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Council holds TEFRA hearing, approves tax‑exempt refinancing for Clear Lake Apartments
Summary
The council held a TEFRA hearing and approved Resolution 2021‑54, supporting up to $8 million in tax‑exempt bonds to refinance and rehabilitate the 72‑unit Clear Lake Apartments, with per‑unit upgrades estimated at about $60,000 and an affordability term extended 55 years.
The City Council of Clearlake on the evening’s agenda held a Tax Equity and Fiscal Responsibility Act hearing and approved a resolution allowing the California Statewide Communities Development Authority to issue tax‑exempt multifamily housing revenue bonds for the Clear Lake Apartments.CSCDA managing director James Hamill, appearing by Zoom,…
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