City of Newport Board of Commissioners Meeting Agenda May 2026
City to Issue Revenue Bonds for Christopher Apartments Project
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Description
Newport plans to issue up to $100 million in taxable industrial building revenue bonds to finance facility improvements that will be leased to The Christopher Apartments, LLC. The authorization includes a lease agreement, bond purchase agreement, and related financing documents tied to a PILOT agreement.
Contract Details
Contract Amount
Not to exceed $100,000,000.00 (bond principal)
Vendor
CHRISTOPHER APARTMENTS LLC
Agency
City of Newport, KY
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Renewal Info
Bond and lease terms, including any extension or refinancing options, will be defined in the lease agreement, bond documents, and related financing agreements; issuance is conditioned on PILOT agreement compliance.
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