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Council holds TEFRA hearing and approves financing for Via Verde affordable housing; modifies residual receipt shares
Summary
Council conducted a TEFRA public hearing supporting up to $60M in CMFA bonds for Abode Communities’ Via Verde (108 units) and approved staff adjustments to the city's residual‑receipt share for Chelsea and Abode projects so financing can close; staff said the city has no repayment obligation.
The council held a TEFRA public hearing on March 25 and approved a resolution supporting potential tax‑exempt bond financing by the California Municipal Finance Authority for Abode Communities’ Via Verde affordable housing project (108 units) in an amount not to exceed $60,000,000. Staff emphasized that the bonds would be…
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