City Council

24. HOLD TAX EQUITY AND FISCAL RESPONSIBILITY ACT (TEFRA) HEARING AND ADOPT RESOLUTION FOR THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY OBLIGATIONS FOR THE BENEFIT OF CGF PROPERTIES LLC (FULLER SEMINARY DORMITORIES) (Finance Dept.) Recommendation: It is recommended that the City Council: (1) Hold a TEFRA hearing; and (2) Adopt a Resolution approving the financing to be undertaken by the California Enterprise Development Authority (CEDA) for the benefit of CGF Properties LLC in a maximum aggregate principal amount not-to exceed $22,000,000 for the purpose of financing, refinancing, and/or reimbursing the cost of acquisition, construction, improvement, furnishing, and equipping of student dormitory facilities located at 261, 271, 281 and 291 North Madison Avenue, Pasadena, California 91101 for the benefit of CGF Properties LLC and other matters relating thereto specified in the agenda report. RESOLUTION