HomeMy WebLinkAboutMINUTES - 04041989 - 1.39 1-039
TO: BOARD OF SUPERVISORS ContraFROM: Harvey E. Bragdon Costa
Director of Community Development coirty
DATE: March 20, 1989
SUBJECT: Senate Bill 355 and HR 1200, Extension of Single Family Revenue Bonds
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize support for passage of Senate Bill 355 (Riegle) and HR
1200 (Donnelly and authorize the Chair to sign letters to the
legislative delegation indicating said support and requesting their
co-sponsorship;of legislation.
FISCAL IMPACT
None
BACKGROUND/REASONS FOR RECOMMENDATIONS
Contra Costa County has been a frequent issuer of single family
revenue bonds. These programs provide financing at below market
rates to first time home buyers. The County has utilized this
program in a major way to address the housing needs of its
residents.
Authorization under the tax law to sell single family mortgage
revenue bonds expires at the end of this calendar year. The above
referenced legislation would extend the sunset date of these
programs for three years.
CONTINUED ON ATTACHMENT: YES SIGNATURE: o
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATIO \ OF BOAT COMMI EE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED APR 4 1989
PHID-,:',�BATCHELOR, CLERK OF
THE BOARD OF SUPERVISORS
,Q AND COUNTY ADMINISTRATOR
BY (, �ZZL�CPU� DEPUTY
jk4/jb/sb355.bos