Title
a. Conduct a public hearing under the requirements of Tax Equity and Financial Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended; and
b. Adopt a resolution approving the issuance of Multifamily Housing Revenue Bonds on behalf of San Vicente Soledad AR, L.P., a California limited partnership (the "Borrower") by the Golden State Finance Authority in the aggregate not to exceed $5,800,000 to finance the acquisition, rehabilitation, and equipping of a 50 unit multifamily rental housing project located at 250 San Vicente Road, Soledad, California, 93960, Monterey County, known as San Vicente Townhomes (the "Project"), and certain other matters relating thereto.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Conduct a public hearing under the requirements of Tax Equity and Financial Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended; and
b. Adopt a resolution approving the issuance of Multifamily Housing Revenue Bonds on behalf of San Vicente Soledad AR, L.P., a California limited partnership (the "Borrower") by the Golden State Finance Authority in the aggregate not to exceed $5,800,000 to finance the acquisition, rehabilitation, and equipping of a 50 unit multifamily rental housing project located at 250 San Vicente Road, Soledad, California, 93960, Monterey County, known as San Vicente Townhomes (the "Project") and certain other matters relating thereto.
SUMMARY AND DISCUSSION:
San Vicente Soledad AR, L.P., a California limited partnership has requested that the Golden State Finance Authority (the "Authority") participate in the issuance one or more series of Multifamily Housing Revenue Bonds in an aggregate principal amount not to exceed $5,800,000 (the "Bonds") to finance the acquisition, rehabilitation, and equipping of a 50 unit multifamily rental housing project located at 250 San Vicente Road, Soledad, California, 93960, Monterey County, known as San Vicente ...
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