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<br />Staff vie"W's approval of the attached resolution as an action to assist Califomia Communities and <br />based on its revie"W', the financing is consistent "W'ith the mission of Califomia Communities. <br />Staff has not researched the specific benefits or project budget for the proposed project or the <br />reputation or intentions of ABHOW. As such, staff is not specifically recommending these <br />projects or endorsing the efforts of the project sponsor. Rather, as indicated, approval of the <br />resolution is vie"W'ed as supporting the actions of Califomia Communities. <br /> <br />With the exception of this public hearing, staff does not anticipate any noticeable staff time <br />being directed to completion of this project. <br /> <br />ST AFF RECOMMENDATION <br /> <br />Staff recommends the Council approve the attached resolution approving a tax-exempt bond <br />financing to be issued by the Califomia State"W'ide Communities Development Authority to <br />benefit American Baptist Homes of the West and certain affiliates. <br /> <br />FISCAL IMPACT <br /> <br />There is no fiscal impact to the City of Pleasanton. The bonds are issued by Califomia <br />Communities for the benefit of ABHOW and the City has no financial involvement in the <br />transaction. <br /> <br />Respectfully Submitted, <br /> <br />::S-r;~ 73---- <br /> <br />Steven R. Bocian <br />Assistant City Manager <br /> <br />~~. <br /> <br />~. <br /> <br />Susan Rossi <br />Director of Finance <br /> <br />Nelson Fialho <br />City Manager <br /> <br />Attachment A: TEFRA Resolution <br />Attachment B: Detailed Applicant History <br />Attachment C: List of ABHOW Facilities <br />Attachment D: Orrick, Herrington & Sutcliffe Clarification <br /> <br />SR:05:336 <br />Page 4 <br />