City Council

16. City Council: Staff recommends that the City Council adopt a resolution 25-623 approving a plan of finance including the issuance of revenue bonds by the California Municipal Finance Authority, in an aggregate principal amount not to exceed $65,000,000, to finance and refinance the acquisition, construction, development and equipping of a 179-unit qualified residential rental project to be located at 712 Seagaze Drive (the “Project”) for the benefit of 716 Seagaze Affordable, L.P., a California Limited Partnership (or an affiliate), and certain other matters relating thereto. A) Mayor opens public hearing B) Mayor requests disclosure of Councilmember and constituent contacts and correspondence C) Clerk presents correspondence and/or petitions D) Testimony beginning with Leilani Hines, Housing and Neighborhood Services Director E) Recommendation - adopt resolution