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PH TEFRA - Town & Country <br />May 6, 2013 <br />Page 2 <br />provides for the members of the community an opportunity to comment on the use of tax-exempt <br />bonds for the refinancing of the project and adopt a resolution approving the issuance of bonds. <br />The bonds to be issued by the CMFA are the sole responsibility of the Town and Country Manor. <br />The City has no financial or legal liability for the project or repayment of the bonds and does not <br />constitute any type of indebtedness for the City. <br />In addition, Town and Country currently is in site plan review for an expansion of their project. <br />The developer anticipates that the project will start construction in 18-24 months. The expansion <br />of the project will come before the Planning Commission and City Council for approval within the <br />next 12-18 months. <br />FISCAL IMPACT <br />There are no fiscal or economic liabilities or obligations assumed or imposed upon the City of <br />Santa Ana as a result of the public hearing or the adoption of the resolution. <br />it' L-C <br />Sandi Gottlieb <br />Acting Executive Director <br />Community Development Agency <br />SG/SLB/kg <br />Exhibit: 1. Resolution <br />75C-2