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Council briefed on Housing Authority resolution to approve up to $24 million in multifamily revenue bonds
Summary
Assistant City Manager Jade Dundas presented a consent-item resolution for the Housing Authority to approve issuance of up to $24,000,000 in multifamily housing revenue bonds, described as an administrative action required by IRS rules; no vote recorded during the briefing.
Assistant City Manager Jade Dundas told the council that Item D is a resolution of the Housing Authority of the City of Asheville to adopt a resolution approving issuance of up to $24,000,000 in multifamily housing revenue bonds. Dundas described this as an administrative action required under Internal Revenue Service regulations and said the action is being taken on behalf of the Housing Authority.
Dundas did not present additional detail on specific projects that would use the bond proceeds during the briefing and no formal vote or amendment was recorded in the session. Council members did not request further detail during the agenda review; staff offered to provide follow-up information if requested at a future meeting.
Because the briefing covered a wide consent agenda, Dundas framed the item as a standard administrative step rather than a new discretionary borrowing decision by the City Council.
