City Council

A. Public Hearing and Adoption of Resolution Approving the California Municipal Finance Authority\n(“CMFA”) to Issue Revenue Bonds for the Benefit of 1634 20th Street, LP\nRecommended Action\nStaff recommends that the City Council:\n1. Hold a public hearing under the requirements of the Tax and Equity Fiscal Responsibility\nAct (“TEFRA”) and the Internal Revenue Code of 1986, as amended;\n2. Adopt a finding of no possibility of significant effect pursuant to Section 15061(b)(3)\n(Common Sense Exemption) of the California Environmental Quality Act (CEQA)\nGuidelines; and\n3. Adopt a resolution approving the issuance of California Municipal Finance Authority\nbonds in an amount not-to-exceed $45,000,000 for the benefit of 1634 20th Street LP or\na related or successor entity for the purpose of financing or refinancing the acquisition,\nconstruction, improvement, and equipping of a multifamily rental housing project located\nat 1634 20th Street, Santa Monica.\nStaff Report Printout\na. Attachment A - 1634 20Th Street LP Resolution 100824