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File #: 18-0338    Version: 1 Name: Amendment of Council Policy 000-15 - Policy Statement Tax-Exempt Revenue Bond Requests
Type: CC- Report Status: Agenda Ready
File created: 4/17/2018 In control: City Council
On agenda: 5/8/2018 Final action:
Title: REPORT - AMENDMENT OF COUNCIL POLICY 000-15 - POLICY STATEMENT TAX-EXEMPT REVENUE BOND REQUESTS BACKGROUND: At the direction of the California Debt Limit Allocation Committee (“CDLAC”) and the City’s outside bond counsel, Jones Hall, the City must adopt updated bond issuance procedures and post-issuance compliance procedures to be eligible to receive bond allocations for multifamily rental housing and certain other purposes. The policies guide the process of issuing private activity bonds and ensuring post-issuance compliance including a description of the fee structure, application and approval process, and monitoring and compliance practices. RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Council, by resolution, amend Council Policy 000-15 - Policy Statement Tax-Exempt Bond Requests.
Sponsors: Housing and Community Services
Indexes: Exempt Project, Not a Project
Attachments: 1. Staff Report, 2. Attachment 1, 3. Resolution, 4. Exhibit A, 5. Presentation