FINANCIAL_SERVICESAPPROVED

Sacramento Housing and Redevelopment Commission Agenda May 2026

Housing Authority approves $125M bonds for Creek at 2645

Not to exceed $125,000,000county of Sacramento Housing AuthorityIH CREEK 2645 SACRAMENTO LLCMay 15, 2026

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Description

The Housing Authority of the City of Sacramento approved issuing up to $125 million in multifamily housing revenue bonds and lending the proceeds to IH Creek 2645 Sacramento LLC to finance the acquisition and rehabilitation of the Creek at 2645 Apartments. The bonds will support long-term affordable and market-rate housing at the 368‑unit development for up to 45 years.

Contract Details

Contract Amount

Not to exceed $125,000,000

Vendor

IH CREEK 2645 SACRAMENTO LLC

Agency

county of Sacramento Housing Authority, CA

Contract Type

FINANCIAL_SERVICES

Document Date

May 15, 2026

Contract Term

Final maturity not to exceed 45 years from date of issuance

Renewal Info

Bonds may be issued in one or more series or classes, senior and subordinate, on tax-exempt or taxable basis, with a maximum interest rate of 12% and final maturity not to exceed 45 years; ongoing administrative fee to SHRA equal to 0.05% of outstanding bond amount, minimum $15,000 annually.

Issuing Agency