Oxnard--The City Council took action and approved two TERA low-cost affordable housing projects in the City Tuesday, March 21, the Casa Aliento andnVintage at LockwoodnApartments.
OXNARD Housing Director Emilio Ramirez presented the item and said the Casa Aliento Project and the Developer applied to issue $22 million of Tech Exam, multifamily housing revenue bonds with the California Statewide Community Development Authority to finance the construction of the proposed Casa Aliento Apartments.
Casa Aliento is a proposed 70-unit multifamily rental project in the City., the former Vagabond Inn on Oxnard Boulevard.
“There is no obligation arising from the State bond issue the City of Oxnard would have,” he said.
The Council held the public hearing to receive comments and comply with the Tax Equity and Fiscal Responsibility Act.
Ramirez also presented the Public Hearing for the bond to construct Vintage at Lockwood and said the developer is looking to issue $75 million of tax-exempt multi-family revenue bonds by the California Statewide Community Development Authority.
The Vintage at Lockwood is a 341-unit multi-family housing project that complies with the Tax Equity and Fiscal Responsibility Act.
“There is no financial obligation by the City or liability arising from the Bond issue,” he…
