City officials are seeking more information following a June 27 vote by the Meriden Housing Authority Board of Commissioners to allow the authority to issue up to $129 million in bonds for two construction projects. The housing authority board voted 3-2 to issue bonds on behalf of the Maynard Road Corp. to develop 100 apartment units, a black box theater and commercial space for no more than $75 million. The MHA board also approved by a 3-2 margin a resolution to issue up to $54 million in bonds for the Yale Acres Community Center project. Agency leaders have sought multiple avenues to finance the mixed-use development, including housing and historical tax credits that were not successful. The proposal was also packaged as a federal Opportunity Zone project for investors seeking to divest of capital gains taxes.
https://www.myrecordjournal.com/News/Meriden/Meriden-News/Meriden-Housing-Authority-to-issue-$129-million-in-bonds-for-construction-projects