City Council

(1) 24­1099 CDs 1, 8, 9 MOTION (HERNANDEZ ­ HARRIS­DAWSON ­ PRICE ­ LEE) and RESOLUTION relative to the issuance of revenue bonds or notes in an aggregate principal amount not to exceed $15,800,00 for the acquisition, development, and equipping of a 96­unit scattered site multifamily affordable housing project known as Two World Apartments (Project) located at 809 West 23rd Street and 1306 South Westlake Avenue in Council District (CD) 1; 8640 South Denver Avenue, 4807 Gramercy Place, and 2625 South Harvard Boulevard in CD 8; and 1048­54 West 42nd Street in CD 9. 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 Friday, September 20, 2024. 2. ADOPT the accompanying TEFRA Resolution, attached to the Motion, to allow the California Statewide Communities Development Authority to issue bonds in an amount not to exceed $15,800,00 to provide financing for the acquisition, development, and equipping of a 96­unit scattered site multifamily affordable housing Project located at 809 West 23rd Street and 1306 South Westlake Avenue in CD 1; 8640 South Denver Avenue, 4807 Gramercy Place, and 2625 South Harvard Boulevard in CD 8; and 1048­54 West 42nd Street in CD 9.