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OCII moves to hire financing and legal advisers ahead of proposed $130M tax allocation bond for affordable housing
Summary
OCII authorized multiple consultant contracts — financial adviser, bond counsel and disclosure counsel — as the agency prepares to issue up to $130 million in new money tax allocation bonds to fund affordable housing projects, subject to oversight board and Department of Finance approval.
The Office of Community Investment and Infrastructure Commission voted June 1 to authorize contracts for a financing team as OCII prepares a proposed issuance of new money tax allocation bonds to fund affordable housing obligations.
John Daigle, senior financial analyst and debt manager at OCII, told the commission staff plans to issue $130,000,000 in new tax allocation bonds this fiscal year, subject to oversight board and California Department of Finance approval. He said the bonds would provide partial funding for three expected projects —…
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