LA County Board

1-D. Multifamily Housing Mortgage Revenue Bonds or Notes for Affordable\nMultifamily Housing in the City of Alhambra\nRecommendation: Adopt and instruct the Chair to sign a resolution, as required\nunder United States Treasury Departments regulations, declaring an intent by\nAlhambra Second Street LP, or an approved affiliate or assign thereof, to\nundertake bond financing in an amount not to exceed $25,000,000, to finance\nthe acquisition, construction, rehabilitation, and/or development of the Mariposa\non Second Apartments Project, a 50-unit affordable housing development\nlocated at 46 South Second Street in the City of Alhambra (1); authorize the\nExecutive Director of the Los Angeles County Development Authority (LACDA)\nto submit an application to the California Debt Limit Allocation Committee for a\nprivate activity bond allocation on an aggregate amount not exceeding\n$25,000,000, for the purposes described herein and to take whatever further\naction relating to the aforesaid financial assistance may be deemed reasonable\nand desirable, provided that the terms and conditions under which the bonds or\nnotes are to be issued and sold shall be approved by LACDA in the manner\nprovided by law prior to the sale thereof. Find that adoption of the resolution is\nnot subject to the California Environmental Quality Act. ADOPT (24-0971)