Title
Resolution to Approve Ten Multifamily Housing Facilities in the City of Greensboro and the Financing of Those Facilities with Multifamily Housing Revenue Bonds in an Aggregate Amount Not to Exceed $38,000,000
Body
Department: Executive
Council District: All
Public Hearing: No
Advertising Date/By: N/A
Contact 1 and Phone: Barbara Harris, Assistant City Manager, 373-2320
Contact 2 and Phone: Tom Carruthers, City Attorney 373-2320
PURPOSE:
To approve ten multifamily housing facilities in the City of Greensboro and the financing of those facilities with multifamily housing revenue bonds in an aggregate amount not to exceed $38,000,000.
BACKGROUND:
The Housing Authority of the City of Greensboro has tentatively agreed to issue its multifamily housing revenue bonds in an amount not to exceed $38,000,000 for the purpose of financing the acquisition, rehabilitation and equipping by Greensboro Portfolio, LLC the following low and moderate income multifamily residential rental facilities in the City:
* Woodberry Run: 39 units in 13 buildings located on a 5.95 acre site at 212 Berryman Street;
* Baylor Court: 11 units in 11 buildings located on a 5 acre site at 3911 Baylor Court;
* Laurel Oaks: 50 units in 11 buildings located on a 9.4 acre site at 12 Laurel Lee Terrace;
* Pear Leaf: 50 units in 12 buildings located on a 6.78 acre site at 2917 West Florida Street;
* Stoneridge: 50 units in 6 buildings located on a 5 acre site at 1900 Peale Terrace;
* Applewood: 50 units in 10 buildings located on 5 acres at 3501 Old Battleground Road;
* River Birch: 50 units in 12 buildings located on 8.5 acres at 312 N. Swing Road;
* Silverbriar: 50 units in 16 buildings located on 7.44 acres at 4807 Silver Briar Court;
* Ray Warren: 236 units in 72 buildings, located on 26 acres at 1306 East Gate City Boulevard;
* Lakespring: 60 units in 16 buildings, located on 9.8 acres at 4 Lakespring Court
A public hearing was held on May 25, 2017 at 3:30pm at 450 North Ch...
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