LA County Board

4. Resolutions to Issue Supplemental Multifamily Housing Mortgage Revenue\nNotes to Finance the Development of the West Carson Villas Project\nRecommendation as submitted by Supervisor Mitchell: Adopt and instruct the\nChair to sign resolutions declaring the Los Angeles County Development\nAuthority’s (LACDA’s) reasonable official intent to reimburse prior expenditures\nof the West Carson Villas Project (Project) with proceeds of a subsequent\nborrowing, approving the plan of financing for the Project and the Notes in\nconnection with Section 147(f) of the Internal Revenue Code of 1986, and\napproving the issuance of supplemental tax-exempt multifamily housing\nmortgage revenue Notes by LACDA, in an aggregate principal amount not to\nexceed $700,000, to assist PV West Carson, LP, or a LACDA-approved\ndesignee, to finance the site acquisition, construction, rehabilitation, or\ndevelopment of West Carson Villas, a 111-unit multifamily rental housing\ndevelopment located at 22801-22905 South Vermont Avenue in unincorporated\nWest Carson; and find that approval of these actions is not subject to the\nCalifornia Environmental Quality Act. (Relates to Agenda No. 1-D) (24-5612)