Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
CITY COUNCIL 22 December 20, 2022 <br />consideration of the issuance of tax exempt bond financing by the California Municipal Finance <br />Authority (the “CMFA”) on behalf of the Santa Ana Pacific Associates, L.P. to finance or <br />refinance the acquisition, construction, improvement and equipping of First Point Apartments I, <br />a multifamily rental housing project located at 2114 E. 1st Street, Santa Ana, California (the <br />“Project”). <br />2. Resolution No. 2022­108 – Adopt a resolution approving the issuance of revenue bonds by <br />the CMFA in an amount not to exceed $123,000,000 for the purpose of financing the Project. <br />MINUTES: Mayor Amezcua opened the Public Hearing at 10:00 P.M. <br />Director of Community Development Mike Garcia provided a brief presentation. <br />Mayor Amezcua inquired about handicapped parking in the proposed development. <br />Councilmember Phan recused herself from Public Hearing Item 42 out of an abundance of <br />caution as Jamboree Housing is a client of her employer, Rutan & Tucker. <br />Mayor Amezcua closed the public hearing at 10:14 PM. <br />Moved by Councilmember Hernandez, seconded by Councilmember Penaloza to <br />Approve the recommended actions. <br />YES: 5 – Councilmember Hernandez, – Councilmember Penaloza, – Councilmember Vazquez, – <br />Mayor Pro Tem Lopez, – Mayor Amezcua <br />NO: 0 <br />ABSTAIN: 1 – Councilmember Phan <br />ABSENT: 1 – Councilmember Bacerra <br />Status: 5 – 0 – 1 – 1 – Pass <br />43.Conduct a TEFRA Hearing for the First Point Apartments II and Accept a Resolution Approving <br />the Issuance by the California Municipal Finance Authority of Exempt Facility Bonds for a <br />Qualified Residential Rental Project <br />Legal Notice published in the Orange County Reporter on December 9, 2022. <br />Department(s): Community Development Agency <br />Recommended Action: 1. Conduct a Tax Equity and Financial Responsibility Act Hearing in <br />consideration of the issuance of tax exempt bond financing by the California Municipal Finance <br />Authority (the “CMFA”) on behalf of the Santa Ana Pacific Associates II, L.P. to finance or <br />refinance the acquisition, construction, improvement and equipping of First Point Apartments II, <br />a multifamily rental housing project located at 2110 E. 1st Street, Santa Ana, California (the <br />“Project”). <br />2. Resolution No. 2022­109 – Adopt a resolution approving the issuance of revenue bonds by <br />the CMFA in an amount not to exceed $90,000,000 for the purpose of financing the Project.