6135461 Resolution 21-575, Emory Beacon Center Mortgage Revenue Bond Financing Emergency Approval Resolution of 2016

A RESOLUTION

                                                        

21-575

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

July 12, 2016        

 

 

To approve, on an emergency basis, HFA21-0020, the District of Columbia Housing Finance Agency Amended Eligibility Resolution as to the Eligibility of the Beacon Center for Tax -Exempt and/or Taxable Multifamily Housing Mortgage Revenue Bond Financing, which would increase the not-to-exceed amount of tax-exempt or taxable multifamily housing mortgage revenue bond financing for the Emory Beacon Center project to $26 million.

 

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Emory Beacon Center Mortgage Revenue Bond Financing Emergency Approval Resolution of 2016”.

 

Sec. 2.  Pursuant to section 207(b) of the District of Columbia Housing Finance Agency Act, effective October 5, 1985 (D.C. Law 6-44; D.C. Official Code § 42-2702.07(b)), the District of Columbia Housing Finance Agency submitted to the Council on June 15, 2016, HFA 21-0020, the District of Columbia Housing Finance Agency Amended Resolution as to the Eligibility of the Beacon Center For Tax-Exempt and/or Taxable Multifamily Housing Mortgage Revenue Bond Financing, which provided notice of the Board of Directors of the District of Columbia Housing Finance Agency’s proposal to issue revenue bond financing in a not-to-exceed amount of $26 million for the Emory Beacon Center Project. The Council approves the proposed revenue bond financing.

 

Sec. 3.  Transmittal.

The Council shall transmit a copy of this resolution, upon its adoption, to the Mayor and the District of Columbia Housing Finance Agency.

 

Sec. 4. Fiscal impact statement.

The Council adopts the fiscal impact statement of the Chief Financial officer as the fiscal impact statement required by section 4a of the General Legislative Procedures Act of 1975, approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a).

 

Sec. 5. Effective date.

This resolution shall take effect immediately.