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South Florida

Miami blight-fighting agency to issue $60M bond

The board of the Southeast Overtown Park West Community Redevelopment Agency is finally moving forward with a long-delayed $60 million bond issue.

The semi-autonomous agency, whose mission is to fight blight, will consider issuing the financial obligations as early as Wednesday, according to the Daily Business Review.

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The agency has been attempting to move forward with the 15-year notes for over a year.

The cash raised by the bonds is will benefit five projects, which together could create at least 383 affordable housing units. The projects include: Lyric Place on Northwest Second Avenue and Ninth Street; St. John Overtown Plaza on Northwest Third Avenue and 13th Street; Island Living at 1201 NW Third Avenue and Courtside Family Apartments on Northwest Third Avenue between 14th and 16th streets. [Daily Business Review] – Christopher Cameron

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FinancingHousing Market