Affordable Housing Bond Issue

On November 8, 1991, the HHA purchased several buildings with conventional financing. Within nine months, the Authority issued bonds and replaced the conventional mortgage with Tax Exempt Bonds and purchased additional buildings with the bond proceeds. The Bonds were issued for the amount of $17,300.00. These buildings comprise the HHA's Affordable Housing Program.

The Affordable Housing Program has a total of 545 units. The buildings are at different locations in the City of Hialeah area and they include 1 and 2 bedroom units. The rent of a one bedroom is currently $490.00 and a two bedroom unit is $638.00.

Affordable Housing Buildings are located at:

The Affordable Housing Program generates rents totaling 2.8 million dollars annually.