Form Rev. 4/23/24
NOTICE OF PUBLIC HEARING
CITY COUNCIL
CITY OF CHULA VISTA
NOTICE IS HEREBY GIVEN that the City Council of the City of Chula Vista will conduct a public hearing to consider the following matter:
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA
APPROVING THE ISSUANCE OF THE CALIFORNIA MUNICIPAL
FINANCE AUTHORITY EXEMPT FACILITY BONDS FOR A QUALIFIED RESIDENTIAL PROJECT LOCATED AT 178 THIRD AVENUE, IN AN
AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $25,000,000, FOR
THE PURPOSE OF FINANCING OR REFINANC ING THE ACQUISITION,
CONSTRUCTION, IMPROVEMENT AND EQUIPPING OF THE PROJECT,
AND CERTAIN OTHER MATTERS RELATING THERETO
HEARING INFORMATION
Date and Time: August 13, 2024 at 5:00 p.m.
Location: Council Chambers, City Hall, 276 Fourth Avenue, Chula Vista
Public Testimony:
In-Person: Interested persons wishing to express their views on the matter described above will be given an opportunity to do so at the public hearing.
Written Comments: Comments may be mailed or delivered to: City of Chula Vista, C ity Clerk Kerry Bigelow, 276 Fourth Ave, Chula Vista, CA 91910. Comments must be received by the City Clerk before the close of the public hearing.
ADDITIONAL MATTER DETAILS
On August 13, 2024, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the "Code"), will be held with respect to a proposed plan of financing providing for the issuance by the California Municipal Finance Authority ( the "Authority") of exempt facility bonds for a qualified residential rental project pursuant to Section 142(a)(7) of 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, in an amount not to exceed $ 25,000,000 in aggregate principal amount (the "Bonds"). The proceeds of the Bonds will be used to: (1) finance or refinance the acquisition, construction, improvement and equipping of Chula Vista Seniors , a multifamily rental housing project located at 178 Third Avenue, Chula Vista, California; and (2) pay certain expenses incurred in connection with the issuance of the Bonds. The facilities are to be owned by C.V. Senior Housing Partners, L.P. (the "Borrower") or a partnership of which San Diego Interfaith Housing Foundation (the "Developer") or a related person to the Developer is the general partner.
The Bonds and the obligation to pay principal of and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of the Authority, the State of California or any political subdivision thereof, within the meaning of any constitutional or statutory debt limitation, or a charge against the general credit or taxing powers of any of them. The Bonds shall be a limited obliga tion of the Authority, payable solely from certain revenues duly pledged therefor and generally representing amounts paid by the Borrower.
The hearing will commence at 5:00 p.m. or as soon thereafter as the matter can be heard, and will be held in the City Council Chambers, 276 Fourth Avenue, Chula Vista, California. Interested persons wishing to express their views on the issuance of the Bonds or on the nature and location of the facilities proposed to be financed or refinanced may attend the public hearing or, prior to the time of the hearing, submit written comments.
ENVIRONMENTAL NOTICE
The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act (“CEQA”) State Guidelines. Therefore, pursuant to State Guide lines Section 15060(c)(3) no environmental review is required.
ACCESSIBLE PUBLIC MEETINGS
Written agenda materials in appropriate alternative formats, or disability-related modifications or accommodations, including auxiliary aids or services, to enable individuals with disabilities to participate in public meetings or services will be provided upon request. Please contact [email protected] or (619) 691 -5041 (California Relay Service is available for the hearing impaired by dialing 711) at least forty -eight hours in advance of the meetin g so that arrangements may be made.
NOTE
If you wish to challenge the City’s action on these matters in court, you may be limited to raising only those issues you or someone else raise at the public hearing described in this notice, or in written correspondence delivered to the Office of the City Clerk at or prior to the public hearing.