trinity Lane Apartments (approximately 233 units at 60% AMI). Collier Securities will underwrite the publicly offered bonds; the financing is conduit, with no recourse to Metro or the IDB.
The Industrial Development Board approved a final authorizing bond resolution on Nov. 12 to permit issuance and sale of up to $48,000,000 in tax‑exempt bonds for the Trinity Lane Apartments, a Dominion‑sponsored 233‑unit affordable housing development targeted at 60% area median income.
Corbin, issuer’s counsel, summarized the bond documents and noted the resolution authorizes the issuer to proceed to the market. Frank…
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