City Council

15. City Council: Staff recommends that the City Council: 25-1182 1) Conduct the public hearing under the requirements of Tax and Equity Fiscal Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended (the “Code”); and 2) Adopt a resolution 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 $75,000,000 to finance and refinance a qualified residential rental project for the benefit of Olive Park Apartments I, LP, 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