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MOTION: Martinez SECOND: Solorio <br />VOTE: AYES: Benavides, Martinez, Sarmiento, Solorio, Villegas <br />(5) <br />NOES: None (0) <br />ABSTAIN: Pulido(1) <br />ABSENT: Tinajero (1) <br />"Mayor Pulido, abstained on vote due to prior business dealings with Vanir <br />Construction Management, Inc. <br />PUBLIC HEARING <br />75A. ISSUANCE OF TAX EXEMPT BONDS FOR THE BENEFIT OF SANTA ANA <br />ARTS COLLECTIVE, L.P. AND RESOLUTION APPROVING THE ISSUANCE <br />OF BONDS; TAX EQUITY AND FINANCIAL RESPONSIBILITY ACT (TEFRA) <br />(STRATEGIC PLAN NO. 5, 3) - Community Development Agency <br />Legal Notice published in the Orange County Reporter on March 20, 2017. <br />Mayor Pulido opened the Hearing. There were no speakers and the Hearing <br />closed. <br />MOTION; <br />1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing <br />in consideration of the issuance of tax exempt bond financing by the <br />California Municipal Finance Authority on behalf of the Santa Ana Arts <br />Collective, L.P., for the benefit of for the acquisition, construction, <br />improvement and equipping of a 58-unit affordable multifamily rental <br />housing facility to be owned and operated by the Borrower and located <br />at 1666 North Main Street within the City of Santa Ana. <br />2. Adopt a resolution. <br />RESOLUTION NO. 2017-014 - RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF SANTA ANA APPROVING THE ISSUANCE OF REVENUE <br />BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY IN AN <br />AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $10,000,000 TO <br />FINANCE A 58-UNIT AFFORDABLE MULTIFAMILY RENTAL FACILITY <br />FOR THE BENEFIT OF SANTA ANA ARTS COLLECTIVE, L.P., OR <br />ANOTHER ENTITY TO BE FORMED BY META HOUSING CORPORATION <br />AND/OR WESTERN COMMUNITY HOUSING, INC. (OR AN AFFILIATE OF <br />EITHER) AND CERTAIN OTHER MATTERS RELATING THERETO <br />MOTION: Benavides SECOND: Solorio <br />CITY COUNCIL MINUTES 15 APRIL 4, 2017 <br />10A-15 <br />