housing-authority-of-the-city-of-lafayetteresolution2024-11-13_f3a.pdf
$19.5M Housing Bonds Approved, Sold to Cedar Rapids Bank and Trust
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Description
The Louisiana Housing Corporation approved the sale of up to $19.5 million Multifamily Housing Revenue Bonds for the 263 Third Project in Baton Rouge, with Cedar Rapids Bank and Trust Company as the purchaser. The bonds will finance the acquisition, construction, and equipping of a 67-unit affordable housing development and mature within 40 years.
Contract Details
Contract Amount
Not exceeding $19,500,000
Vendor
CEDAR RAPIDS BANK AND TRUST COMPANY
Agency
Housing Authority of the city of Lafayette, LA
Contract Type
FINANCIAL_SERVICES
Document Date
November 13, 2024
Contract Term
Maturity not exceeding 40 years from date of issuance
Renewal Date
2064-11-13
Renewal Info
Bonds mature not later than 40 years from issuance; changes in purchaser permitted by developer and subject to board approval; extension options possible within statutory authority.
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PENDINGIssuing Agency
Housing Authority of the city of Lafayette
Local Housing Authority
Lafayette, LA
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