24-1214
Public Hearing regarding issuance of Tax-Exempt bonds for Citrus Grove Apartments and consideration of Resolution No. 8191 approving the issuance of bonds. RECOMMENDATION: Staff requests that City Council: 1. Conduct a Tax Equity and Fiscal Responsibility Act Hearing in consideration of the issuance of tax-exempt bond financing by the California Statewide Communities Development Authority for the benefit of National Community Renaissance of California (or an affiliate thereof), to provide financing for the acquisition, rehabilitation, improvement, and equipping of a 152-unit multi-family rental housing project generally known as Citrus Grove Apartments; and 2. Adopt a resolution approving the issuance of Bonds by the California Statewide Communities Development Authority not to exceed $70,000,000, for the benefit of National Community Renaissance of California (or an affiliate thereof), to provide financing for the acquisition, rehabilitation, improvement, and equipping of a 152-unit multi-family rental housing project generally known as Citrus Grove Apartments. (ACTION)
- Committee
- City Council
- Introduced
- March 4, 2024
- On agenda
- March 12, 2024
Where it was heard
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