City Council

(1) 24­1034 CD 6 MOTION (SOTO­MARTINEZ for PADILLA ­ HERNANDEZ) and RESOLUTION relative to the issuance of revenue bonds in an aggregate principal amount not to exceed $20,000,000 for the acquisition, rehabilitation, and development of an 89­unit multifamily affordable housing project known as the Panorama View Apartments (Project) located at 9222 Van Nuys Boulevard in Council District (CD) 6. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. HOLD a Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) Hearing at the City Council Meeting to be held on Tuesday, September 10, 2024. 2. ADOPT the TEFRA RESOLUTION, attached to the Motion, to allow the California Statewide Communities Development Authority to issue bonds in an amount not to exceed $20,000,000 to provide financing for the acquisition, rehabilitation, and development of the 89­unit multifamily housing Project located at 9222 Van Nuys Boulevard in CD 6. 2. ADOPT the TEFRA RESOLUTION, attached to the Motion, to allow the California Statewide Communities Development Authority to issue bonds in an amount not to exceed $20,000,000 to provide financing for the acquisition, rehabilitation, and development of the 89­unit multifamily housing Project located at 9222 Van Nuys Boulevard in CD 6. Items for which Public Hearings Have Been Held