The Health, Educational and Housing Facility Board of the City of Memphis
"The Mission of the Board is to identify, structure and finance solutions to meet the health, educational and affordable housing needs of the greater Memphis area."
The primary work of the Board is to issue tax exempt and taxable bonds financing health, educational and housing facilities. These bonds do not constitute an obligation of the City of Memphis, the County of Shelby, nor any other political subdivision thereof. (They are revenue bonds as opposed to general obligation bonds.) The Board also administers the Affordable Multifamily Housing Payment In Lieu Of Taxes (PILOT) Program. This limited program offers tax relief for low income renters, working with builders and developers of affordable housing.
The Board's regularly scheduled open public meetings are held pursuant to public notice on the first Wednesday of each month commencing at the hour of 12:00 Noon in the conference room of The Health, Educational and Housing Facility Board, 65 Union Avenue, Suite 1120, Memphis, Tennessee 38103.
SELECTION PROCESS: Members are appointed by the Mayor with the approval by City Council.More Health, Educational and Housing Facility Board Information
MEMBERSHIP: 9 Member Board.
FUNCTION & AUTHORITY: The Health, Education and Housing Facility Board a public nonprofit corporation issues tax exempt revenue bonds for the development or rehabilitation of multi-family housing facilities to be occupied, according to the state statute ?by persons of low and/or moderated income, and/or elderly and/or handicapped persons.
TERMS OF MEMBERS: 6 Year Term.