approval of a plan of finance for a 100% affordable housing project

Summary

The City of Santa Clara approves a plan of finance for the California Municipal Finance Authority to issue and reissue revenue bonds for a qualified residential rental project, Clara Gardens, located at 3550 El Camino Real. The project is a 120-unit affordable housing development with a total bond amount not to exceed $50,000,000. The resolution satisfies the public approval requirement under Section 147(f) of the Internal Revenue Code.

Details

Subject

approval of a plan of finance for a 100% affordable housing project

Summary

The City of Santa Clara approves a plan of finance for the California Municipal Finance Authority to issue and reissue revenue bonds for a qualified residential rental project, Clara Gardens, located at 3550 El Camino Real. The project is a 120-unit affordable housing development with a total bond amount not to exceed $50,000,000. The resolution satisfies the public approval requirement under Section 147(f) of the Internal Revenue Code.

Vote Detail

X-X

Vote Result

adopted

Adopting Body

City Council of Santa Clara

Adoption Date

2026-05-05

Resolution Number

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