Tustin council authorizes participation in CMFA bond program to support development
The council authorized participation in the California Municipal Finance Authority's community facilities district bond program, a financing option for developer-funded public improvements; the motion passed unanimously and was described as a step advancing the Red Hill housing project.
The full story
The Tustin City Council voted unanimously to authorize participation in the California Municipal Finance Authority’s Community Facilities District Bond Opportunities for Land Development program, a mechanism that enables land developers to finance public improvements and development impact fees through tax-exempt bonds.
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