File #: 19-0670    Name: Resolution
Type: Agenda Item Status: Approved
In control: McKinney Housing Finance Corporation
On agenda: 8/9/2019 Final action: 8/9/2019
Title: Consider/Discuss/Act on All Maters Incident and Related to the Submission of an Application or Applications for Allocation of Private Activity Bonds to the Texas Bond Review Board and Declaration of Expectation to Reimburse Expenditures with Proceeds of Future Debt for the McKinney Flats Project, Including the Adoption of a Resolution Containing Other Matters Incident and Related Thereto
Attachments: 1. Resolution

Title

Consider/Discuss/Act on All Maters Incident and Related to the Submission of an Application or Applications for Allocation of Private Activity Bonds to the Texas Bond Review Board and Declaration of Expectation to Reimburse Expenditures with Proceeds of Future Debt for the McKinney Flats Project, Including the Adoption of a Resolution   Containing Other Matters Incident and Related Thereto

Summary

 

 

ITEM SUMMARY: 

•                     Application for Financing Multifamily Residential Rental Development

•                     The development will consist of 326 units, of which 100% of the units will serve households with incomes that average 60% of the area median income

•                     8-1br/1b, 108-2br/2b, 100-3br/2b, 20-4br/2b

•                     Total cost of Project is $43,585,527. The maximum principal amount of financing applied for is expected to be $32,000,000