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OCII approves MOU to transfer roughly $8.25 million in tax‑exempt bond proceeds to Mayor’s housing office
Summary
The Commission on Community Investment and Infrastructure voted Nov. 17 to authorize a memorandum of understanding to grant up to about $8.25 million in pre‑2011 tax‑exempt bond proceeds to the Mayor’s Office of Housing and Community Development for elevator repairs at nine public‑housing sites and rehabilitation of nonprofit-owned affordable housing.
The Commission on Community Investment and Infrastructure on Nov. 17 voted to authorize a memorandum of understanding with the Mayor’s Office of Housing and Community Development (MOHCD) to transfer up to approximately $8.25 million in tax‑exempt bond proceeds for housing repairs and rehabilitation.
Jeff White, OCII housing program manager, told commissioners the funds come from bond issues issued before 2011 and are excess under redevelopment dissolution law. White said the transfer would be subject to approval by the Oversight Board and the Department of Finance and would…
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