Title
Conduit Financing for the Santa Lucia Townhomes Project
Recommended Action
Approve a Resolution approving the issuance of bonds by the California Statewide Communities Development Authority (CSCDA) for the benefit of Foothill Santa Lucia, LLC (the “Borrower”), a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), to provide for the financing of the Project (the acquisition and improvement of property), such adoption is solely for the purposes of satisfying the requirements of TEFRA, the Code and the California Government Code Section 6500 (and following).