HomeMy WebLinkAboutMINUTES - 03191985 - 1.16 TO: BOARD OF SUPERVISORS
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FRbM: Anthony A. Dehaesus Contra,..
Director of Planning _ Costa
DATE: February 4, 1985
County
SUBJECT: AB 53
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
Support AB 53 and authorize Chair .to sign letter expressing said support to the County's
State legislative delegation:
BACKGROUND
Under existing State law,. cities-.and counties, on an aggregate basis, are limited to the
issuance of $900 million in revenVe bonds for multi-family housing in any calendar year. In
1984 the volume cap was reached in November. The proposed issuance of multi-family.
bonds for a.pool of rental projects in late 1984 was adversely impacted by the volume cap.
It is expected that the existing volume cap will be reached much earlier in calendar year
1985. AB 53 (Chacon) has been introduced which would increase the volume cap to $1.5
billion. Passage of this Bill would, facilitate addressing of the tremendous need for
affordable rental housing.
CONTINUED ON ATTACHMENT: YES SIGNATU
RECOMMENDATION OF COUNTY ADMINISTRATOR _RECOM EN A* TlOt OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S)
ACTION Of BOARD ON mar C APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
X UNANIMOUS (ABSENT 4. ) 1 HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN; AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE DATE SHOWN.
i
CC: County Administrator ATTESTED March 19 1985
Legislative Delegation PHIL BATCHELOR, CLERK OF THE BOARD OF
Planning Department SUPERVISORS AND COUNTY ADMINISTRATOR
M382/7-63 G BY DEPUTY