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Board approves resolution authorizing up to $7 million in conduit bonds tied to Kindlewood phase financing
Summary
The board approved Resolution 1501 to authorize conduit issuance of up to $7 million in multifamily revenue bonds; staff explained the conduit role and project financing for Kindlewood phase 3B, which will use tax‑exempt bonds alongside low‑income housing tax credit equity and requires city council approval before closing.
The Charlottesville board voted to approve Resolution 1501, authorizing the issuance of up to $7 million in multifamily revenue bonds to support a redevelopment project presented as Kindlewood phase 3B. Board materials referenced the resolution number and project financing; staff emphasized the conduit issuer role and that the authority would not assume repayment liability.
"You are acting as a conduit issuer, meaning you're issuing the bonds, but you're not using your own…
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