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PH - Mortgage Revenue Bond Inducement <br />and TEFRA <br />August 6, 2012 <br />Page 3 <br />bond allocation. On July 23 and July 30, 2012, public hearing notification was published in the <br />Orange County Register. In addition, Orrick, Herrington & Sutcliffe, LLP will serve as bond counsel <br />and CSG Advisors, Inc. will serve as financial consultant for the Housing Authority. Their fees will <br />be paid by the developer. <br />The acquisition and rehabilitation of this property will assist the City to meet their affordable <br />housing goals as identified in the Consolidated Plan, and Housing Element. It will also ensure that <br />the project, which is at risk of being removed from the City's affordable housing stock, will be <br />maintained. <br />FISCAL IMPACT <br />The issuer fees generated from the issuance will be deposited into the issuer fee account (Account <br />#13318002). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />elly L y dry-Bayle <br />Housing Division Manager <br />Community Development Agency <br />NTE/SLB/kg <br />Exhibits: 1. Map <br />2. Resolutions <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br /> <br />8OA-3