Title
A resolution approving the issuance of tax-exempt obligations by the Mesquite Housing Finance Corporation (MHFC) to finance the acquisition and construction of Palladium Carver Living by Palladium Bruton Road, LTD.
Body
On October 17, 2022, the Mesquite Housing Finance Corporation (MHFC) declared its intent to issue revenue bonds to finance the acquisition and construction of a multifamily residential rental development designated as Palladium Carver Living located within the City at or about 2200 West Bruton Road, Mesquite, TX 75149.
On June 3, 2024, the Mesquite Housing Finance Corporation conducted a public hearing with respect to the project and obligations to be issued by the MHFC in one or more tax-exempt series in an aggregate principal amount not to exceed $37,000,000.00 to finance a portion of the costs of acquisition and construction of the project.
This resolution satisfies the requirements of Section 147(f) of the Internal Revenue Service Code of 1986, as amended, where it is necessary for the City Council to approve the Bonds and Project after the public hearing by the MHFC has been held.
Recommended/Desired Action
Staff recommends approval of the resolution.
Attachment(s)
Resolution
Drafter
Cindy L. Smith
Head of Department
Cindy L. Smith