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24-0594
| 0 | | City-Wide Affordable Housing Bond Issuance | Ordinance | City-Wide Affordable Housing Bond Issuance
For the purpose of authorizing the issuance of special obligation bonds and the pledge, subject to appropriation, of Tax Increment Revenues (as such term is defined herein) to the payment of debt service thereon; providing that such bonds may be issued from time to time and in one or more issues or series in an aggregate principal amount not exceeding $65,000,000 (to support, subject to additional Mayor and City Council approval, a borrowing program in the aggregate principal amount of $150,000,000) for the purpose of financing costs associated with the rehabilitation of vacant units and the development of affordable housing, certain public infrastructure improvements, and other related costs, including, without limitation, the Project (defined herein), and other necessary improvements to, from, or within the development district, and certain other improvements permitted by the Tax Increment Act (defined herein); providing for the method and sources of payment for such special obligation bonds; authorizing the Board of Finance to specify, | Recommended Favorably with Amendment | Pass |
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24-0595
| 0 | | City-Wide Affordable Housing Development District | Ordinance | City-Wide Affordable Housing Development District
For the purpose of designating a “development district” to be known as the “City-Wide Affordable Housing Development District”; providing for and determining various matters in connection with the establishment of the development district; creating a special, tax increment fund for the development district; to provide for the financing of costs associated with the rehabilitation of vacant units and the development of affordable housing; allocating certain property taxes to that fund; making certain findings and determinations; providing for a special effective date; and generally providing for matters relating to the designation and operation of the development district, the establishment and use of the special, tax increment fund to provide for the payment by or reimbursement to the City for debt service which the City is obligated to pay or has paid (whether such obligation is general or limited) on any special obligation bonds or notes issued by the City, the replenishment of any reserve fund established for any bonds, and the pay | Recommended Favorably with Amendment | Pass |
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