HomeMy WebLinkAbout2022-040 - Rental Project for Westview HouseRESOLUTION NO.2022-040
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING THE ISSUANCE BY THE
CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT
AUTHORITY OF EXEMPT FACILITY BONDS FOR A
QUALIFIED RESIDENTIAL RENTAL PROJECT FOR
WESTVIEW HOUSE
WHEREAS, Westview House LP, a California limited partnership (the "Borrower")
ora partnership of which Community Development Partners (the "Developer") ora related
person to the Developer is the general partner, has requested that the California
Statewide Communities Development Authority (the "Authority") adopt a plan of financing
providing for the issuance of exempt facility bonds for a qualified residential rental project
pursuant to Section 142(a)(7) of the Internal Revenue Code of 1986 (the "Code") in one
or more series issued from time to time, including bonds issued to refund such exempt
facility bonds in one or more series from time to time, and at no time to exceed
$45,000,000 in aggregate principal amount (the "Bonds"), to finance or refinance the
acquisition, construction, improvement and equipping of a multifamily rental housing
project located at 2530 & 2534 Westminster Avenue, Santa Ana, California (the "Project');
and
WHEREAS, pursuant to Section 147(f) of the Code, the issuance of the Bonds by
the Authority must be approved by the "applicable elected representative" of the
governmental units on whose behalf such bonds are expected to be issued and by a
governmental unit having jurisdiction over the entire area in which any facility financed by
such bonds is to be located, after a public hearing held following reasonable public notice;
and
WHEREAS, the members of the City Council of the City of Santa Ana (the "City
Council') are the elected legislative members of the City and are one of the "applicable
elected representatives" required to approve the issuance of the Bonds under Section
147(f) of the Code; and
WHEREAS, the Authority has requested that the City Council approve the
issuance of the Bonds by the Authority in order to satisfy the public approval requirement
of Section 147(f) of the Code and the requirements of Section 9 of an Amended and
Restated Joint Exercise of Powers Agreement, dated as of June 1, 1988 (the
"Agreement'), among certain local agencies, including the City; and
WHEREAS, pursuant to Section 147(f) of the Code, the City Council has, following
notice duly given, held a public hearing regarding the issuance of the Bonds, and now
desires to approve the issuance of the Bonds by the Authority;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SANTA ANA AS FOLLOWS:
Section 1. The above recitals are true and correct.
Section 2. The City Council hereby approves the issuance of the Bonds by the
Authority. It is the purpose and intent of the City Council that this resolution constitute
approval of the issuance of the Bonds by the Authority, for the purposes of (a) Section 147(f)
of the Code by the applicable elected representative of the governmental unit having
jurisdiction over the area in which the Project is located, in accordance with said Section
147(f) and (b) Section 9 of the Agreement.
Section 3. The issuance of the Bonds shall be subject to approval of the Authority
of all financing documents relating thereto to which the Authority is a party. The City shall
have no responsibility or liability whatsoever with respect to repayment or administration of
the Bonds.
Section 4. The adoption of this Resolution shall not obligate the City or any
department thereof to: (i) provide any financing with respect to the Project; (ii) approve any
application or request for or take any other action in connection with any planning approval,
permit or other action necessary with respect to the Project; (iii) make any contribution or
advance any funds whatsoever to the Authority; or (iv) take any further action with respect
to the Authority or its membership therein.
Section 5. The City Manager and applicable Executive Directors of the City are
hereby authorized and directed, jointly and severally, to do any and all things and to execute
and deliver any and all documents that they deem necessary or advisable in order to carry
out, give effect to and comply with the terms and intent of this resolution and the financing
approved hereby.
Section 6. This resolution shall take effect immediately upon adoption.
ADOPTED this 17th day of May. 2022.
Vicente Sarmiento
Mayor
APPROVED AS TO FORM:
Sonia R. Carvalho, City Attorney
By: A .
Ryan O. Hodge
Q�qn Assistant City Attorney
AYES: Councilmembers
NOES: Councilmembers
ABSTAIN: Councilmembers
Hernandez, Lopez Mendoza Phan
Penaloza, Bacerra, Sarmiento (7)
None (0)
None (0)
NOT PRESENT: Councilmembers None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, Daisy Gomez, Clerk of the Council, do hereby attest to and certify the attached
Resolution No. 2022-040 to be the original Resolution adopted by the City Council of
the City of Santa Ana on May 17, 2022.
Date: Z� N
Dais Gomez
Clerk of the ouncil
City of Santa Ana