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Murrieta council approves TER Act findings for two affordable-housing financings
Summary
The council adopted federal TEFRA/TERA compliance findings tonight to allow the California Municipal Finance Authority to issue tax-exempt bonds for the Jefferson 82 and Vista Heights affordable-housing projects; staff said the city will have no financial obligation. Council members pressed for transparency on planning and parking.
The Murrieta City Council voted unanimously April 21 to adopt findings under the federal tax-equity procedures that allow the California Municipal Finance Authority to issue tax-exempt bonds for two local affordable-housing developments.
City Planner Carl Steele told the council the Jefferson 82 project is a four‑story, 82‑unit apartment building on a city-owned two‑acre site and that the borrower has requested up to $20 million in bond financing. Staff said the bond debt will be the sole responsibility of the…
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