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Mortgage Revenue Bond Inducement - <br />Cornerstone Village <br />March 6, 2000 <br />Page 2 <br />Although all recommended actions of the Housing Authority of the City of <br />Santa Ana are first reviewed and acted upon the Redevelopment and Housing <br />Commission, in this case there is insufficient time to process this <br />request through standard procedures and meet the CD~,AC application <br />deadline. Therefore, this action of the Housing Authority will be <br />processed as an emergency action as required by state and federal <br />regulations. The Housing Authority declares this to be an emergency <br />matter under Health and Safety Code Section 34292 in order for the <br />Housing Authority to take action.. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />~-. <br />Cynthia J. Ne son <br />Executive Director <br />H:Actions12000 HA1Cornersfonelnducement <br />r.~ly { "'~ <br />~ ~A <br />