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Daly City council approves resolution authorizing tax-exempt bonds (up to $25M) for 72-unit Eastmore affordable housing project
Summary
Council approved a resolution allowing tax-exempt bond financing for a proposed 72-unit mixed-use affordable project at Sullivan and Eastmore, citing prior conditional allocations of HOME and PLHA funds and a developer-estimated funding gap.
Daly City's City Council on Feb. 9 approved a resolution authorizing issuance of tax-exempt bonds to support a planned 72-unit mixed-use affordable housing project at Sullivan and Eastmore.
Staff described the project as a mixed-use, 72-unit building that will be financed through the California Statewide Community Development Authority on behalf of Eastbourne Multifamily LP. Presenter Langhausen told…
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