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File #: 16-0954    Version: 1 Name: TEFRA Public Hearing - Crossing on Aston
Type: CC- Public Hearing Status: Agenda Ready
File created: 6/28/2016 In control: City Council
On agenda: 7/19/2016 Final action:
Title: PUBLIC HEARING - TEFRA - CROSSINGS ON ASTON, LOCATED AT 706-708 ASTON AVENUE BACKGROUND: Crossings on Aston is an approved development that will provide 26 low-income duplex units, one management unit and one unit to be used as a community room within 14 two-story duplex buildings on an approximate 1.86 acre site. The development will include 24 3-bedroom units and three 1-bedroom units targeted to families earning between 30% and 60% of area median income. The financing for the approximately $13 million project includes Housing Authority loan funds, tax credit financing, a deferred developer fee and loan proceeds from tax-exempt bonds. The issuance of tax-exempt bonds must be approved by the Council following a public hearing for which a public notice is published at least 14 days in advance. All financial obligations of the bond issuance are the responsibility of the borrower. RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Council, ...
Indexes: Mitigated Negative Declaration
Attachments: 1. Staff Report, 2. Attachment 1, 3. Attachment 2, 4. Resolution, 5. Presentation