Commerce City - File #: Res 2017-72

• File #: Res 2017-72
• Version: 1
• Name: Private Activity Bond Allocation
• Type: Resolution
• Status: Passed
• File created: 7/12/2017
• In control: City Council
• On agenda: 8/7/2017
• Final action: 8/7/2017
• Title: A RESOLUTION AUTHORIZING ASSIGNMENT TO THE COLORADO HOUSING AND FINANCE AUTHORITY OF A PRIVATE ACTIVITY BOND ALLOCATION OF THE CITY OF COMMERCE CITY PURSUANT TO THE COLORADO PRIVATE ACTIVITY BOND CEILING ALLOCATION ACT

Date	Ver.	Action By	Action	Result
8/7/2017	1	City Council	adopted

Title

A RESOLUTION AUTHORIZING ASSIGNMENT TO THE COLORADO HOUSING AND FINANCE AUTHORITY OF A PRIVATE ACTIVITY BOND ALLOCATION OF THE CITY OF COMMERCE CITY PURSUANT TO THE COLORADO PRIVATE ACTIVITY BOND CEILING ALLOCATION ACT

Body

Summary and Background Information: 

Each year Commerce City receives an allocation from the state-wide private activity bond ceiling.  For 2017, the allocation is $2,668,200. Colorado Housing and Finance Authority  (CHFA) is requesting the allocation to support the Holly Park Apartments family housing project that is being renovated in our community.

Staff supports their request and action must be taken by September 15 in order to complete the assignment. 

Staff Responsible (Department Head):  Sheryl Carstens

Staff Member Presenting:  Sheryl Carstens

Financial Impact:  N/A

Funding Source:  N/A

Staff Recommendation:  Approve Resolution 2017-72