Arizona » Phoenix » Massive $400M Bond Issuance to Boost Affordable Housing in Maricopa County
Massive $400M Bond Issuance to Boost Affordable Housing in Maricopa County
The City Council has approved the issuance and sale of up to $400 million in Series 2024 Single Family Mortgage Revenue Bonds. These bonds, issued jointly by the Phoenix IDA and Maricopa IDA, will finance mortgage loans and provide homebuyer assistance for single-family homes. The program specifically targets homes to be owned and occupied by low and moderate-income residents in Maricopa County, including the City of Phoenix. The initiative includes issuing multiple series of bonds and adhering to comprehensive standards and requirements to ensure the funds effectively support affordable housing.