Title
HEARING - Consider recommendations regarding the Housing Authority of the County of Santa Barbara Issuance of Tax-Exempt Multifamily Housing Revenue Obligations for San Simeon Oaks Village, 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 FLT San Simeon Oaks, LP, and consider public comment;
b) Adopt a Resolution of the Board of Supervisors of the County of Santa Barbara approving a plan of finance for the issuance of multifamily housing revenue obligations for San Simeon Oaks Village by the Housing Authority of the County of Santa Barbara for FLT San Simeon Oaks, LP in an aggregate principal amount not to exceed $30,000,000.00, to finance the acquisition, construction, development and equipping of a 106-unit multifamily rental housing facility to be located in the unincorporated area of the County of Santa Barbara at the northeast corner of the intersection of San Simeon Drive and South San Marcos Road, 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: POLICY