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County adopts intent to issue up to $65 million in bonds for downtown Union Development housing project
Summary
Shawnee County commissioners on Dec. 30 approved a resolution expressing intent to issue taxable industrial revenue/debt bonds in an estimated principal amount of $65 million for a proposed Union Development Holdings LLC multifamily housing project downtown; the board voted 3-0 after a public hearing with no speakers for or against.
Shawnee County commissioners voted unanimously Dec. 30 to adopt a resolution expressing the county’s intent to issue taxable industrial revenue/debt bonds in an estimated principal amount of $65,000,000 for a proposed multifamily housing project by Union Development Holdings LLC.
Bond counsel and county staff described the financing as an inducement resolution intended to allow the developer to pursue project exemptions and to seek low-income housing tax…
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