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Committee backs TEFRA resolution for 53 Colton affordable housing financing
Summary
The committee advanced a TEFRA-related resolution authorizing MOHCD to pursue tax-exempt conduit bond financing for a proposed 96-unit affordable project at 53 Colton Street; MOHCD said the project will house formerly homeless adults and expects to begin construction as soon as Sept. 2020.
The Budget Committee moved forward a resolution authorizing the mayor’s office to pursue conduit tax-exempt residential mortgage revenue bonds for a proposed affordable housing project at 53 Colton Street.
Joyce Slen, a project manager at the Mayor’s Office of Housing and Community Development, told the committee the TEFRA-related…
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