The Health Education Housing Facilities Board of the City of Chattanooga held its second meeting of May 2026 on May 18. The board approved two major resolutions: a bond issuance of up to $62 million for a school (Chattanooga Christian School) and a payment-in-lieu-of-taxes (PILOT) agreement for the Overlook Apartments affordable housing project. The board also recognized the departure of city housing staff member Hanukkah.
In May. Actually, it's not the monthly meeting, the second meeting this month of the um Health Education Housing Facilities Board of the City of Chattanooga. So the first piece we'll do is the minutes of the April twentieth meeting, which I think we reviewed informally at the last meeting. Questions, additions, corrections. Motion carries. Not to exceed 62 million, and they were before us at the last meeting. And is there anything you all want to add? Or is any questions that we have that the board has for them on this? Good question. Can we get a reminder of what the term is on this? I'm happy to be great. Yes. Well, Russ Miller was after we are fund council to 10% on the 10th fine bonds. I said the first one. And John Lynch is a financial visor for bank. So as um uh uh Ms. Robert said, um, this the max 61-ish million dollars. It's really sort of two separate issues. One is to be financed their existing 2017 bond, which is through this reward. Um that's around 18 million dollars. Um that would be uh I would sure around 2022, I think. And it has sort of the same information that it has existing bonds for pushing out. Um with a new bond. Um deal um the 2020 board. You all heard about those last community norm and some uh five improvements um and energy uh fund improvements on the campus. So that bond will be a 30-year bond. Um they expect uh the initial issuance will be um 47 or so million. Uh they expect to pay down a lot of that in the next five years when pledges they come in. And so I think uh the final three would be third years, but they're really only um like 30 million of that over the remaining period. Um probably hopefully some pledges uh they're gonna pay down both of it. So it's very interesting through. So the refinancing it says will uh mature in 16 years, and the uh the bulk of beyond that is 30 years, right? Yes, yeah, and pinnacle is agreeable with funds for that period. All right, I want to let's back up and get a motion for discussion. So before she throws apples at me. So move to interdiscond. Second, second. Okay, we have motion second. Okay. Any other questions? Anybody up here has for them? Good to vote then. I don't want to cut off anything, but they did make a presentation last time. Yeah, yeah. I've done this before here in that. I'm just glad to know somebody around here as a school can float a 62 million dollar bond. I'm impressed. Having been there, I couldn't do that. Okay. Uh seeing no further questions, all in favor of the resolution, please say aye.