The City Council approved the issuance of up to $34,000,000 in Multifamily Housing Revenue Bonds for the Memorial Towers Project. This initiative supports the acquisition, rehabilitation, and development of a 153-unit multifamily residential community for low- to moderate-income senior tenants. The project aligns with the City's goals to expand affordable housing options.
This project increases the availability of affordable senior housing while leveraging public financing mechanisms to address housing needs.