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Committee backs sending $1.313 billion multifamily revenue-bond request for Essex Hotel conversion to full Board
Summary
The committee advanced a resolution to authorize multifamily housing revenue bonds not to exceed $1,313,000,000 to convert the Essex Hotel into 108 permanent supportive housing units for formerly homeless residents; Mayor—s Office of Housing said work could begin in about two weeks.
The Budget & Finance Committee voted to forward to the full Board a resolution authorizing the issuance of multifamily housing revenue bonds of up to $1,313,000,000 to finance conversion of the Essex Hotel at 684 Ellis Street into supportive housing.
Joe Olipski, representing the Mayor—s Office of Housing, said the project would convert a 108-room…
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