title
Presentation, discussion, and possible action regarding the Issuance of a Multifamily Housing Governmental Note (Waters at Waterchase) Series 2026 Resolution No. 26-007, and a Determination Notice of Housing Tax Credits
end
RECOMMENDED ACTION
recommendation
WHEREAS, the Board adopted an inducement resolution for Waters at Waterchase at the Board meeting of October 10, 2024, as amended by a resolution adopted on April 10, 2025;
WHEREAS, an application for Waters at Waterchase requesting 4% Housing Tax Credits (HTC), sponsored by AHF Waters at Waterchase, LLC and the Atlantic Housing Foundation, Inc., was submitted to the Department on March 10, 2026;
WHEREAS, a Certificate of Reservation was issued in the amount of $20,000,000 on May 26, 2026, with a bond delivery deadline of November 22, 2026; and
WHEREAS, staff recommends approval of the issuance of a Multifamily Housing Governmental Note for Waters at Waterchase (Series 2026), and the issuance of a Determination Notice;
NOW, therefore, it is hereby
RESOLVED, that the issuance of tax-exempt Multifamily Housing Governmental Note (Waters at Waterchase) Series 2026 in the amount of $18,000,000, Resolution No. 26-007, is hereby approved in the form presented to this meeting;
FURTHER RESOLVED, the issuance of a Determination Notice of $1,250,668 in 4% Housing Tax Credits for Waters at Waterchase, subject to underwriting conditions that may be applicable as found in the Real Estate Analysis report posted to the Department's website, and subject to program conditions as reflected herein, is hereby approved in the form presented to this meeting; and
FURTHER RESOLVED, that if approved, staff is authorized, empowered, and directed, for and on behalf of the Department to execute such documents, instruments and writings and perform such acts and deeds as may be necessary to effectuate the foregoing.
end
BACKGROUND
General Information: The Multifamily Housing Revenue Note will be issued in accordance ...
Click here for full text