Tax-Exempt Conduit Obligations to Finance Housing Facilities

Board of Supervisors

Meeting Date: 1/26/2016

Preview

The Board will conduct two Tax Equity and Fiscal Responsibility Act (TEFRA) hearings on funding for housing facilities in unincorporated areas of Marin. The Board will hear a request for issuance of up to $16 million of tax-exempt conduit obligations to finance the acquisition, rehabilitation, improvement and equipping of a 50-unit multifamily rental housing facility for seniors located at 626 Owens Drive, Novato. Then, the Board will hear a request for issuance of up to $7 million of tax-exempt conduit obligations to finance the acquisition, rehabilitation, improvement and equipping of a 25-unit multifamily rental housing facility for seniors located at 600 A Street in Point Reyes Station. Staff recommends that the Board consider adopting resolutions to approve the issuance of the bonds.

Review

The Board conducted both TEFRA hearings and approved both requests to issue tax-exempt conduit obligations related to the housing projects.

Need more info? See the staff report about the Owens Drive housing facility and the Point Reyes Station housing facility.

Contact: Matthew Hymel, County Administrator

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