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Oxnard City Council hears presentation on TEFRA financing for proposed 234‑unit Lockwood 3 apartments
Summary
The City of Oxnard heard a presentation recommending a TEFRA hearing and a resolution to authorize tax‑exempt bond financing for the Lockwood 3 Apartments, a proposed 234‑unit affordable rental project at 2151 Lockwood Street. The developer applied for $20 million in bonds; the resolution would authorize up to $70 million.
David Mechas, project manager with the housing department, presented a Tax Equity and Fiscal Responsibility Act (TEFRA) hearing item on financing for the proposed Lockwood 3 Apartments at 2151 Lockwood Street.
Mechas said the project has applied for issuance of $20,000,000 in exempt facility bonds from the California Municipal Finance Authority. "The TEFRA hearing is intended to allow for community…
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