We served as bond counsel in connection with the $35 million issuance of multifamily housing revenue bonds by the Health, Educational and Housing Facility Board of the City of Chattanooga, Tennessee. The financing supports Phase 1B of the One Westside redevelopment, a major initiative to revitalize the city’s Westside neighborhood by replacing aging public housing with modern, mixed-income communities. Phase 1B will deliver 166 new units as part of a larger project utilizing a twinning financing structure that combined a tax-exempt bond and 4% Low-Income Housing Tax Credit transaction with a 9% Low-Income Housing Tax Credit transaction.
Bond Financing for 166-Unit Mixed-Income Redevelopment
Bond Financing for 166-Unit Mixed-Income Redevelopment
We served as bond counsel in connection with the $35 million issuance of multifamily housing revenue bonds by the Health, Educational and Housing Facility Board of the City of Chattanooga, Tennessee. The financing supports Phase 1B of the One Westside redevelopment, a major initiative to revitalize the city’s Westside neighborhood by replacing aging public housing with modern, mixed-income communities. Phase 1B will deliver 166 new units as part of a larger project utilizing a twinning financing structure that combined a tax-exempt bond and 4% Low-Income Housing Tax Credit transaction with a 9% Low-Income Housing Tax Credit transaction.