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Author: howardgt One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35357  
Subject: Re: Muni bond question (related to investigation Date: 4/14/2011 10:23 PM
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So, does one of you muni nuance experts have a clue whether the "commercial rent" long tax exempt exclusion allows for residential rentals?

Hi Luki,

I have no clue about this subject, but this quote from Leucadia’s latest annual letter may (or may not) help you shed some light on this question (they do lump “multifamily housing” with “commercial buildings” together for commercial mortgages):

http://www.leucadia.com/c-p_letters/luk_c-p2010.pdf

from page 5 – re: Berkcadia Commercial Mortgage

“What is a commercial mortgage? A commercial mortgage is a loan having as collateral a
commercial building or multifamily housing (for our purposes, multifamily housing is de?ned
as having ?ve or more units). There are some who explain otherwise, but most think the above.”


Maybe this has nothing to do with your situation, but I just thought I would throw it out for you to check.

Howard
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