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REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY <br />ACTION <br />MEETING DATE: <br />AUGUST 6, 2012 <br />TITLE: <br />PUBLIC HEARING - MORTGAGE REVENUE BOND <br />INDUCEMENT AND TEFRA ON ISSUANCE OF TAX- <br />EXEMPT BONDS WITH WASHINGTON PLACE <br />MANAGEMENT, LLC <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 1st Reading <br />? Ordinance on 2nd Reading <br />? Implementing Resolution <br />? Set Public Hearing For <br />CONTINUED TO <br />tAk t? G A41 GL-L (4 C6k&O,-C- "v FILE NUMBER <br />CITY MANAGER EXECUTI DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />Hold a TEFRA (Tax Equity and Financial Responsibility Act) Hearing in consideration of the <br />issuance of multi-family housing revenue bonds by the Housing Authority of the City of <br />Santa Ana for the purpose of financing the acquisition and rehabilitation of 1401 N. <br />Flower Street by Washington Place Management, LLC. <br />2. Adopt a resolution approving the issuance of tax-exempt bonds for the project. <br />HOUSING AUTHORITY ACTION <br />Adopt a resolution relating to the issuance of bonds for the purpose of financing the acquisition and <br />rehabilitation of multifamily rental housing located at 1401 N. Flower Street. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION <br />At its regular meeting on July 17, 2012, by a vote of 5:0 (Wooten and Reyes absent), the <br />Community Redevelopment and Housing Commission adopted a resolution recommending <br />approval of the issuance of multifamily housing revenue bonds by the Housing Authority of the City <br />of Santa Ana for the purpose of financing the acquisition and rehabilitation of multifamily rental <br />housing. <br />8OA-1