Title
HEARING - Consider recommendations regarding California Municipal Finance Authority Financing of Tax-Exempt Facility Bonds on Behalf of Santa Maria Orchard Terrace Associates, LP, as follows: (EST. TIME: 5 MIN.)
a) Hold a public hearing in compliance with the Tax Equity and Fiscal Responsibility Act of 1982 regarding the issuance by the California Municipal Finance Authority of tax-exempt facility bonds, to finance or refinance Santa Maria Orchard Terrace Associates, LP’s multifamily rental housing project located at 1331 East Foster Road, Santa Maria, California, and consider public comment;
b) Adopt a Resolution of the Board of Supervisors of the County of Santa Barbara approving the issuance of the California Municipal Finance Authority facility bonds in an aggregate principal amount not-to-exceed $35,000,000.00 for the purpose of financing or refinancing the acquisition, construction, improvement, and equipping of Orchard Terrace, and certain other matters relating thereto; 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: POLICY