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:
Approving the Issuance of Exempt Facility Bonds for the Acquisition, Construction, and Equipping of the Otay Ranch II Affordable Housing Project and Certain Other Matters Relating Thereto.
HEARING INFORMATION
Date and Time: May 19, 2026 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
At the above stated time, as required by Section 147(f) of the Internal Revenue Code of 1986 (the Code), the City Council of the City of Chula Vista will hear and consider information concerning a proposed plan of financing providing for the issuance by the California Municipal Fi nance Authority (the CMFA) of exempt facility bonds for a qualified residential rental project pursuant to Section 142(a)(7) of the Code in one or more series from time to time, in an aggregate principal amount not to exceed $80,000,000 (the Bonds). The pr oceeds of the Bonds will be used to: (1) finance or refinance the acquisition, construction, improvement, and equipping of Otay Ranch II, a multifamily rental housing project located at the northwest corner of State Route 125 and Rock Mountain Road, Chula Vista, California; and (2) pay certain expenses incurred in connection with the issuance of the Bonds. The facilities are to be owned by Otay Affordable II V8, LP (the Borrower), or a partnership of which Meta Development, LLC (the Developer) or a related person to the Developer is a 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 CMFA, the City of Chula Vista, the S tate 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 obligation 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 meeting 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.