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AI# 10676
Regular City Council Meeting
7.11.
04/26/2022:
Information
Agenda Item
Resolution - Finance:
Consider a resolution authorizing the Mayor to execute a Certificate of Approval for Issuance of Tax-Exempt Multifamily Housing Revenue Bonds for the Lubbock Housing Finance Corporation, and all related documents.
Item Summary
Lubbock Housing Finance Corporation has proposed to issue one or more series of tax-exempt multifamily housing revenue bonds in an aggregate amount of not more than $30,000,000. Lubbock Housing Finance Corporation will issue bonds for the benefit of LIH South Plains Preservation, LP, or an affiliate, in connection with the acquisition, rehabilitation, and equipping of approximately 144 multifamily rental housing units located at 5520 58th Street, Lubbock, Texas, 79414, known as South Plains Apartments, and approximately 100 multifamily rental housing units located 5401 56th Street, Lubbock, Texas, 79414, known as Homestead Apartments, all of such units located in the City of Lubbock, Texas. The Borrower will own the Development.
Fiscal Impact
No fiscal impact is anticipated.
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer
Attachments
Resolution
HFC Backup
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