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REVISED 12/15/06 <br />PUBLIC HEARINGS <br />A Public Hearing provides individuals the opportunity to be heard regarding an intended action of <br />the Community Redevelopment Agency and the City Council. Persons wishing to speak <br />regarding Public Hearing matters should file a "Request to Speak" form with the Recording <br />Secretary. <br />7. PUBLIC HEARING - MORTGAGE REVENUE BOND INDUCEMENT AND <br />TEFRA ON ISSUANCE OF TAX - EXEMPT BONDS AND LOAN AGREEMENTS <br />WITH WILSHIRE /MINNIE. L.P. <br />At its Regular Meeting of December 5, 2006, the Community Redevelopment <br />and Housing Commission voted 6:0 (Turner absent) to continue this item to a <br />Special Meeting on December 13, 2006. <br />Recommended actions approved by the Community Redevelopment and <br />Housing Commission at its Special Meeting of December 13, 2006, by a vote of <br />6:0 (Turner absent). <br />Legal notice published in the Orange County Register on December 1, 2006. <br />CITY COUNCIL <br />Recommended Action: <br />1. Hold a TEFRA (Tax Equity and Financial Responsibility Act) Hearing <br />in consideration of the issuance of multi - family housing revenue <br />bonds by the Housing Authority of the City of Santa Ana for the <br />purpose of financing the acquisition and rehabilitation of seventeen <br />properties located at 1201, 1209, 1213, 1221, 1225, 1229, and 1233 <br />East Wilshire and 1401, 1403, 1409, 1413, 1421, 1425, 1429, 1433, <br />1437, and 1439 South Minnie by Wilshire /Minnie, L.P. <br />2. Adopt a resolution approving the issuance of tax - exempt bonds for <br />the project. <br />3. Direct the City Attorney to prepare a loan agreement with <br />Wilshire /Minnie, L.P., for the acquisition and rehabilitation of 1201, <br />1209, 1213, 1221, 1225, 1229, and 1233 East Wilshire and 1401, 1403, <br />1409, 1413, 1421, 1425, 1429, 1433, 1437, and 1439 South Minnie in a <br />total amount not to exceed $2.4 million. <br />CRA AGENDA 5 DECEMBER 18, 2006 <br />