TEFRA PUBLIC HEARING
APPLE VALLEY SCATTERED SITE APARTMENTS
VARIOUS ADDRESSES ON PAPAGO COURT, WEST STEELE LANE,
APPLE VALLEY LANE, AND 1945 ZINFANDEL AVENUE
March 10, 2026
Housing and Community Services, Housing Trust Angela Morgan Program Specialist
Tax Equity and Fiscal Responsibility Act
(“TEFRA”), and Internal Revenue Code of 1986
• Jurisdictions are required to hold a public hearing and receive public comment.
• Jurisdictions are required to approve the bond issuance prior to an award by the state.
• No fiscal impact on the General Fund – all financial costs and repayment obligations are the responsibility of the borrower.
March 10, 2026
1 Background
Background
Project Site:
• 2820, 2822, 2824, 2826, 2828, 2830,
2832, 2834, 2836, 2838 Papago Court;
2459 & 2501 West Steele Lane; 2808,
2809, 2812, 2813, 2816, 2820, 2824,
2828, 2833, 2841, 2852, 2860, 2862,
2866, 2870, 2874 Apple Valley Lane
• Northwest Santa Rosa
• Built 1963 - 1965
March 10, 2026
2 Background
Project Site:
• 1945 Zinfandel Avenue
• Northwest Santa Rosa
• Built 2004
March 10, 2026
3 Background
232 Rental Housing Affordability and Unit Mix
• 48 units targeted to households with incomes up to 30% of Area Median Income (“AMI”), 1 unit targeted to households at 35% AMI, 1 unit targeted to households at 40% AMI, 63 units targeted to households at 50% AMI, 115 units targeted to households at 60%, and 4 unrestricted manager units. • 2 four-bedrooms, 45 three-bedrooms, 144 two-bedroom, 25 one- bedrooms, 12 studios, and 4 unrestricted manager units.
March 10, 2026
4 Recommendation
The Housing and Community Services Department recommends that the Council: 1) conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act and the Internal Revenue Code of 1986, as amended; and 2) by resolution, approve the issuance of exempt facility bonds by the California Municipal Finance Authority in an aggregate principal amount not to exceed $40 million to finance or refinance the acquisition, rehabilitation, improvement and equipping of Apple Valley Scattered Site Apartments, 2820, 2822, 2824, 2826, 2828, 2830, 2832, 2834, 2836, 2838 Papago Court; 2459 & 2501 West Steele Lane; 2808, 2809, 2812, 2813, 2816, 2820, 2824, 2828, 2833, 2841, 2852, 2860, 2862, 2866, 2870, 2874 Apple Valley Lane, and 1945 Zinfandel Avenue within the City of Santa Rosa. This item has no impact on current fiscal year budget.
March 10, 2026
5 Questions?