TEFRA PUBLIC HEARING
AURORA SANTA ROSA HOSPITAL
1265 THROUGH 1287 FULTON ROAD
2598 GUERNEVILLE ROAD
City Council Meeting
January 10, 2023
Angela Morgan
Program Specialist II
Housing and Community Services
1 TEFRA PUBLIC HEARING
Jurisdictions are required to hold a public
hearing and receive public comment.
Jurisdictions are required to approve bond
issuance prior to an award by the state.
Tax Equity and Fiscal Responsibility Act of
1982 (“TEFRA”) and Internal Revenue Code.
No fiscal impact on the General Fund - all
financial costs and repayment obligations are
the responsibility of the borrower.
2 SITE / PROJECT
Existing Mental Health Facility
3 Aurora Santa Rosa
Hospital
1287 Fulton Road
2598 Guerneville Road
1265 Fulton Road
SITE PROJECT
To preserve 95 existing beds with capacity
up to 144 beds post acquisition
40 beds dedicated for adolescents
Mental health treatment services for
adolescents and adults
4 PREVIOUS APPROVALS
On November 16, 2021,City Council held a
public hearing and approved the issuance of
bond financing from CMFA.
Project experienced COVID-19 pandemic
related delays in obtaining hospital licensing
and was unable to close on bond financing.
A new TEFRA Public Hearing and City
Council approval is required, if issuance of
bonds is not obtained within one year from
initial approval.
5 RECOMMENDATION
It is recommended by the Housing and Community Services Department that the Council: 1) conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act of 1982 and the Internal Revenue Code of 1986, as amended; and 2) by resolution, approve the issuance of tax exempt 501(c)(3) revenue bonds by the California Municipal Finance Authority in an aggregate amount not to exceed $465 million to finance the acquisition, construction, renovation and/or equipping of the Aurora Santa Rosa Hospital, a mental health facility, located at 1265 through 1287 Fulton Road and 2598 Guerneville Road, Santa Rosa.
6 QUESTIONS?
7