Title
HEARING - Consider recommendations regarding the Housing Authority of the County of Santa Barbara Issuance of Tax-Exempt Multifamily Housing Revenue Obligations for the Benefit of Patterson Point Apartments, as follows: (EST. TIME: 5 MIN.)
a) Hold a public hearing in compliance with the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) regarding the issuance by the Housing Authority of the County of Santa Barbara of tax-exempt multifamily housing revenue obligations, for the benefit of Patterson Point, L.P., and consider public comment;
b) Adopt a Resolution approving the issuance by the Housing Authority of the County of Santa Barbara of its multifamily housing revenue obligations for the benefit of Patterson Point, L.P. in an aggregate principal amount not to exceed $9,500,000.00, to finance the acquisition and construction of a 24-unit multifamily rental housing facility, to be located in the unincorporated area of the County located at 80 North Patterson Avenue, Goleta, California; and
c) Determine that the above actions involve government funding mechanisms and/or fiscal activities and are not a project under the California Environmental Quality Act (CEQA), pursuant to Section 15378(b)(4) of the CEQA Guidelines.
COUNTY EXECUTIVE OFFICER’S RECOMMENDATION: APPROVE