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Oxnard City Council hears $20M TEFRA request for Cypress Place at Garden City Phase 2
Summary
David Metchas, a project manager in the housing department, presented a recommendation that the council conduct a TEFRA hearing and adopt a resolution to approve up to $20 million in tax-exempt bonds to finance Cypress Place at Garden City Phase 2, a proposed 60-unit affordable rental project at 5482 Cypress Road.
David Metchas, project manager with the housing department, presented a proposal to the Oxnard City Council to allow tax-exempt bond financing for Cypress Place at Garden City Phase 2, a proposed 60-unit multifamily rental project at 5482 Cypress Road.
Metchas said the project has applied for issuance and reissuance of $20,000,000 in exempt facility bonds through the California Municipal Finance Authority (CMFA) to finance and refinance acquisition, construction and development. He…
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