CITY COUNCIL MEETING
APRIL 2, 2024
PRESENTATIONS
PRESENTATION
WORK SESSION
ITEM #6
WS 24‐007
Community Agency Funding:
Fiscal Year 2025 Community Agency Funding
Recommendations for Services, Arts & Music, and
Economic Development and Infrastructure and Overview
of the FY 2025 Annual Action Plan
FY 2025 Community Agency Funding
Recommendations & Annual Action Plan
City Council Work Session, April 2, 2024
Amy Cole-Bloom, Community Services Manager
Emily Hwang, Management Analyst
Hayward Police Department Year-End Report
2 FY 2025 Annual Action Plan
• Framework for identifying housing and community
development needs and priorities through community
engagement
• Guides the City’s federal CDBG entitlement investment decisions for FY25
• Priority needs:
• Expand & Improve Public Infrastructure & Facilities
• Preserve, Protect, and Produce Housing Stock
• Public Services & Quality of Life Improvements
• Economic Development
Hayward Police Department Year-End Report
3 Funding Recommendations
Economic Development/Infrastructure (CDBG)
Economic Development
and Infrastructure (CDBG)
• Fully funded 5 agencies
• Partial funding for 3 agencies
• Did not recommend funding to St.
Rose and WeeCare dba Upwards
• Amendment to Home Rehabilitation
due to vendor changes
Discussion Process: Economic
Development and Infrastructure
1. Clarifying questions on
ED/Infrastructure
recommendations from Council
2. Public comment
3. Council discussion
Hayward Police Department Year-End Report
4 Funding Recommendations
Services and Arts & Music
• Fully funded 10
agencies
• Partial funding to 9
agencies
• Did not recommend
funding to 1 agency
• Fully funded 7
agencies up to their
funding caps
• Partial funding for 1
agencies
• No funding to 1 agency
Social Services
(General Fund)
Arts & Music
(General Fund)
Public Services
(CDBG)
• Fully funded 4 agencies
up to their funding caps
• Partial funding for 6
agencies
• Did not recommend
funding to 1 agency
Hayward Police Department Year-End Report
5 Discussion & Next Steps
Discussion Process Next Steps
1. Clarifying questions from
Council on:
• Services and Arts & Music
recommendations, and
• the Annual Action Plan
2. Public comment
3. Council discussion
• April 1, 2024 – May 2, 2024: Public
Comment Period
Submit comments to Emily Hwang at
[email protected]
• Tuesday, April 23, 2024:
Public Hearing
• Friday, May 15, 2024: FY 2025
Annual Action Plan submission
PRESENTATION
PUBLIC HEARING ITEM #7
PH 24‐018
Hayward Hangars Project TEFRA Hearing:
Public TEFRA Hearing as Required by the Internal
Revenue Code of 1986, and Adoption of a Resolution
Approving the Issuance of Industrial Revenue Bonds by
the California Public Finance Authority in an Amount Not‐ to‐Exceed $5,253,000 to Finance or Refinance the
Construction Improvement of the Hayward Executive
Airport Located at 20995‐22049 Skywest Drive, Hayward,
California (Report from Director of Finance Gonzales)
Public Finance Authority
Industrial Revenue Bonds:
Hayward Hangars Project
TEFRA Hearing
Nicole Gonzales, Director of Finance
Why are we here?
The Tax and Equity Fiscal Responsibility Act (TEFRA) and Internal Revenue Code of 1986 requires an agency who will act as a conduit hold a public hearing. Prior to the issuance of bonds.
Hayward Hangars LLC has requested the City to hold the hearing so they have the ability to issue Industrial Revenue Bonds by the California Public Finance Authority in an Amount Not-to-Exceed $5,253,000 to Finance or Refinance the Construction Improvement of the Hayward Executive Airport; a portion of which would be tax- exempt (an amount not-to-exceed $3,361,000)
The issuance of bonds are not the liability of the City in any way shape or form
Issuance does not impact the City’s credit rating
The City of Hayward’s Role
For all or a portion of the Bonds to qualify as tax-exempt bonds, the Internal Revenue Code (the “Code”) requires, as it applies here:
A public hearing (the “TEFRA Hearing”) by the applicable elected representative (“AER”) of the governmental unit having jurisdiction over the area in which the Project is located following public notice; and
Following the TEFRA Hearing, approval by the AER of the issuance of the Bonds to finance the Project
In this case, the AER is the City Council
The Resolution before the City Council would constitute such approval for purposes of the Code
Repayment of the Bonds will solely be the liability of the Company; the City will have no financial, legal, moral obligation, liability, or responsibility for the Project or the repayment of the Bonds
All related financing documents will contain disclaimers that the Bonds are not obligations of the City, but are to be paid for solely from funds provided by applicant
Hayward Hangars Project
Construction, furnishing, and equipping of eight (8) box hanger units
Refinancing certain outstanding lines of credit, loans and promissory notes of the Borrower
Financing, as needed for amounts required for reserves, capitalized interest, costs of issuance and other financing expenses related to the issuance of the Bonds
Council Recommendation…
Conduct a Public Hearing to consider the issuance of Tax- Exempt Industrial Revenue Bonds, Series 2024, by the California Public Finance Authority to assist with financing and/or refinancing of the Hayward Hangers Project
Adopt a resolution approving the issuance on Industrial Revenue Bonds by the Authority to benefit the Hayward Hangers, LLC to provide financing and/or refinancing in aggregate principal in the amount not-to-exceed $5,253,000, of which the tax-exempt portion in an amount not-to-exceed $3,361,000
Questions & Council
Consideration of
Resolution