City Council

11. Resolution No. 9857 – Authorizing the Los Angeles County Development Authority\n(LACDA) to issue bonds or notes in an amount not to exceed $34,800,000 and make or\nacquire mortgage loan(s) in connection with a residential development (Lakeland\nApartments), in the City of Santa Fe Springs and certain actions related thereto (Planning)\nRecommendation:\n Receive the staff report and any comments from the public regarding\nResolution No. 9857, authorizing the LACDA to issue bonds or notes\nin an amount not to exceed $34,800,000 and make or acquire\n5\nmortgage loan(s) in connection with a multifamily residential\ndevelopment (“Lakeland Apartments”), in the City of Santa Fe\nSprings and certain actions related thereto; and\n Find that the proposed actions are not projects pursuant to the\nCalifornia Environmental Quality Act (CEQA) because they are an\nactivity that is excluded from the definition of a project by Section\n15378 (b)(5) of the State CEQA guidelines, and the proposed actions\nare administrative activities of government which will not result in\ndirect or indirect physical change to the environment; and\n Adopt Resolution No. 9857, consenting to and authorizing LACDA to\nissue bonds or notes in an amount not to exceed $34,800,000 and\nmake or acquire mortgage loan(s) in connection with a multifamily\nresidential development (“Lakeland Apartments”), in the City of Santa\nFe Springs (13231 Lakeland Road), and certain actions related\nthereto; and\n Authorize the Mayor and or designee to execute any and all\ndocuments, including the Interlocal Cooperation Agreement, deemed\nnecessary or advisable in order to carry out, give effect to, and\ncomply with the terms and intent of Resolution No. 9857 and the\nfinancing approved hereby.