Prince George's County Council - Reference No. CR-047-2024

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Details

Reference No.

CR-047-2024 Draft No. 1

Type:

Resolution

Status:

Adopted

Meeting Body

County Council

Meeting Date

7/16/2024

Introduced Date

5/28/2024

Public Hearing Date

Effective date:

7/16/2024

Title:

A RESOLUTION CONCERNING THE CASSIDY APARTMENTS BOND INDUCEMENT for the purpose of approving the issuance and sale of revenue bonds by the Housing Authority of Prince George’s County (the “Housing Authority”), the awarding of Low-Income Housing Tax Credits by the Community Development Administration (“CDA”) of the State of Maryland to KCG SSP Capital Heights, LP (the “Owner”), for the acquisition and development of the Cassidy Apartments and paying certain other costs associated therewith (collectively, the “Project”).

Proposers/Sponsors:

County Executive, Jolene Ivey, Calvin S. Hawkins, Sydney J. Harrison, Wanika Fisher, Ingrid S. Watson, Wala Blegay

Attachments:

1. CR-047-2024 - signed, 2. R2024047, 3. CR-047-2024 Attachment A, 4. CR-047-2024 Summary, 5. CR-047-2024 Transmittal, 6. CR-047-2024 Report

Contact:

Karanja Slaughter, Chief Real Estate Officer, Housing Authority of Prince George’s County

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
7/16/2024	1	County Council	adopted	Pass	Action details	Meeting details	Video
6/27/2024	1	Government Operations and Fiscal Policy Committee	Favorably recommended	Pass	Action details	Meeting details	Video
5/28/2024	1	County Council	introduced and referred		Action details	Meeting details	Video

Title

A RESOLUTION CONCERNING THE CASSIDY APARTMENTS BOND INDUCEMENT for the purpose of approving the issuance and sale of revenue bonds by the Housing Authority of Prince George’s County (the “Housing Authority”), the awarding of Low-Income Housing Tax Credits by the Community Development Administration (“CDA”) of the State of Maryland to KCG SSP Capital Heights, LP (the “Owner”), for the acquisition and development of the Cassidy Apartments and paying certain other costs associated therewith (collectively, the “Project”).

Background

The Housing Authority of Prince George’s County seeks Council approval of the issuance and sale of revenue bonds by the Housing Authority of Prince George’s County (the “Housing Authority”), the awarding of Low-Income Housing Tax Credits by the Community Development Administration (“CDA”) of the State of Maryland to KCG SSP Capital Heights, LP (the “Owner”), for the acquisition and rehabilitation of The Cassidy Apartments and to pay certain other costs associated therewith (collectively, the “Project”).

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