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Arlington Housing Finance Corp. authorizes initial step for April Housing to apply for private‑activity bonds to rehab Mayfield Park
Summary
AHFC reported Reserve at Mayfield (senior affordable housing) is complete and fully occupied; the AHFC board approved an initial resolution allowing April Housing to apply for private‑activity bond allocation to acquire and rehabilitate Mayfield Park Apartments and to explore extending affordability beyond the current 2030 expiration, subject to further approvals and property‑tax PILOT discussions.
Mister Peele reported to the council on Oct. 14 for the Arlington Housing Finance Corporation that the Reserve at Mayfield senior affordable housing project—originally financed with bonds in 2022—is complete and fully occupied, and that staff continues work to transition from construction financing to a permanent mortgage.
Peele said April Housing has asked the AHFC board for permission…
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