Title:
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PUBLIC HEARING - TAX EQUITY AND FISCAL RESPONSIBILITY ACT OF 1983 (“TEFRA”) PUBLIC HEARING AND ISSUANCE OF BONDS BY THE CALIFORNIA PUBLIC FINANCE AUTHORITY IN AN AMOUNT NOT TO EXCEED $50 MILLION FOR DETURK WINERY VILLAGE - 8 WEST 9TH STREET AND 806 DONAHUE STREET
BACKGROUND: The issuance of tax exempt, private activity bonds must be approved by the jurisdiction the project is located following a public hearing. Donahue 808, L.P. (“Borrower”) has selected the California Public Finance Authority (“CalPFA”), a joint-powers authority of which the City is an additional member, to be the issuer of multifamily housing revenue bonds for DeTurk Winery Village, 135 rental units, located at 8 West 9th Street and 806 Donahue Street (the “Project”), in an amount not to exceed $50 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 to provide a reasonable opportun...
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Code sections:
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15182 - Projects Pursuant to a Specific Plan, 15332 - Infill Development
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