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<br />P. H. - Mortgage Revenue Bond Inducement <br />and TEFRA on Issuance of Tax-Exempt <br />and Loan Agreements with Wilshire/Minnie, L.P. <br />December 18, 2006 <br />Page 4 <br /> <br />availabili ty of larger affordable housing units. The acquisition and <br />rehabili tation of these properties will assist the City and Agency to <br />meet their affordable housing goals as identified in the Consolidated <br />Plan, Redevelopment Implementation Plan and Housing Element. <br /> <br />ENVIRONMENTAL IMPACT <br /> <br />In accordance with the California Environmental Quality Act and the <br />National Environmental Policy Act, the proposed proj ect is exempt from <br />further review. Categorical Exemption No. ER 06-203 will be filed for <br />this project. <br /> <br />FISCAL IMPACT <br /> <br />Funds for the acquisitions and rehabilitation loans are available in the <br />HOME Program in the amount of $2.4 million (account no.130-148-6951) and <br />Tax Increment Housing Set-Aside Fund in the amount of $8.1 million <br />(account no. 507-936-6951). <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />N:!;~~~l:~W~ <br /> <br />Assistant Director <br />Community Development Agency <br /> <br />~ a~-~ <br /> <br />, <br /> <br />C:::::--J <br /> <br />~JZancisco Gutierrez <br />~~Executive Director <br />Finance and Management Services Agency V <br />..... <br /> <br />SGH/SLB/mlr <br /> <br />H:\ACTIONS\2006 CC\JT CC-CRA-HA MortRevBondlnduceTefra 12-18-06.doc <br /> <br />808-4 <br /> <br />