Bond Issuance for Affordable Housing Preservation Corp. and PILOT Agreement – Resolution 22-R-06
The Commission approved a resolution authorizing the Public Finance Authority to issue bonds on behalf of the Affordable Housing Preservation Corporation. The City Treasurer-Clerk was authorized to execute a payment in lieu of taxes (PILOT) agreement of approximately $122,500 per year. Mayor Dailey highlighted the item as an example of supporting affordable housing at no cost to the City. Commissioner Porter was absent for the vote.
How each commissioner voted
5 present
The Motion
“Authorize the issuance of bonds by the Public Finance Authority on behalf of AHPC by adopting Resolution No. 22-R-06 and authorizing the City Treasurer-Clerk to execute a PILOT of approximately $122,500 per year that includes the special conditions outlined in this agenda item.”
Authorize the issuance of bonds by the Public Finance Authority on behalf of the Affordable Housing Preservation Corporation, Inc. (AHPC) by adopting Resolution No. 22-R-06 and authorizing the City Treasurer-Clerk to execute a payment in lieu of taxes (PILOT) of $125,000 per year that includes the special conditions outlined in this agenda item.
📄BoardDocs · Apr 6, 2022 packet · page ↗