The Phoenix City Council approved the issuance of Multifamily Housing Revenue Bonds and a Multifamily Housing Revenue Note, totaling up to $60,000,000, by The Industrial Development Authority of the City of Phoenix, Arizona (Phoenix IDA). These obligations will finance a portion of the costs for the Broadway Farms at Hurley Station, Phase I Project. The project involves the acquisition, construction, development, improvement, equipping, and operation of a qualified residential rental facility. This facility is expected to comprise approximately 190 units, with a portion designated for low- to moderate-income tenants. The site spans approximately 8.20 net acres and is located at or near 4141 S. 91st Avenue, Tolleson, AZ, which was recently annexed into the City of Phoenix. The Phoenix IDA Board previously resolved to issue these bonds on May 28, 2025, and a public hearing was held on May 30, 2025.