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TEFRA Hearing for Orange County School of the Arts and The Legacy Fund <br /> June 2, 2026 <br /> Page 3 <br /> at OCSA's campus in Santa Ana (OCSA Locations) in an amount not expected to <br /> exceed $31,000,000; <br /> b. refinance a taxable loan the proceeds of which were utilized to finance a working <br /> capital deficit of OCSA (occurring at the OCSA Locations) in an amount not <br /> expected to exceed $9,000,000; and <br /> c. finance capital educational facilities including equipment to be located at the <br /> OCSA Locations in an amount not expected to exceed $6,000,000. <br /> The Legacy Fund and OCSA will be solely responsible for the repayment of the loans <br /> from CEDA and F&M. The adoption of the Resolution shall not obligate the City or any <br /> department thereof to: <br /> (i) provide any financing to acquire or construct the project on behalf of OCSA; <br /> (ii) approve any application or request for, or take any other action in connection <br /> with, any planning approval, permit, or other action necessary to the project; <br /> (iii) make any contribution or advance any funds whatsoever to CEDA; or <br /> (iv) take any further action with respect to CEDA or its membership therein. The <br /> City is a member of CEDA and has previously approved financings issued <br /> through CEDA. <br /> FISCAL IMPACT <br /> Funds in the amount of$820 were deposited into the General Fund revenue account for <br /> the TEFRA Hearing Fee — Non-Housing Project (No. 01102002-53902). <br /> EXHIBIT(S) <br /> 1. Resolution <br /> 2. Hearing Notice Proof of Publication <br /> Submitted By: Michael L. Garcia, Executive Director, Community Development Agency <br /> Approved By: Alvaro Nunez, City Manager <br />