HomeMy WebLinkAbout84-101 - Application Fees for Multi-Family Rental Bond Financing Program87
RESOLUTION NO. 84-101
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, ESTABLISHING THE FEE
FOR PROCESSING APPLICATIONS FOR PARTICIPATION IN
THE MULTI -FAMILY RENTAL REVENUE BOND FINANCING
PROGRAM.
WHEREAS, the California State Legislature approved Assembly Bill 665,
and amended sane by Assembly Bill 55 in 1983 to provide revenue bond
financing for construction of residential rental housing; and
WHEREAS, the County of Orange has established the Multi -Family Rental
Revenue Bond Financing Program pursuant to this legislation for the purpose
of processing bond issues for residential rental projects; and
WHEREAS, the City Council of the City of Costa Mesa has adopted
Council Policy 500-1 which establishes a review and approval procedure for
those rental projects to be considered for bond financing; and
WHEREAS, the processing of such requests does require a detailed
evaluation of the project submittal and negotiation of the terms and condi-
tions of the Cooperative Agreement;
NOW, THEREFORE, BE IT RESOLVED that there be and is hereby established
a processing fee of $250.00 for each project application for participation
in the Multi -Family Rental Revenue Bond Financing Program.
PASSED AND ADOPTED this 6th day of Augus . ___4:
i
Mayor of the City of Costa Mesa
ATTEST:
49ty Clerk of the City of Costv6sa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, EILEEN P. PHIN1M, City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and fore-
going Resolution No. 84-101 was duly and regularly passed and adopted by
the said City Council at a regular meeting thereof, held on the 6th day of
August, 1984.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal
of the City of Costa Mesa this 7th day of August, 1984.
-(�jto� (�_ I
iHtfy Clerk and ex -officio Clerk o e
City Council of the City of Cos sa