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HEARING - Consider recommendations regarding Tax and Equity Fiscal Responsibility Act (TEFRA) Hearings regarding the issuance of multifamily housing revenue bonds by the Housing Authority of the County of Santa Barbara to (1) finance the acquisition and rehabilitation of Positano Apartments, and (2) finance the acquisition and rehabilitation of Leland Park Apartments, Second and Fourth Districts, as follows: (EST. TIME: 10 MIN.)
a) Open Public Hearing regarding the issuance by the Housing Authority of multifamily housing revenue bonds for Leland Park Apartments and close Public Hearing as required by Section 147(f) of the Internal Revenue Code of 1986;
b) Adopt a Resolution approving the issuance of multifamily housing revenue bonds by the Housing Authority for Leland Park Apartments in an amount not to exceed $3,000,000.00;
c) Open Public Hearing regarding the issuance by the Housing Authority of multifamily housing revenue bonds for Positano Apartments and close Public Hearing as required by Section 147(f) of the Internal Revenue Code of 1986;
d) Adopt a Resolution approving the issuance of multifamily housing revenue bonds by the Housing Authority for Positano Apartments in an amount not to exceed $10,000,000.00; and
e) Determine that the above actions are not the approval of a project that is subject to environmental review under the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Section 15378(b)(4), finding that the actions are the creation of government funding mechanisms or other government fiscal activities, which do not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment, and direct staff to file a Notice of Exemption.
COUNTY EXECUTIVE OFFICER'S RECOMMENDATION: APPROVE