Title:
Title
(Housing Authority/City Council) Victory Townhomes, Dixieanne Apartments and Norwood Annex Tax Equity and Fiscal Responsibility Act (TEFRA) Hearing and Approval of Tax-Exempt Bonds [Noticed on 11/05/2018]
End
FileID
File ID: 2018-01165
Location
Location: 1048 Dixieanne Avenue, 1075 Dixieanne Avenue, and 3301 Norwood Avenue, District 2.
Recommendation:
Recommendation
Conduct a public hearing and upon conclusion adopt: 1) a City Council Resolution indicating the City Council has conducted a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing related to the proposed acquisition and rehabilitation of Victory Townhomes, Dixieanne, and Norwood Annex (the "Project"); and 2) a Housing Authority Resolution which a) indicates the intention of the Housing Authority of the City of Sacramento to issue up to $14,000,000 in tax-exempt mortgage revenue bonds to provide acquisition and construction financing for the Project; b) authorizes an application to the California Debt Limit Allocation Committee (CDLAC) for allocation authority to issue the bonds; and c) authorizes the Executive Director, or designee, to execute the necessary documents associated with the transaction.
Contact: Christine Weichert, Assistant Director, (916) 440-1353, Sacramento Housing and Redevelopment Agency
Body
Presenter: Christine Weichert, Assistant Director, (916) 440-1353, Sacramento Housing and Redevelopment Agency
Attachments:
1-Description/Analysis
2-Vicinity Map Victory Townhomes & Dixieanne
3-Victory Townhomes & Dixieanne Project Photos
4-Vicinity Map Norwood Annex
5-Norwood Annex Project Photo
6-Victory Townhomes, Dixieanne & Norwood Annex Project Summary
7-Maximum Income and Rent Limits
8-City Council TEFRA
9-Housing Authority Bond Inducement Authorization
Description/Analysis
Issue Detail: On June 26, 2018, the Housing Authority approved the intent to issue up to $11,000,000 in tax-exempt bonds and City Council approved two Agency loans of ...
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