The Real Deal Miami

Miami blight-fighting agency to issue $60M bond

The proceeds will benefit five affordable housing projects
July 28, 2014 03:45PM

images-3The 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.

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