HEARING COMMENTS and CONSIDERATION OF RESOLUTION pursuant to the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) relative to the issuance of one or more series of revenue bonds in an aggregate principal not to exceed $110,000,000 for the purpose of financing the acquisition, rehabilitation, improvement, and equipping of a 430-unit multifamily rental housing project located at 12700 Van Nuys Boulevard and 12601 Pierce Street, in the City of Los Angeles, Council District Seven, generally known as Pierce Park Apartments.

Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR:

1. HOLD a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 regarding the issuance of one or more series of revenue bonds issued from time to time, including bonds issued to refund such revenue bonds in one or more series from time to time, in an aggregate principal amount not to exceed $110,000,000 for the purpose of financing the acquisition, rehabilitation, improvement  and equipping of a 430-unit multifamily rental housing project located at 12700 Van Nuys Boulevard and 12601 Pierce Street, in the City of Los Angeles, Council District Seven, generally known as Pierce Park Apartments.
   
   
2. ADOPT the accompanying RESOLUTION approving the issuance of the California Municipal Finance Authority Multifamily Housing Revenue Bonds in an aggregate principal amount not to exceed $110,000,000 for the purpose of financing or refinancing the acquisition, rehabilitation, improvement and equipping of Pierce Park Apartments.