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Mater Dei High School — TEFRA Hearing <br />November 21, 2017 <br />Page 2 <br />eminent domain involved) of the 19 homes through California Property Specialists, Inc. (CPSI). <br />In addition, the school completed a full Environmental Impact Report and proposed additional <br />modifications to the development agreement, which were unanimously recommended for <br />approval by the Planning Commission. In May 2016, the City Council also voted to approve this <br />project. <br />To date, Mater Dei has purchased 17 of the 19 homes (demolished 15 of them for temporary <br />surface parking use by the Mater Dei High School students for the current school year). Per <br />Mater Dei, they have reached an agreement in principle on the financial terms for the purchase of <br />the final 2 homes and are about to enter escrow shortly on homes #18 and #19. It is Mater Dei's <br />goal and plan to begin construction on the proposed MDHS Parking Structure in May 2018 and <br />open it to student parking for the beginning of the 2019-20 school year in August 2019. <br />The requested City of Santa Ana TEFRA approval will allow the tax exempt loan to Mater Dei in <br />order for Mater Dei to undertake the construction of the parking garage. <br />DISCUSSION <br />The proceeds of the Bonds will be used by the Borrower, for the benefit of the School, pursuant to <br />a plan of financing for: (1) the Project, as defined below, and (2) the payment of costs of issuance <br />and certain interest with respect to the Bonds. <br />The term "Project" means financing all or any portion of the costs of design, construction, <br />installation, improvement, furnishing, and/or equipping of a new approximately 990 space parking <br />structure (the "Parking Facility") on property owned or to be owned by the Borrower for the use <br />and benefit of the School, whose address is 1202 West Edinger Avenue, Santa Ana, California <br />92707 (the "Campus"). All or a portion of the Parking Facility will be located on the following <br />parcels of land, which form part of or will form a part of the Campus (and which the School <br />anticipates will be consolidated into one or more larger legal parcels): <br />75A-2 <br />APN <br />Address <br />city <br />State <br />Zip <br />1 <br />013-224-06 <br />1127 W. <br />Berkeley Street Santa Ana <br />CA <br />92707 <br />2 <br />013-226-07 <br />1126 W. <br />Occidental Street Santa Ana <br />CA <br />92707 <br />3 <br />013-226-08 <br />1130 W. <br />Occidental Street Santa Ana <br />CA <br />92707 <br />4 <br />013-225-07 <br />1131 W. <br />Occidental Street Santa Ana <br />CA <br />92707 <br />5 <br />013-225-08 <br />1135 W. <br />Occidental Street Santa Ana <br />CA <br />92707 <br />6 <br />015-220-16 <br />1125 W. <br />Saint Andrew Place Santa Ana <br />CA <br />92707 <br />7 <br />015-220-15 <br />1129 W. <br />Saint Andrew Place Santa Ana <br />CA <br />92707 <br />8 <br />015-220-14 <br />1133 W. <br />Saint Andrew Place Santa Ana <br />CA <br />92707 <br />9 <br />015-220-13 <br />1137 W. <br />Saint Andrew Place Santa Ana <br />CA <br />92707 <br />10 <br />013-225-13 <br />1126 W. <br />Berkeley Street Santa Ana <br />CA <br />92707 <br />11 <br />013-225-12 <br />1130 W. <br />Berkeley Street Santa Ana <br />CA <br />92707 <br />75A-2 <br />