Kutak Rock Serves as Bond Counsel for Atrium at Austin Bluffs Apartments ProjectNews | August 5, 2020
Kutak Rock served as bond counsel in connection with the issuance by the City of Colorado Springs, Colorado of its Multifamily Housing Revenue Bonds (Atrium at Austin Bluffs Apartments Project), Series 2020A in the amount not to exceed $2,500,000 and its Multifamily Housing Revenue Bonds (Atrium at Austin Bluffs Apartments Project), Series 2020B in the amount not to exceed $5,500,000. The Bonds financed a portion of the cost of the construction, rehabilitation, improvement and equipping of a senior affordable multifamily housing project, consisting of approximately 54 units all of which will be occupied or available for occupancy by low income tenants earning 60% or less of median gross income for the area with adjustments for family size.
The Atrium at Austin Bluffs Apartments Project is located at 4291 Templeton Gap Road, Colorado Springs, Colorado. The issuance of the tax-exempt bonds will allow the owner to maintain rents at an affordable level without additional subsidies.