...Title
Approval of Exception to the City Council Multifamily Housing Revenue Bond Policy and Authorizing the Finance Department to Hold Tax Equity and Fiscal Responsibility Act of 1986 Public Hearings.
...Recommendations
Adopt a resolution:
(a) Authorizing exceptions to the City Council’s Multifamily Housing Revenue Bond Policy, City Council Policy 1-16, for the issuance of Multifamily Housing Revenue Bonds due to special circumstances, thereby allowing the California Municipal Finance Authority to issue the bonds for the following developments:
(1) Paseo Senter I, located at 1898 Senter Road;
(2) Moreland Apartments, located at 4375 Payne Avenue; and
(3) Eden Palms Apartments, located at 5398 Monterey Road.
(b) Authorizing the Director of Finance to hold the Tax Equity and Fiscal Responsibility Act public hearings for Paseo Senter I, Moreland Apartments, and Eden Palms Apartments upon the receipt of California Debt Limit Allocation Committee debt allocations and the California Municipal Finance Agency’s recycled bond allocations.
CEQA: Categorically Exempt, File No. ER24-246 (Exemption for Housing Rehabilitation Projects), CEQA Guidelines Section 15301, Existing Facilities. Council Districts 1, 2, and 7. (Housing/Finance)