TO: BOARD OF SUPERVISORS
FROM: Executive Office
MEETING DATE: January 23, 2024
DEPARTMENT CONTACT:
Darcie Antle
PHONE:
707-463-4441
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Approval of Allocation of the Private Activity Bonds for 2024 to Golden State Finance Authority (GSFA) for Inclusion in their Mortgage Credit Certificate (MCC) Program and/or any of GSFA 2024 and 2025 Mortgage Revenue Bond (MRB) Programs
End
RECOMMENDED ACTION/MOTION:
recommendation
Approve allocation of the private activity bonds for 2024 to Golden State Finance Authority (GSFA) for inclusion in their Mortgage Credit Certificate (MCC) program and/or any of GSFA 2024 and 2025 Mortgage Revenue Bond (MRB) programs.
End
PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
N/A
SUMMARY OF REQUEST:
The California Debt Limit Allocation Committee has approved the allocation of private activity bonds for 2024 to the Golden State Finance Authority (GSFA) for use in their Mortgage Credit Certificate (MCC) program and/or any of the GSFA 2024 and 2025 Mortgage Revenue Bond (MRB) programs. Each year, counties in California receive a per capita portion of private activity bonds, and in 2019, Mendocino County assigned its allocation to GSFA for the MCC program. However, no new funds have been allocated by CDLAC since then.
ALTERNATIVE ACTION/MOTION:
Do not approve and provide direction to staff
STRATEGIC PLAN PRIORITY DESIGNATION: An Effective County Government
SUPERVISORIAL DISTRICT: ALL
VOTE REQUIREMENT: Majority
SUPPLEMENTAL INFORMATION AVAILABLE ONLINE AT: N/A
FISCAL DETAILS:
SOURCE OF FUNDING: N/A
CURRENT F/Y COST: N/A
BUDGET CLARIFICATION: N/A
ANNUAL RECURRING COST: N/A
BUDGETED IN CURRENT F/Y (IF NO, PLEASE DESCRIBE): N/A
REVENUE AGREEMENT: N/A
AGREEMENT/RESOLUTION/ORDINANCE APPROVED BY COUNTY COUNSEL: N/A
CEO LIAISON: Darcie Antle, CEO
CEO REVIEW: Yes
CEO COMMENTS:
FOR COB USE ONLY
Executed By: Atlas Pearson, Sen...
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