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Councilmember Sarmiento, concerned that project does not have <br />entitlements and not thoroughly vetted; 1,100 units proposed for senior <br />housing units that may not be needed — multi -family housing shortages; <br />supports continuance to review composition of units. Housing element and <br />other questions; avoid liability. <br />Ben, representing California Municipal Financing Authority, indicating that <br />this is a requirement of the Bond financing process; noted that Trump <br />Administration through the Senate is considering removing 4% bond in <br />January. <br />City Attorney Carvalho, clarified that Senate Bill is pending, but has not <br />been approved or rejected; TEFRA rules are that Council is to decide if <br />there is a public need for this project and any other body could have <br />considered this Hearing. <br />Applicant, confirmed that resolution will determine maximum bond <br />amount, but project details can be revised; project details would be vetted <br />by Planning Commission and ultimately the City Council; deadline to <br />submit application is next Tuesday. <br />Councilmember Tinajero, concerned with too many unknowns to approve <br />resolution. <br />Councilmember Solorio, supports affordable housing efforts although <br />reserve rights not to approve parking or project in the future. <br />MOTION; Table indefinitely. <br />MOTION: Martinez <br />VOTE: AYES: <br />NOES: <br />ABSTAIN <br />ABSENT: <br />SECOND: Sarmiento <br />Benavides, Martinez, Pulido, Sarmiento, <br />Tinajero, (5) <br />Solorio, Villegas (2) <br />None (0) <br />None (0) <br />75G. PUBLIC HEARING - ISSUANCE OF TAX EXEMPT BONDS FOR THE <br />BENEFIT OF FIRST POINT SENIOR APARTMENTS LOCATED AT 2110 <br />EAST 1ST STREET, AND RESOLUTION APPROVING THE ISSUANCE <br />OF BONDS, SANTA ANA PACIFIC ASSOCIATES II, L.P. {STRATEGIC <br />PLAN NO. 5, 3) — Community Development Agency <br />CITY COUNCIL MINUTES 19 NOVEMBER 7, 2017 <br />