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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 />availability of larger affordable housing units. <br />rehabilitation of these properties will assist th <br />meet their affordable housing goals as identified <br />Plan, Redevelopment Implementation Plan and Housing <br />ENVIRONMENTAL IMPACT <br />The acquisition and <br />e City and Agency to <br />in the Consolidated <br />Element. <br />In accordance with the California Environmental Quality Act and the <br />National Environmental Policy Act, the proposed project is exempt from <br />further review. Categorical Exemption No. ER 06-203 will be filed for <br />this project. <br />FISCAL IMPACT <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 />APPROVED AS TO FUNDS AND ACCOUNTS: <br />~~ L~NU <br />Nancy T. dwards <br />Assistant Director <br />Community Development Agency <br />SGH/SLB/mlr <br />~~~ancisco Gutierrez <br />Executive Director <br />Finance and Management ,Services Agency <br />,~ <br />H:\ACTIONS\2006 CC\~T CC-CRA-HA ~ortRevBondInduceTefra 12--18-06.doc <br />4 <br />