“In one of the earlier votes of the night, the council approved a resolution for the city to issue tax exempt bonds to fund the affordable rental housing project known as Trinity Apartments. The project will be financed with the bonds and the use of 4% low-income housing tax credits. The use of tax credits and tax-exempt bonds will allow developers to borrow less money during construction, passing the savings onto individuals and families in the form of lower rents, according to city documents.
The 200-home project will be located on two sites in Missoula, with 70 homes to be built on the Cooley block that was previously Skyview Trailer Park, and with 130 homes on a Mullan site, said Eran Pehan, director of Community Planning, Development, and Innovation.
The bonds pose no financial implications for city tax payers, and are repaid from the proceeds of the tax credits.”
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Evans, Cameron. KPVI 24 November 2020.