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Board hears request for TEFRA tax‑exempt bonds to rehab 100‑unit Chicago Avenue apartments
Summary
County attorney Joe Fowler told commissioners the Housing Authority requests that the county act as conduit for tax‑exempt bonds of up to $12 million to rehab a 100‑unit apartment complex on Chicago Avenue; Fowler said roughly 40% of units will be at 60% AMI and 40% at 40% AMI, financing estimates range up to $16 million, and the developer plans construction later this year pending validation and final financing.
Attorney Joe Fowler briefed the Douglas County Board of Commissioners on Feb. 16 about a proposed rehabilitation of an aging 100‑unit apartment complex on Chicago Avenue and the preceding TEFRA process. The Housing Authority of Douglas County requested that the county approve issuance of tax‑exempt revenue bonds as part of the financing package.
Fowler said the developer is seeking…
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