Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Town approves TEFRA hearing resolution for Pacific Crest Commons; CMFA bond issuance not to exceed $35 million
Summary
The Town Council on March 12 held the TEFRA public hearing and adopted a resolution consenting to CMFA's issuance of tax-exempt revenue bonds not to exceed $35,000,000 to finance the Pacific Crest Commons affordable-housing project.
The Truckee Town Council on March 12 held the public hearing required by the Tax Equity and Fiscal Responsibility Act (TEFRA) and unanimously adopted a resolution consenting to the issuance of tax-exempt revenue bonds by the California Municipal Finance Authority (CMFA) for the Pacific Crest Commons affordable rental-housing project, staff said.
What the action does: the council's resolution does not make the town the borrower or guarantor of the debt; it satisfies federal and state notice requirements so that CMFA may issue tax-exempt revenue bonds in an amount not to exceed $35,000,000 for the benefit of Truckee Pacific…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
