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Authority clears $20M bond for 80-unit multifamily development on Mosby Road
Summary
The board approved a bond resolution to support an 80-unit multifamily project near Mosby Road; roll-call votes were recorded and staff said the item is a consenting authorization to proceed with bond closing tasks.
The Harrisonburg Redevelopment and Housing Authority voted to approve a bond resolution enabling an approximately $20 million financing package for an 80-unit multifamily development located off Mosby Road. Staff described the item as a consent resolution needed to complete bond closing activities.
During the roll call the board recorded ayes from the present members and the chair confirmed the motion passed. Staff explained the project would include project-based vouchers to support affordability and summarized issuance fees associated with the transaction.
Staff said the two bond resolutions (senior and multifamily) were presented together for consent and would proceed separately through signatures and closing steps.
