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Belmont council approves TEFRA hearing and resolution for The Ridge at Ralston
Summary
The Belmont City Council held a TEFRA hearing and voted 4–0 to adopt a resolution allowing tax-exempt conduit financing for The Ridge at Ralston (678 Ralston Ave.); staff emphasized the bonds are conduit obligations and not the city's debt.
The Belmont City Council voted 4–0 on April 28 to adopt a resolution required by a TEFRA hearing that clears the way for tax-exempt conduit financing for The Ridge at Ralston, a proposed multifamily affordable housing project at 678 Ralston Avenue.
Toby Lieberman, the city’s housing and economic development manager, told the council the project was approved by Belmont in May 2024 and received a $1,000,000 city funding…
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