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Community Development Agency <br />www.santa-ana.org/cd <br />Item # 22 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br />Staff Report <br />May 6, 2025 <br />TOPIC: Tax Equity Fiscal Responsibility Act (TEFRA) Resolution Hearing for Estrella <br />Springs Apartments at 1108 North Harbor Boulevard, Santa Ana <br />AGENDA TITLE <br />Approve the Tax Equity Fiscal Responsibility Act (TEFRA) Resolution Hearing for North <br />Harbor Housing Partners LP (the "Borrower") a Partnership of which Jamboree Housing <br />Corporation (the "Developer"), Consisting at Least the Developer or a Related Person to <br />the Developer and One or More Limited Partners <br />Legal Notice published in the OC Reporter on April 25, 2025 <br />RECOMMENDED ACTION <br />1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing in <br />consideration of the issuance of tax exempt bond financing by the California <br />Municipal Finance Authority (the "CMFA") on behalf of North Harbor Housing <br />Partners LP (or the "Borrower"), for the benefit of Estrella Springs Apartment, FKA <br />North Harbor Village Apartments (the "Project") to finance or refinance the <br />acquisition, construction, improvement and equipping of Estrella Springs, a <br />multifamily rental housing project located at 1108 North Harbor Boulevard, Santa Ana <br />(the "Project"). <br />2. Adopt a resolution approving the issuance of revenue bonds by the CMFA in an <br />amount not to exceed $30,000,000 to finance or refinance the acquisition, <br />construction, improvement and equipping of a multifamily rental housing project <br />located at 1108 North Harbor Boulevard, Santa Ana, California (the "Project"). <br />RESOLUTION NO. 2025-XXX entitled A RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF SANTA ANA APPROVING THE ISSUANCE BY THE CALIFORNIA <br />MUNICIPAL FINANCE AUTHORITY OF EXEMPT FACILITY BONDS FOR <br />ESTRELLA SPRINGS <br />3. Preauthorize the City Manager to execute a future Subordination Agreement with JP <br />Morgan Chase Bank, N.A. for the City's Community Development Block Grant loan <br />agreement with North Harbor Housing Partners LP. <br />GOVERNMENT CODE §84308 APPLIES: Yes <br />