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Housing project staff present TEFRA hearing for Aspire Apartments; $25 million tax-exempt bonds proposed
Summary
A city housing official told the City Council that Aspire Apartments has applied for up to $25,000,000 in tax-exempt bonds through the California Municipal Finance Authority to finance an 88-unit affordable rental project at 536–538 Meta Street; staff recommended the council conduct the required TEFRA hearing and adopt a resolution.
David Metchas, project manager with the Oxnard City Housing Department, presented a Tax Equity and Fiscal Responsibility Act hearing on behalf of the Aspire Apartments project, saying the developer has applied for up to $25,000,000 in tax-exempt exempt facility bonds from the California Municipal Finance Authority.
"The Aspire Apartments project has applied for issuance of $25,000,000 of exempt facility bonds from the California Municipal Finance…
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