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Committee amends Treasure Island bond appropriation to match actual sale and forwards affordable-housing predevelopment loan
Summary
Budget analysts recommended reducing a proposed $1.54 million appropriation of tax-increment bond proceeds to the actual sale amount ($1,350,239) to fund a $4.5 million predevelopment loan for a 150-unit affordable housing project on Treasure Island; the committee agreed and forwarded the item to the Board.
The Budget and Finance Committee voted Jan. 10 to forward, as amended, an ordinance appropriating tax-increment revenue bond proceeds from the Treasure Island Infrastructure and Revitalization Financing District to fund predevelopment work for a 150-unit affordable housing project (Parcel IC 4.3).
Jamie Crub…
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