CITY OF RIVERSIDE
NOTICE OF PUBLIC HEARING
RESIDENTIAL RENTAL PROJECT
2560 MULBERRY STREET
NOTICE IS HEREBY GIVEN that on March 25, 2025, 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 that includes the issuance and reissuance from time to time, by the of the California Municipal Finance Authority (the “Authority”) of one or more series of revenue bonds in an outstanding principal amount not to exceed $65,000,000 (the “Bonds”), to finance and refinance the acquisition, construction, development and equipping of a 150-unit qualified residential rental project located at 2560 Mulberry Street (the “Project”) in the City of Riverside, California (the “City”). The Project is to be owned and operated by Mulberry Gardens Family, L.P., a California limited partnership, or by another ownership entity to be created by its general partner, Mulberry Gardens Family LLC, a California limited liability company, or by another affiliate of such general partner’s sole member, Eden Housing, Inc., a California nonprofit corporation (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 respect 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 credit 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.
The Public Hearing will be held by the City Council on the following date:
DATE AND TIME: March 25, 2025, at 3:00 p.m.
LOCATION: Art Pick Council Chamber, 3900 Main Street, Riverside, CA 92522 View live Webcast at www.RiversideCa.gov/Meeting
Interested persons wishing to express their views on the proposed plan of finance or on the nature and location of the facilities proposed to be financed may attend the hearing. Public comments are limited to three minutes per person. Persons unable to attend the hearing may send written comments to: City Clerk, City Hall, 3900 Main Street, Riverside, CA 92522, prior to March 25, 2025, or email [email protected]. Comments via the eComment feature at www.RiversideCa.gov/Meeting may be submitted until 11 a.m. on March 25, 2025. For questions relating to the proceedings, or any particulars, please contact the City Clerk’s Office at [email protected] or City Clerk, City of Riverside, 3900 Main Street, Riverside, CA 92522.
If you challenge any of the above proposed actions in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Clerk of the City of Riverside at, or prior to, the public.
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DONESIA GAUSE
City Clerk of the City of Riverside
Dated and Published: March 11, 2025