City Council

(41)\n26-0434\nCD 3\nMOTION (BLUMENFIELD - LEE) relative to issuing one or more series\nof revenue bonds or notes in an aggregate principal amount not to\nexceed $110,000,000 to finance and/or refinance the acquisition,\nconstruction, and development of the 316-unit apartment complex\nlocated at 5909 Variel Avenue in Council District 3.\nRecommendations for Council action, SUBJECT TO THE APPROVAL\nOF THE MAYOR:\n1. CONSIDER the results of the Tax Equity and Fiscal\nResponsibility Act of 1982 (TEFRA) public hearing held on\nMarch 17, 2026 for the Project.\n2. ADOPT the accompanying TEFRA RESOLUTION approving\nthe issuance of revenue bonds or notes in an aggregate\nprincipal amount not to exceed $110,000,000 to finance and/or\nrefinance the acquisition, construction, and development of a\n316-unit apartment complex located at 5909 Variel Avenue in\nCouncil District 3