City of Harrisonburg - File #: RES 25-028

• File #: RES 25-028
• Version: 1
• Name: Revitalization Resolution for BJ Searles
• Type: Resolution
• Status: Passed
• File created: 1/7/2025
• In control: City Council
• On agenda: 1/14/2025
• Final action: 1/14/2025
• Title: Consider adopting resolutions approving issuance by Harrisonburg Redevelopment and Housing Authority of Revenue Bonds for the acquisition, construction, and equipping of an approximately 80-unit multifamily residential rental housing project and an approximately 84-unit age-restricted senior living housing facility (the "Projects") in the City of Harrisonburg, Virginia, on behalf of the Beverly J. Searles Foundation and its Affiliates.
• Related files: RES 23-016, RES 24-002

Date	Ver.	Action By	Action	Result
1/14/2025	1	City Council	adopted	Pass

Subject:

Title

Consider adopting resolutions approving issuance by Harrisonburg Redevelopment and Housing Authority of Revenue Bonds for the acquisition, construction, and equipping of an approximately 80-unit multifamily residential rental housing project and an approximately 84-unit age-restricted senior living housing facility (the “Projects”) in the City of Harrisonburg, Virginia, on behalf of the Beverly J. Searles Foundation and its Affiliates.

Body

Presented By:  Chris Brown, City Attorney

Recommendation and Review

HRHA is requesting that Council pass the above referenced resolutions approving two bond issuances.  Council approval of HRHA’s issuance of the bonds is required by state law.  There is no liability incurred by the City as a result of this approval and the issuances of the bonds by HRHA.  Council approved identical resolutions for these projects on November 28, 2023, but the projects were delayed.  These resolutions expire after one year, so HRHA is asking for updated resolutions.