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Council approves supplemental $7.5M TEFRA steps for Seabreeze Gardens rehab
Summary
Council and the Housing Authority approved measures to pursue a supplemental $7.5 million tax‑exempt bond allocation to cover unforeseen rehabilitation costs at Seabreeze Gardens; staff said rehabilitation is roughly 79% complete and additional funds will support structural, ADA and solar upgrades.
The City Council and the Housing Authority approved staff recommendations on July 22 to take final steps toward issuing up to $7.5 million in supplemental tax‑exempt multifamily revenue bonds for the Seabreeze Gardens rehabilitation project (item 3 30 and HA2).
Housing finance staff said the $7.5 million request responded to unforeseen structural and electrical repairs discovered during rehabilitation.…
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