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Committee backs $240 million conduit bonds for 1601 Mariposa affordable housing project
Summary
The Budget & Finance Committee unanimously forwarded a resolution authorizing up to $240 million in conduit multifamily housing revenue bonds to finance acquisition and construction of the 1601 Mariposa Apartments, which will include 60 affordable units targeted to households at roughly 40–50 percent of area median income.
The Budget & Finance Committee unanimously recommended that the full Board of Supervisors approve a resolution authorizing the issuance and delivery of multifamily housing revenue bonds in an amount not to exceed $240 million for the 1601 Mariposa Apartments.
Adam Cray, bond program manager in the Mayor’s Office of Housing and Community Development, described…
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