Craycroft Towers and Lee Street Duplexes Bond Financing
At a glance
What: Resolution 24206 approves the Industrial Development Authority of the City of Tucson issuing multifamily housing revenue bonds (not to exceed $10 million) for the Craycroft Towers and Lee Street Duplexes project, part of the shift of former public housing to the housing choice voucher program.
Where it stands: pulled from the consent agenda for comment and approved 6-0 on November 4. The financing relies mainly on low-income housing tax credits, with county gap funding of $500,000, and is meant to rehabilitate and preserve 82 units for older adults.