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File #: 22-0311    Version: 1 Name: TEFRA Public Hearing
Type: CC- Public Hearing Status: Agenda Ready
File created: 4/5/2022 In control: City Council
On agenda: 4/26/2022 Final action:
Title: PUBLIC HEARING - TEFRA PUBLIC HEARING AND ISSUANCE OF BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY IN AN AGGREGATE AMOUNT NOT TO EXCEED $40 MILLION FOR AVIARA APARTMENTS, AN AFFORDABLE RENTAL HOUSING PROJECT LOCATED AT 1385 WEST COLLEGE AVENUE BACKGROUND: The issuance of tax exempt, private activity bonds must be approved by the jurisdiction the project is located in following a public hearing. MM Aviara, L.P., a California limited partnership (“Borrower”) has selected the California Municipal Finance Authority (“CMFA”), a joint-powers authority of which the City is an additional member, to be the issuer of revenue bonds for Aviara Apartments, a 136-unit multifamily affordable rental housing project, located at 1385 West College Avenue (the “Project”), in an aggregate amount not to exceed $40 million, and has requested that the City Council conduct a public hearing in accordance with the Tax Equity and Fiscal Responsibility Act of 1983 (“TEFRA”). A public hearing is required ...
Sponsors: Housing and Community Services
Indexes: Exempt Project
Code sections: 15378 - Not a Project
Attachments: 1. Staff Report, 2. Attachment 1 - Locational Graphic, 3. Attachment 2 - Request for TEFRA Public Hearing Aviara, 4. Resolution, 5. Presentation
Related files: 21-388ZA, 21-131DRB, 22-0204