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Graphic text: The City joins with Joint Powers Authority to issue tax exempt bonds and utilizes government tax exemption to purchase property and convert to long-term affordability OR acquire land and build new affordable housing. The city then decides what to do with the asset when the purchase option can be exercised to either 1. reposition to market rate and sell, 2. continue to maintain and/or deepen affordability, or 3. transfer to/partner with third party affordable housing company.

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