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Hilarita owner asks Tiburon for help securing renovation cash

The owner of The Hilarita apartments is asking the town of Tiburon to help it become eligible to borrow up to $50 million to finance a long-planned renovation of the affordable-housing complex. At the request of EAH Housing, the Town Council at its Feb. 5 meeting is expected to vote on whether to join the California Municipal Financing Authority and whether, as a new member of the authority, to approve the issuance of the bonds. The move from Tiburon would give Marin nonprofit EAH Housing access to tax-exempt bonds to pay for upgrades to the 102-unit complex.

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