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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. The acquisition and <br />rehabilitation of these properties will assist the City and Agency to <br />meet their affordable housing goals as identified in the Consolidated <br />Plan, Redevelopment Implementation Plan and Housing Element. <br />ENVIRONMENTAL IMPACT <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 />`Yl <br />Nancy T. wards <br />Assistant irector <br />Community Development Agency <br />SGH /SLB /mlr <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />4 ��" �" -& <br />fir, ancisco Gutierrez <br />�j Executive Director <br />Finance and Management Services Agency/.,. <br />H: \ACTIONS \2006 CC \JT CC- CRA -HA MortRevBondInduceTefra 12- 18- 06.doc <br />7-24 <br />