The City of Wheat Ridge has received an allocation of $2,080,116 for the purpose of issuing Private Activity Bonds (PABs) in 2025 under the state ceiling imposed by the Tax Reform Act of 1986. Staff recommends assigning the City’s allocation to Foothills Regional Housing (FRH) which has agreed to issue PABs for the Ridge affordable housing mixed-use project at approximately Ridge Road and Miller Street.