The Phoenix City Council approved the issuance of a Multifamily Housing Revenue Construction/Permanent Note, Series 2025, by The Industrial Development Authority of the City of Phoenix (Phoenix IDA). This note, with an aggregate principal amount not to exceed $25,000,000, will finance the Wild Rose Flats Project, an estimated 72-unit qualified residential rental facility. Located at 2911 and 2941 N. 43rd Avenue, the project spans approximately 4.562 acres. A significant portion of the units will be designated for low- to moderate-income tenants. The Phoenix IDA Board had previously resolved to issue the note on May 28, 2025, and this City Council action serves as the final approval required under state law and the Internal Revenue Code.