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 multi-family housing revenue bonds by the California Municipal Finance Authority, to benefit a partnership to be formed by Mercy Housing California, a nonprofit corporation, in an amount not to exceed $40,000,000.  (District 6)
Report firm Financial Management and Development Services recommendation to receive supporting documentation and to the record regarding the Equity, the Tax Equity and Fiscal Responsibility Act. Public Hearing and adopt resolution approving the issuance of multifamily housing revenue bonds. District six. Is there any public comment on the item? Mr. Greer. I. Part of my comments echo what I told the council in Andrews last Saturday and so forth. I took Atlantic up to the to the meeting and I generally don't go up that route because it's not close to the Marine. I'm not around that area very much, but I was very impressed, very impressed with the housing that starts at Atlantic and PCH, then going north for about 8 to 10 blocks. It looked like a housing section that you would see any place in Belmont Shore or any other mills or any other place and so forth. And if this mirrors that, I think it's well worthwhile. However, however, I still have the same concerns relative to this is a bond measure. Period. And your exposure is tremendous given the kleptocracy, the corruption. Not only in the state of California that flows down into this city, which is there's a few fountain heads of that here, period . And if you didn't notice, the FBI has now moved into the city of San Francisco relative to the sheriff's department. And that, of course, is the the stomping grounds of she that the United States Circuit Court and the U.S. Ninth Circuit. Opined, was responsible for an epidemic of corruption. Right now, the nexus between that and our mayor is something you're going to have to post on those bonds, if not your individual financial liability, that of your spouse. Is in jeopardy. So I would suggest that you check and the smile from the Peter Principle of city manager will not protect you. I would suggest you seek your own counsel, period. For the protection of your family as well as the cities. Thank you. Thank you. There's a motion and a second. Members, please cast your votes. Krispy Kreme. Motion carries. Next item, please.