Resolution 24-R-01 – Bond Issuance by Capital Trust Authority for AHPC with PILOT Agreement
The Commission unanimously adopted Resolution 24-R-01 authorizing the Capital Trust Authority to issue bonds on behalf of the Affordable Housing Preservation Corporation. The City Treasurer-Clerk is authorized to amend the existing PILOT agreement (~$128,000/year) with conditions requiring community services, affordable housing certification below AMI, and tenant matching with local agencies.
How each commissioner voted
5 present
The Motion
“Authorize the issuance of bonds by the Capital Trust Authority on behalf AHPC by adopting Resolution 24-R-01 and authorizing the City Treasurer-Clerk to execute an amendment to the existing PILOT agreement that includes special conditions regarding community services, affordable housing certification, and tenant matching.”
Item 12.04 – Approval of Resolution 24-R-01 authorization of issuance of bonds by the Capital Trust Authority on behalf of Affordable Housing Preservation Corporation, Inc. (AHPC) and authorizing the City Treasurer-Clerk to execute a payment in lieu of taxes (PILOT) agreement of approximately $128,000 per year.
📄BoardDocs · Feb 21, 2024 packet · page ↗