City Council

7. ECONOMIC DEVELOPMENT AND TECHNOLOGY COMMITTEE: APPROVE A MEMORANDUM OF UNDERSTANDING WITH SELF-HELP CREDIT UNION OR ANY QUALIFIED LENDER TO MODIFY LOANS UNDER THE ACCESSORY DWELLING UNIT PROGRAM (Housing Dept.) Recommendation: It is recommended that the City Council: (1) Find that the recommended action is exempt from the California Environmental Quality Act (“CEQA”) pursuant to State CEQA Guidelines per Section 15061 (b)(3), the “common sense” provision that CEQA only applies to projects that may have a significant effect on the environment; and (2) Authorize the City Manager to execute a memorandum of understanding with Self-Help Federal Credit Union, or any qualified lender for optional refinancing of accessory dwelling unit loans from the City, according to the terms and conditions set forth in this report.