Board authorizes TEFRA financing step for Step Up Housing Orcutt project; Chair abstains
After a contested TEFRA hearing for Step Up Housing's proposed Orcutt acquisition project (estimated $45M, not-to-exceed bonds $60M), the Board approved staff's recommendation to authorize the TEFRA action; the motion passed 4-0 with Chair Nelson abstaining as he continues conversations with the applicant.
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The Board of Supervisors on July 14 held a TEFRA hearing required by federal tax law before authorizing tax-exempt bond financing for Step Up Housing's proposed Orcutt acquisition.
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