HomeMy WebLinkAboutCC Resolution 7138 (Multifamily Rental Housing Projects)RESOLUTION NO. 7138
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL
CONSENTING TO THE ISSUANCE OF
MULTIFAMILY MORTGAGE REVENUE BONDS
BY THE HOUSING AUTHORITY OF THE COUNTY OF MARIN
FOR THE PURPOSE OF PROVIDING FINANCING
TO CERTAIN MULTIFAMILY RENTAL HOUSING PROJECTS
WHEREAS, the Housing Authority of the County of Marin
(the "Authority") is authorized by law to issue multifamily
mortgage revenue bonds for the purpose of financing the construction
of multifamily rental housing developments and related auxiliary
facilities and Copple, Foreaker, Hansen and Biggs partnership
and Victor and Constantina Gavallos (collectively, the "Developers")
have requested that the Authority exercise such authority on
their behalf for the purpose of financing, respectively, a
multifamily rental housing project to be located at 1606 Third
Street in the City of San Rafael and generally known as 1606
Third Street and a multifamily rental housing project to be
located at 251 and 253 Channing Way in the City of San Rafael
and generally known as Channing Crest (collectively, the "Projects");
and
WHEREAS, an authority has not been authorized to
transact such business or exercise any such powers within the
City of San Rafael and the Authority may therefore not operate
in the City unless the consent of the City Council has been
obtained pursuant to Section 34209 of the Health and Safety
Code of the State of California.
NOW, THEREFORE, BE IT RESOLVED:
1. That the City Council does hereby approve the
issuance of multifamily mortgage revenue bonds by the Authority
in the principal amount of not to exceed $3,000,000 for the
purpose of providing financing to the Developers for the construction
of the Projects.
2. That the City Council, pursuant to Section 34209
of the Health and Safety Code, hereby consents to the operation
of the Authority within its boundaries to the extent necessary
to accomplish said financing.
3. This Resolution shall be effective upon its adoption.
RESOLUTION NO. 7139
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael,
hereby certify that the foregoing resolution was duly and regularly
introduced and adopted at a regular meeting of the Council
of said City on Monday , the Fifteenth day of July
1985, by the following vote, to wit:
AYES: COUNCILMEMBERS : Breiner, Frugoli, Nave, Russom & Mayor Mulryan
NOES: COUNCILMEMBERS : None
ABSENT: COUNCILMEMBERS : None
•
JEAYNE M. LEONCINI; City Clerk