Money will pay off old bonds and provide cash for extensive refurbishment of 148 apartments in Laurel Tree complex
Carlsbad's 148-unit Laurel Tree Apartments, an affordable housing complex built in 1999, has been approved for up to $45 million in tax-free bonds to refinance and rehabilitate the property. The bond money will allow the owners, the nonprofit Metropolitan Area Advisory Committee, to replace flooring, repair drywall, remodel kitchens and make other improvements. The approval also restricts the rentals to low-income tenants for an additional 55 years.
, operates seven affordable housing complexes in San Diego County. The Carlsbad apartments are on Laurel Tree Lane, south of Palomar Airport Road and east of Aviara Parkway. Carlsbad loaned a total of $700,000 in 1994 and 1996 to help build the project, which satisfies state requirements for affordable housing.
paid off the city loans in 2014, which makes the project eligible for refinancing. The refinancing allows to pay off more than $37 million in previous tax-free bonds on the project as well as to secure additional money for the refurbishment. The bonds require the city's approval, but the city is under no responsibility or liability to repay the bonds. Carlsbad has more than a dozen all-affordable rental projects ranging from 12 apartments to as many as 344 apartments. Each complex is privately managed and has its own application process, income restrictions and wait list.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gov. Hochul lays out $45 million plan to fight back against organized retail theftAs retailers continue to suffer from organized theft, Gov. Hochul lays out a $45 million plan to assure merchants that Albany is not tone deaf to ongoing issue.
Weiterlesen »
Teen gravely injured in police chase could get $45 million in proposed settlementChicago aldermen will soon weigh whether to award a $45 million settlement to the family of a teen boy who suffered “catastrophic” injuries in a police chase car crash. The settlement for the teen,…
Weiterlesen »
Historic $45 million Chicago police misconduct settlement moves forwardThe settlement — set to become one of the largest in Chicago’s history if it passes a full City Council vote Wednesday — will help pay for the medical care of Nathen Jones
Weiterlesen »
$45 million settlement recommended for teen left unable to walk after Chicago police pursuitA Chicago City Council committee has approved one of the largest settlements in Chicago history after a teen was left unable to walk or speak following a police…
Weiterlesen »
Amazon Slashed Prices on Flattering Spring Dresses — All Under $45Amazon’s Big Spring Sale 2024 includes deals on spring dresses. We found the 10 best Amazon dresses on sale from Prettygarden, Merokeety, The Drop, and more for less than $45.
Weiterlesen »
This $45 Million Aspen Estate Sprawls Over 17 Rocky Mountain AcresThe 11,500-square-foot residence features custom fittings and finishes from around the world.
Weiterlesen »