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:
Approve a Plan of Finance for the Issuance of Revenue Bonds by the California Municipal Finance Authority for the Teresina Apartments Affordable Housing Project, a 440-unit qualified residential rental project located at 1250 Santa Cora Avenue.
HEARING INFORMATION
Date and Time: December 17, 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, City 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
A public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 will be held with respect to a proposed plan of finance for the issuance and reissuance from time to time, by the California Municipal Finance Authority (the “Authority”), of one or more series of revenue bonds in an outstanding principal amount not to exceed $100,000,000 (the “Bonds”), to finance and refinance the acquisition, rehabilitation, improvement and equipping of a 440 -unit qualified residential rental project located at 125 0 Santa Cora Avenue (the “Project”) in the City of Chula Vista, California (the “City”). The Project is to be owned and operated by CASA Grande Investments I, LLC, a Delaware limited liability company, or by another ownership entity to be created by its member, Nuveen Alternatives Advisors LLC, a Delaware limited liability company (such limited partnership or other ownership entity, the “Borrower”).
The Bonds and the obligation to pay principal thereof and interest thereon and any redemption premium with re spect thereto do not constitute indebtedness or an obligation of the City, 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 c redit or taxing powers of any of them. The Bonds shall be limited obligations of the Authority, payable solely from certain revenues duly pledged therefor and generally representing amounts paid by the Borrower.
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 Guidelines 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.
PUBLICATION DATE: December 6, 2024.