(5)(c)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 01/08/2025
- Title:
- Submitted By:
- Renee Edgar, City Secretary
- Department:
- City Secretary
Information
ACTION REQUEST
A Resolution Approving An Issuance Of Bonds In Support Of The Southeast Texas Housing Finance Corporation For Piedmont Apartments-baytown ($30,000,000) Located In Baytown, Texas
BACKGROUND (Brief Summary)
City of Texas City as a governmental unit participates in the Southeast Texas Housing Finance Corporation program and feels it is in the best interest of the City to support the City of Baytown, Texas, in its efforts to seek Multifamily Housing Tax-Exempt Bonds to develop a multifamily property.
The issuance of the above-referenced bonds is expected to advance the Corporation’s continued efforts in providing safe, decent, sanitary, and affordable housing to the residents of its sponsoring political subdivision, including the Piedmont Apartments-Baytown located in Baytown, Texas
The issuance of the above-referenced bonds is expected to advance the Corporation’s continued efforts in providing safe, decent, sanitary, and affordable housing to the residents of its sponsoring political subdivision, including the Piedmont Apartments-Baytown located in Baytown, Texas
RECOMMENDATION
To authorize the City of Texas City to approve the issuance of