Country Club Villas Ltd., a Miami Lakes company controlled by developer Lewis V. Swezy, negotiated the rights earlier this year to build the project on property between Northwest 69th and 73rd Avenues and Northwest 179th and 183rd Streets.
The $8.8 million in tax-exempt bonds and $1.53 million in taxable bonds are guaranteed by the Florida Housing Finance Corp.'s Affordable Housing Guarantee Program.
The New York-based bond rating firm, Fitch IBAC, Duff & Phelps, assigned an underlying rating of "A" on the issue. When insured, the issue is expected to carry a rating of "AAA".
This is the housing authority's first multifamily building project this year. Last year, the county agency issued $13.3 million in tax-exempt and taxable bonds to build the 308-unit Sunset Bay apartments and $14.7 million in tax-exempt and taxable bonds to build the 368-unit Marbrisa apartments.
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