HomeMy WebLinkAboutMINUTES - 01141986 - 1.34 TO, BOARD OF SUPERVISORS
FROM: Anthony A. Dehaesus Contra
Director of Community Development Costa
DATE' December 30, 1985 Coirty
SUBJECT: Administration Agreement between the County and the County Housing
Authority for Multifamily Revenue Bond Issues
SPECIFIC REQUEST(S) OR RECOMMENDATION(.S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION
Approve and authorize the Director of Community Development to sign
Administration Agreements between the County of Contra Costa and the
Housing Authority of Contra Costa County pursuant to Multifamily
Revenue Bond Issues 1985-E and 1985-J.
BACKGROUND
The County has frequently been an issuer of multifamily revenue
bonds. Pursuant to those issues of bonds the Community Development
Department of the County has been designated as the "Administrator" .
In such capacity the department monitors compliance of the develop-
er/owner with provisions of a Regulatory Agreement. The Administra-
tor is compensated on an annual basis for costs incurred.
Due to State volume cap considerations the final two multifamily
bond issues completed were issued by the Housing Authority (City and
County authority to issue bonds in the State of California had
reached its legislatively allowed maximum - Housing Authority are
not covered by this maximum) . Inasmuch as the Community Development
Department is set up administratively to conduct the compliance
monitoring the County has been designated as the "Administrator" by
the Housing Authority. An agreement between the County and the
Authority should be executed.
FINANCIAL IMPACT
The County will be compensated with an annual amount more than
sufficent to cover costs incurred.
CONTINUED ON ATTACHMENT: YES SIGNAT
RECOMMENDATION OF COUNTY ADMINISTRATOR COM END TION O BOARD COMMITTEE
APPROVE OTHER
i
SIGNATURE(S):
ACTION OF BOARD ON January 14 , .1986 APPROVED AS RECOMMENDED _ OTHER
VOTE OF SUPERVISORS
• I HEREBY CERTIFY THAT THIS IS A TRUE
-X UNANIMOUS (ABSENT -- AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES. AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
cc: County Administrator ATTESTED January 14 , .1986
Community Development PHIL BATCHELOR, CLERK OF THE BOARD OF
Housing Authority SUPERVISORS AND COUNTY ADMINISTRATOR
M382/743 la BY ,DEPUTY