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Title:
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PUBLIC HEARING - TEFRA PUBLIC HEARING AND ISSUANCE OF TAX-EXEMPT REVENUE BONDS BY THE CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $20 MILLION FOR SANTA ROSA GARDEN APARTMENTS - 4601 MONTGOMERY DRIVE
BACKGROUND: TTG Santa Rosa Garden Limited Partnership, a California limited partnership (“Borrower”) selected the California Statewide Communities Development Authority (“CSCDA”), a joint-powers authority of which the City is a member, to be the issuer of tax-exempt multifamily housing revenue bonds for Santa Rosa Garden Apartments, 111 existing rental units, located at 4601 Montgomery Drive (“Project”). Borrower is requesting an aggregate principal amount not to exceed $20 million to finance or refinance the acquisition, rehabilitation, improvement, and equipping of the Project; and has requested that the City Council conduct a public hearing in accordance with the Tax Equity and Fiscal Responsibility Act (“TEFRA”), Internal Reven...
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Code sections:
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15061(b)(3) - General Rule Exemption, 15378 - Not a Project
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