title
To approve the issuance by the Richmond Redevelopment and Housing Authority of its multifamily housing revenue bonds in an amount up to $46,000,000.00 for the acquisition, construction, and equipping of the approximately 128-unit Walmsley Senior Apartments and the approximately 216-unit Walmsley Gardens Apartments multifamily housing facilities located at 4824 Walmsley Boulevard, 4838 Walmsley Boulevard, 4850 Walmsley Boulevard, 4870 Walmsley Boulevard, and 4890 Walmsley Boulevard in the city of Richmond. (9th District)
body
WHEREAS, the Richmond Redevelopment and Housing Authority (the "Authority") is authorized to advertise and hold public hearings relative to the issuance of private activity bonds; and;
WHEREAS, the Authority has considered the applications of (i) Walmsley Senior, LLC (the "Walmsley Senior Borrower") requesting that the Authority issue its revenue bonds (the "Walmsley Senior Bonds") in a maximum stated principal amount of $15,000,000 to finance or refinance a portion of (a) the costs of acquiring, constructing and equipping a multifamily residential rental housing project for seniors consisting of one building containing approximately 128 units (the "Walmsley Senior Project"), (b) the funding of reserve funds as permitted by applicable law and (c) the costs incurred in connection with the issuance of the Walmsley Senior Bonds (collectively, the "Walmsley Senior Plan of Finance"), and (ii) Walmsley Gardens, LLC (the "Walmsley Family Borrower," and, together with the Walmsley Senior Borrower, the "Borrowers") requesting that the Authority issue its revenue bonds in a maximum stated principal amount of $31,000,000 (the "Walmsley Family Bonds," and, together with the Walmsley Senior Bonds, the "Bonds") to finance or refinance a portion of (a) the costs of acquiring, constructing and equipping a multifamily residential rental housing project for families consisting of nine buildings containing approximately 216 units (the "Wa...
Click here for full text