Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Commissioners discuss RHID financing for a proposed housing project; key questions remain
Summary
Commissioners received an explanation of how a Reinvestment Housing Improvement District (RHID) bond would work and raised questions about project valuation, length of revenue diversion and who bears default risk; no binding decision was made and the item will return for further consideration.
At a regular meeting, commissioners discussed a proposed Reinvestment Housing Improvement District (RHID) structure for a residential project and asked detailed questions about tax impacts and project valuation.
Commissioner (speaker 2) explained the basic structure to colleagues: "The RHID bond would be taken out. The city would take a bond approximately 20 to 25 years long... That project is worth approximately $3,000,000 because…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
