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File Number: 12 -167 <br />the community, including seniors, disabled individuals, single parents, large families, and the <br />homeless. <br />Summary of Public Outreach Efforts <br />Prior to a TEFRA hearing, reasonable notice must be provided to members of the community <br />for an opportunity to speak in favor of or against the use of tax - exempt bonds. Legal <br />requirements for notification of this meeting included notice in the Daily Review, a paper of <br />general circulation, 23 days prior to the hearing and posting of the meeting agenda at City Hall <br />a minimum of 72 hours in advance of the meeting date. <br />Fiscal Impacts <br />The Board of Directors of the California Foundation for Stronger Communities, a California <br />non - profit public benefit corporation (Foundation), acts as the Board of Directors for the <br />CMFA. Through its conduit issuance activities, the CMFA shares a portion of the issuance <br />fees it receives with its member communities and donates a portion of these issuance fees to <br />the Foundation for the support of local charities. With respect to the City, it is expected that <br />CMFA will grant 25% of the issuance fee to the general fund. Such grant may be used for any <br />lawful purpose of the City. The Borrower will be the beneficiary of the CMFA's charitable <br />donation through a 25% reduction in issuance fees. <br />There are no costs associated with membership in the CMFA, and the City will in no way <br />become exposed to any financial liability by reason of its membership in the CMFA. In <br />addition, participation by the City in the CMFA will not impact the City's appropriations limits <br />and will not constitute any type of indebtedness by the City. <br />ATTACHMENTS <br />• Joint Exercise of Powers Agreement <br />PREPARED BY: Jean Hom, Housing Specialist II, Community Development Department, <br />Housing Services Division <br />City of San Leandro Page 3 Printed on 411012012 <br />