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Minutes of the Council of the City of San Diego for the Regular Meeting of Tuesday, January 17, 2006

Page 38

ITEM-333:

Approving Issuance of Bonds by the Housing Authority of the City of San

Diego for the Studio 15 Apartments.

(See San Diego Housing Commission Report HCR05-110 Revised. Centre City Community Area. District 2.)

SAN DIEGO HOUSING COMMISSION’S RECOMMENDATION:

Adopt the following resolution:

(R-2006-584) RETURNED TO THE SAN DIEGO HOUSING COMMISSION

Approving the issuance of not to exceed $25,000,000 aggregate principal amount of multifamily housing revenue Bonds by the Housing Authority of the City of San Diego, for the Studio 15 Apartments, pursuant to Section 147(f) of the Internal Revenue Code of 1986, to finance the acquisition and construction of approximately 275 units of multifamily rental housing located at 70 15th Street;

Declaring the City does not warrant the creditworthiness of the Bonds or guarantee, in any way, the payment of the Bonds. No moneys of the City will be pledged or applied to the repayment of the Bonds.

NOTE: See the Housing Authority Agenda of January 17, 2006 for a companion item.

FILE LOCATION:

MEET

COUNCIL ACTION:

(Time duration: 10:58 a.m. – 10:58 a.m.)

MOTION BY COMMON CONSENT TO RETURN TO THE SAN DIEGO HOUSING COMMISSION FOR FURTHER REVIEW. Passed by the following vote: Peters-yea, District 2-vacant, Atkins-yea, Young-yea, Maienschein-yea, Frye-yea, Madaffer-yea, District 8-vacant.

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