Laserfiche WebLink
CLERK ®F C®UClL tJSE ®NLY. <br />DECEMBER 1$, 2006 <br />TITLE. <br />APPROVEL7 <br />D <br />As Recommended <br />As Amended <br />Qrdinance on '1st Reading <br />Ordinance on 2nd Reading <br />implementing Resolution <br />Set Public Hearing For <br />PUBLIC HEARING - MORTGAGE REVENUE <br />BOND INDUCEMENT AND TEF`RA ON ISSUANCE <br />OF TAX-EXEMPT BONDS AND LOAN <br />AGREEMENTS WITH WILSHIRE/MINNIE, L.P. <br />~' r' ~ <br />CITY MANAGER E ~CECUTIV ©IRECTOR <br />~® ~~ ~~~ <br />CITY COUNCIL ACTION <br />CONTINiJED TO <br />FILE NUMBER <br />1. Hold a TEFRA (Tax Equity and Financial Responsibility Act) Hearing <br />in consideration of the issuance of multi-family housing revenue <br />bonds by the Housing Authority of the City of Santa Ana for the <br />purpose of financing the acquisition and rehabilitation of <br />seventeen properties located at 1201, 1209, 1.213, 1221, 1225, 1229, <br />and 1233 East Wilshire and 1401, 1403, 1409, 1413, 1421, 1425, <br />1429, 1433, 1437, and 1439 South Minnie by Wilshire/Minnie, L.P. <br />2. Adopt a resolution approving the issuance of tax-exempt bonds for <br />the project. <br />3. Direct the City Attorney to prepare a loan agreement with <br />Wilshire/Minnie, L.P., for the acquisition and rehabilitation of <br />1201, 1209, 1213, 1221, 1225, 1229, and 1233 East Wilshire and <br />1401, 1403, 1409, 1413, 1421, 1425, 1429, 1433, 1437, and 1439 <br />South Minnie in a total amount not to exceed $2.4 million. <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <br />Direct the Agency General Counsel to prepare and authorize the Executive <br />Director to execute loan agreements far the acquisition and <br />rehabilitation of 1201, 1209,1213, 1221,1225,1229,and 1233 East Wilshire <br />and 1401, 1403, 1409, 1413, 2421, 1425, 1429, 1433, 1437, and 1439 South <br />~~ <br />»H:>,, <br />