HomeMy WebLinkAbout12/13/2022 Item 6c, Codron - Staff Agenda CorrespondenceCity of San Luis Obispo, Council Memorandum
City of San Luis Obispo
Council Agenda Correspondence
DATE: December 13, 2022
TO: Mayor and Council
FROM: Michael Codron, Community Development Director
VIA: Derek Johnson, City Manager
SUBJECT: ITEM 6C - REISSUANCE OF CONDUIT FINANCING FOR HASLO FOR
THE ACQUISITION AND REHABILITATION OF 172 AFFORDABLE
HOUSING UNITS (TEFRA HEARING)
RECOMMENDATION
Continue the public hearing to January 10, 2023, for the reissuance of conduit financing
under the Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982 and pursuant to the
requirements of the Internal Revenue Code of 1986.
DISCUSSION
Staff is recommending continuation of this item to a date certain, January 10, 2023, to
allow time to accomplish noticing in accordance with the Internal Revenue Code, which
requires the locations of all the units to be identified in the notice of the hearing. A
summary description had been published, but in this case all 175 addresses need to be
included in an expanded notice. This requirement has been noted by staff and supervisors
in Community Development so that the error does not reoccur.