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Board OKs tax‑exempt financing hearing for Lone Oak Senior 2, up to $11 million
Summary
Following a TERA hearing, the board adopted a resolution approving proposed issuance of tax‑exempt bonds by the California Municipal Finance Authority to finance Lone Oak Senior 2, a senior rental project in Penn Valley; the county will bear no repayment responsibility, staff said.
The Board of Supervisors adopted a resolution at the April 14 meeting to satisfy the public hearing requirement of the federal Tax Equity and Fiscal Responsibility Act (TERA) for proposed tax‑exempt financing not to exceed $11 million for the Lone Oak Senior 2 apartments in Penn Valley.
Tyler Bington, the county's director of housing and community services,…
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