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HEARING - Community Development Services, Planning and Building Department, recommending the Board conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act of the Internal Revenue Code of 1986, as amended, to consider adoption and authorizing the Chair to sign Resolution 177-2018 approving the issuance of bonds by the Golden State Finance Authority for the purpose of financing the acquisition and rehabilitation of a multifamily residential housing facility located in the county at 2789 Ray Lawyer Drive and generally known as Placer Village Apartments, with no financial obligation to the County. (Est. Time: 10 Min.)
FUNDING: Golden State Finance Authority multifamily housing revenue bonds in one or more series in the maximum principal amount of $8,300,000 (Placer Village Apartments Project, Placerville)
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DEPARTMENT RECOMMENDATION
HEARING - Community Development Services, Planning and Building Department, recommending the Board conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act of the Internal Revenue Code of 1986, as amended, to consider adoption and authorizing the Chair to sign Resolution 177-2018 approving the issuance of bonds by the Golden State Finance Authority for the purpose of financing the acquisition and rehabilitation of a multifamily residential housing facility located in the county at 2789 Ray Lawyer Drive and generally known as Placer Village Apartments, with no financial obligation to the County, with no financial obligation to the County.
DISCUSSION / BACKGROUND
The El Dorado County Board of Supervisors is being asked to adopt a resolution which would approve the issuance of multifamily housing revenue bonds by the Golden State Finance Authority (the “Authority”) for the purpose of financing the acquisition and rehabilitation of a multifamily residential housing facility located in the county (the “Project”). The Project is a 76-unit multifami...
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