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NRHA seeks private-activity bonds for Broad Creek and Tidewater Gardens redevelopment; council presses for relocation plan
Summary
NRHA asked the council to consider private-activity multifamily bond requests for Broad Creek (88 units, 64 RAD project-based units) and Tidewater Gardens/Kindred Phase B2 (101 units with a 47-unit replacement component); councilmembers pressed NRHA for clearer relocation plans, timing, and tenant protections after renovation.
Norfolk Redevelopment and Housing Authority officials presented two private-activity multifamily bond requests at the council work session on Dec. 25, seeking financing to renovate and rebuild public-housing sites as part of mixed-income redevelopments.
Deborah Stevens, NRHA chief housing and real estate officer, summarized Broad Creek plans: the project will include 88 total units, with 64 units converted to Project-Based Rental Assistance through the RAD program, nine market-rate units and the remainder financed with low-income housing tax credits. Stevens said renovations will include full interior and exterior work and that NRHA will hold a long-term ground lease. "Tenant will pay 30% of household income"…
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