Recommendation to receive supporting documentation into the record regarding the Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing, and adopt resolution approving the issuance of revenue bonds by the California Statewide Communities Development Authority (CSCDA), to benefit Springdale West Preservation Limited Partnership, or its affiliates, Springdale West Apartments, in an amount not to exceed $80,000,000.  (District 7)
Item 17. Item number 17 Report from Financial Management and Develop and Development Services Recommendation to receive supporting documentation into the record regarding the Tax Equity and Fiscal Responsibility Act. Public Hearing and adopt resolution approving the issuance of relevant revenue bonds to benefit Springdale West Preservation Limited Partnership in an amount not to exceed $80 million. District seven. There's been a motion and a second councilmember your UNGA or Austin would you like to. Thank you, Mayor. First of all, I want to thank city staff for preparing the team, for hearing today's vote, especially important because it will allow us to continue to offer affordable housing at Springdale, West and west Long Beach, while bringing property upgrades to the residents such as landscaping, new kitchen appliances, countertops, canned cabinets, fencing, painting, water heaters . All of these are very important to raise the quality of life in the Springdale housing area, and I would really want to encourage your support of this. Council member, Austin. I think that Motion Council member, I think said it best. Council member super or not. Yes. I just had a suggestion. I noticed in the discussion that newer kitchen appliances are included in the rehab. And I just wondered if Senate Bill 88 might apply, and that is assistance for low income residents to purchase energy efficient appliances. Maybe the developer can exempt sales tax and use tax from the appliances in the modernization, since the property will be designated as low income housing for the city's housing element. Vice Mayor and members of the City Council. We did discuss this with the developer representative and unfortunately AB 88 requires that the local public utility purchase the appliances in order for them to qualify for this. And in this instance, the local public utility is not purchasing those appliances. So the project does not qualify. For for that. Is that it, Councilmember? Yes. Okay. Thank you. There's been a motion and a second. Is there any member of the public that wished to address the Council on item? 17. Seeing nine members cast your vote and I'm a yes. Councilwoman Mango. Thank you. Motion carries nine zero. Item 18.