75B - LEGACY SQUARE APARTMENTS - Laserfiche WebLink

Home Browse Search

Legacy Square Apartments — TEFRA Hearing December 17, 2019 Page 3 In general, this action by the City of Santa Ana will not obligate the City or any department thereof to undertake any discretionary action related to the development of the project. California Statewide Communities Development Authority CSCDA is a joint powers authority sponsored by the League of California Cities ("League") and the California State Association of Counties ("CSAC"). CSCDA was created by the League and CSAC in 1988 to enable local government and eligible private entities access to low-cost, tax- exempt financing for projects that provide a tangible public benefit, contribute to social and economic growth and improve the overall quality of life in local communities throughout California. CSCDA is comprised of more than 530 members, including the City of Santa Ana. CSCDA has issued more than $63 billion through 1,600-plus financings since 1988 and consistently ranks in the top 10 of more than 3,000 nationwide public issuers of tax-exempt debt, as measured by annual issuance amount. Both the League and CSAC continue to sponsor CSCDA. Issuance fees are shared with both the League and CSAC, which have kept member dues unchanged and provide other benefits to all city and county members. STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal # 5 - Community Health, Livability, Engagement & Sustainability, Objective # 3 (Facilitate diverse housing opportunities and support efforts to preserve and improve the livability of Santa Ana neighborhoods). FISCAL IMPACT The City received a payment of $865.03 in November 2019 to hold a TEFRA Hearing for this project, which was deposited into Account no. 01102002-53902. Steven A. Mendoza Executive Director Community Development Agency Exhibit: 1. Resolution APPROVED AS TO FUNDS AND ACCOUNTS: Kathryn Downs, CPA Executive Director Finance and Management Services Agency 75B-3