REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF THE COUNTY OF SAN BERNARDINO
AND RECORD OF ACTION
February 11, 2020
FROM
MATTHEW ERICKSON, County Chief Financial Officer, Finance and Administration
SUBJECT
Title v
Las Terrazas Multifamily Rental Housing Tax-Exempt Financing
End
RECOMMENDATION(S)
Recommendation
1. Conduct a Tax Equity and Fiscal Responsibility Act public hearing regarding the issuance of one or more series of bonds in an aggregate principal amount not to exceed $30 million, for the purpose of financing or refinancing the acquisition, construction, improvement and equipping of a multifamily rental housing project by AMCAL Las Terrazas Fund L.P. located in the unincorporated area of the County of San Bernardino.
2. Adopt Resolution approving the issuance by the California Municipal Finance Authority of one or more series of its revenue bonds in an aggregate principal amount not to exceed $30 million, for the purpose of financing or refinancing the acquisition, construction, improvement and equipping of a multifamily rental housing project by AMCAL Las Terrazas Fund L.P. located in the unincorporated area of the County of San Bernardino.
(Presenter: Amanda Trussell, Principal Administrative Analyst, 387-5423)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Ensure Development of a Well-Planned, Balanced, and Sustainable County.
Provide for the Safety, Health and Social Service Needs of County Residents.
Pursue County Goals and Objectives by Working with Other Agencies.
FINANCIAL IMPACT
Bonds issued under this resolution are limited obligations of the California Municipal Finance Authority (CMFA) payable solely out of the revenues duly pledged.
Pursuant to the joint exercise of powers agreement governing CMFA, in which the County is a member, the bonds do not constitute a debt of the County nor do the bonds represent a pledge of the faith and credit of the County.
A portion of the initial issuance fee will b...
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