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File #: 190765    Version: 1 Name: Multifamily Housing Revenue Bonds - 401 Avenue of the Palms (Maceo May Apartments) - Not to Exceed $50,000,000
Type: Resolution Status: Passed
Introduced: 7/9/2019 In control: Clerk of the Board
On agenda: Final action: 8/9/2019
Enactment date: 8/9/2019 Enactment #: 374-19
Title: Resolution declaring the intent of the City and County of San Francisco (“City”) to reimburse certain expenditures from proceeds of future bonded indebtedness; authorizing the Director of the Mayor’s Office of Housing and Community Development (“Director”) to submit an application and related documents to the California Debt Limit Allocation Committee (“CDLAC”) to permit the issuance of residential mortgage revenue bonds in an aggregate principal amount not to exceed $50,000,000 for 401 Avenue of the Palms (Parcel C3.2 of the Treasure Island Master Plan) (Maceo May Apartments); authorizing and directing the Director to direct the Controller’s Office to hold in trust an amount not to exceed $100,000 in accordance with CDLAC procedures; authorizing the Director to certify to CDLAC that the City has on deposit the required amount; authorizing the Director to pay an amount equal to such deposit to the State of California if the City fails to issue the residential mortgage revenue bonds; approving, for purposes of the Internal Revenue Code of 1986, as amended, the issuance and sale of residential mortgage revenue bonds by the City in an aggregate principal amount not to exceed $50,000,000; authorizing and directing the execution of any documents necessary to implement this Resolution; and ratifying and approving any action heretofore taken in connection with the Project, as defined herein, and the Application, as defined herein.
Sponsors: Mayor, Matt Haney
Attachments: 1. Leg Ver1, 2. Project Description, 3. Hrg Notice 061719, 4. TEFRA Hearing Minutes 062619, 5. Form 126, 6. Comm Pkt 072419, 7. Board Pkt 073019, 8. Form 126 Final, 9. Leg Final
Legislation Details
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