HomeMy WebLinkAbout6.2 Mortgage Revenue Bond Issue Cdg of DLtBLZHo
AGENDA STATEMENT 430-L0
Meeting Date: August 23, 1982
SUBJECT : Letter from Alameda County Planning Director
EXHIBITS ATTACHED : Letter from William Fraley dated August 10, 1982
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RECOMMENDATION : Consider ► l;
FINANCIAL STATEMENT: No cost to theCity
DESCRIPTION : The Alameda County Planning Director has notified the City
that the County is contemplating the development of a mortgage
revenue bond issue for single family and multifamily housing.
This program would make low interest financing available to
developers and home purchasers. Other cities are apparently
having a great deal of success in selling bond issues.
The County is contacting cities throughout the County and
developers to ascertain their interest in participating in
such a program, and has requested that responses be sent to
the County no later than August 27, 1982.
ITEM NO. �. Copies To:
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ALAMEDA COUNTY PLANNING DEPARTMENT
399 Elmhurst Street, Hayward, California 94544 (415) 881-6401
DATE: August 10, 1982
TO: City Man- •ors of Cities in Alameda County
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FROM: Willi : - i , Planning Director
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SUBJECT: Sin. le-Family and Multifamily Rental Mortgage
Re enue Bond Program
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The Alameda County Board of Supervisors on July 20, 1982 approved
in concept a $75 million dollar single-family mortgage: revenue
bond issue for Alameda County as well as the development of a bond
program for multifamily rental housing. As part of this single
and multifamily bond program we are currently selecting an under-
writer, bond counsel , and feasibility consultant; conducting a
survey of developers; and requesting the cities in Alameda County
to indicate their interest in participating with the County in'k
either or both bond programs.
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I would like to hear from you concerning your city' s interest in
joining with the County in a single-family and/or multifamily rental
bond issue. In addition, we would appreciate receiving the names
of any developers you or your staff may be aware of who might be
interested in financing development through a bond program either
in the city or county.
To meet our schedule for preparation of the major elements of the
two bond programs-by September, 1982, I would like to have your
response on this subject no later than August 27, 1982.
Thank you for- your assistance in this matter.
If you have any questions, please call me at 881-6094.
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RECEIVED
AUG 1 81982
CITY OF DUBLIN