LA County Board

4-D. Multifamily Housing Mortgage Revenue Bonds or Notes to Finance the\nDevelopment and Construction of the Cudahy Seniors Project\nRecommendation: Adopt and instruct the Chair to sign a resolution, as required\nunder Treasury regulations, declaring an intent by Cudahy Senior Apartments\nLP (Borrower), or an approved affiliate or assign thereof, to undertake bond\nfinancing in an amount not to exceed $60,000,000, to finance the acquisition,\nconstruction, rehabilitation, and/or development of the Cudahy Senior\nApartments Project, a 140-unit affordable housing development, located at 4610\nSanta Ana Street in the City of Cudahy (4); authorize the Executive Director of\nthe Los Angeles County Development Authority to submit an application to the\nCalifornia Debt Limit Allocation Committee for a private activity bond allocation\non an aggregate amount not to exceed $60,000,000, for the purposes\ndescribed herein, and take further action relating to the aforesaid financial\nassistance may be deemed reasonable and desirable, provided that the terms\nand conditions under which the bonds or notes are to be issued and sold shall\nbe approved by the Los Angeles County Development Authority in the manner\nprovided by law prior to the sale thereof; and find that adoption of the resolution\nis not subject to the California Environmental Quality Act. ADOPT (24-3040)