Chesapeake Redevelopment and Housing Authority Minutes November 2025
Landmark Apartments Renovation Approved with Fairstead and Bond Issue
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Description
The Chesapeake Redevelopment and Housing Authority Board approved a development agreement with Fairstead for the acquisition and renovation of Landmark Apartments, supported by tax-exempt bonds totaling up to $16,002,290. The purchase price is $8 million with closing scheduled by November 18, 2025.
Contract Details
Contract Amount
Purchase price of $8 million; bonds up to $16,002,290 (taxable amount $8,800,000)
Vendor
FAIRSTEAD
Agency
Chesapeake Redevelopment & Housing Authority, VA
Contract Type
CONSTRUCTION
Document Date
November 5, 2025
Renewal Date
2025-11-18
Renewal Info
No financial contribution from Authority projected; bond issuance fees to Authority. Scheduled project closing by November 18, 2025. No information on renewals or extensions.
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chesapeake-redevelopment-housing-authority-minutes-contracts-bond-approvals-mar-26-2025_9c2.pdf
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