The City Council approved a resolution authorizing the Phoenix Industrial Development Authority (IDA) to issue up to $75,000,000 in multifamily housing revenue bonds. These bonds will finance the acquisition, construction, and equipping of Helen Drake Village 2025, a 280-unit affordable multifamily rental housing facility located at 2210 N. 24th Street in Phoenix, AZ. The project aims to provide affordable housing to individuals and families earning up to 60% of the Area Median Income (AMI). This is not a rezoning case. The bonds are non-recourse to the City of Phoenix.