City Council

7. ISSUANCE OF TAX-EXEMPT BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY FOR THE\nBENEFIT OF MISSION NEIGHBORHOOD CENTERS, INC. FOR THE LA COSTA FAMILY APARTMENTS – 1)\nHold a public hearing under the requirements of the Tax and Equity Fiscal Responsibility Act and the\nInternal Revenue Code of 1986; and\n2) Adoption of a resolution approving the issuance of the California Municipal Finance Authority\nMultifamily Housing Revenue Bonds for the benefit of Mission Neighborhood Centers Inc. on behalf\nof Mirka La Costa LP or by another affiliate in an aggregate principal amount not to exceed $10 million\nfor the purpose of financing or refinancing the acquisition, rehabilitation, improvement and equipping\nof the La Costa Family Affordable Apartments, a multifamily 100% affordable rental housing project\nlocated in Carlsbad, California. (Staff contact: Erin Peak, Community Services)\nCity Manager’s Recommendation: Take public input, close the public hearing and adopt the\nresolution.\nNov. 12, 2024 Page 3