San Jose Tax Allocation Refunding

Hawkins attorneys counseled the underwriters in the refunding of San Jose Redevelopment Agency’s $195 million tax allocation refunding bond offering. The financing used a tax allocation set-aside to maximize its impact on the low income housing supply of this expensive metropolitan area. The project's structure permitted the agency to secure a State of California private activity bond volume cap allocation. Bond proceeds were used to fund the construction of 120 housing units for low income families.