Title:
Title
(City Council / Housing Authority) The Wong Center Senior Housing Community Tax Equity and Fiscal Responsibility Act Hearing and Approval of Tax Exempt Bonds (Noticed 04/06/2021) [Published for 10-Day Review 04/08/2021]
End
FileID
File ID: 2021-00155
Location
Location: 631 F Street, Sacramento CA 95814, District 4
End
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 construction and financing of The Wong Center Senior Housing Community; and 2) a Housing Authority Resolution: a) indicating the intention of the Housing Authority of the City of Sacramento to issue up to $35 million in tax-exempt mortgage revenue bonds to provide acquisition, construction and permanent financing for the Project, and b) authorizing an application to the California Debt Limit Allocation Committee for allocation authority to issue bonds.
FileName
Contact: Christine Weichert, Director, Development Finance, (916) 440-1353; Tyrone Roderick Williams, Deputy Executive Director, (916) 440-1316, Sacramento Housing and Redevelopment Agency
Body
Presenter: Christine Weichert, Director, Development Finance, (916) 440-1353, Sacramento Housing and Redevelopment Agency
Attachments:
1-Description/Analysis
2-City Council Resolution - TEFRA Hearing
3-Housing Authority Resolution - Tax Exempt Bonds
4-Vicinity Map
5-Project Rendering
6-Residential Project Summary
7-Cash Flow Proforma
8-Maximum Income and Rent Limits
9-Scope of Development
Description/Analysis
Issue Detail: The Wong Center Senior Housing Community is a new construction affordable housing development located on 2.05 vacant acres at 631 F Street within the Railyards Specific Plan in Downtown Sacramento. A vicinity map and rendering are included as Attachments 4 and 5.
Mutual Housing California (Deve...
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