The Past Predicts the Future

Below is a sample of how the Corporation for Better Housing finances their portion of the "Investment" in building their projects. Note it involves selling of bonds... .. where is the Financial Funding Plan for the Grand Terrace, Blue Mt. Senior Villas?



http://www.sanjoseca.gov/cty_clk/6_26_01docs/6_26_01a.htm
4.9 Approval of various actions for the San José Lutheran Senior Apartments Development.
Recommendation: Adoption of a resolution authorizing the issuance of a single series of tax-exempt multifamily housing revenue bonds in a not-to-exceed principal amount of $5,000,000, and approving a loan of the proceeds to a limited partnership created by Corporation for Better Housing for financing the construction of the San José Lutheran Senior Apartments Development including:
(a) Approving, in substantially final form, the Bonds, Trust Indenture, Financing Agreement, Regulatory Agreement and Declaration of Restrictive Covenants, Multifamily Note, Mortgage, Assignment of Mortgage Loan, and Bond Purchase Contract.
(b) Authorizing the Director of Finance and the Acting Director of Housing to execute and, as appropriate, to negotiate, execute and deliver these documents and other related documents as necessary.
(c) Approval to allow the proceeds of the Bonds to be invested in one or more investment agreements with an institution(s) whose participation in the financing will not adversely affect the expected ratings on the Bonds, as approved by the Director of Finance.Council