RES-2008-216RESOLUTION NO. 2008 -216
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM PURSUANT TO SECTION 147(1) OF THE
INTERNAL REVENUE CODE OF 1986 AUTHORIZING
AND APPROVING THE ISSUANCE OF BONDS BY THE
ANAHEIM HOUSING AUTHORITY FOR THE LINCOLN
ANAHEIM PHASE B PROJECT
WHEREAS, the Anaheim Housing Authority (the "Authority intends to issue
not to exceed $25,000,000 aggregate principal amount of multifamily housing revenue bonds
(the "Bonds to finance the acquisition and development of a 74 -unit multifamily rental housing
development known generally as "Lincoln Anaheim Phase B," located at 1275 -1287 East
Lincoln Avenue in the City of Anaheim "City described in the notice of public hearing
attached as Exhibit A hereto (the "Project and
WHEREAS, the Project is the second phase of a 146 -unit multifamily rental
housing development to be constructed and operated as one consolidated housing development;
and
WHEREAS, in order for interest on the Bonds to be tax exempt, Section 147(0 of
the Internal Revenue Code of 1986 requires that the Bonds be approved by the City Council as
the applicable elected representatives after a public hearing following reasonable public notice;
and
WHEREAS, notice of a public hearing with respect to the proposed issuance of
the Bonds was published in a newspaper of general circulation in the City on December 1, 2008;
and
WHEREAS, the public hearing was held on December 16, 2008, and an
opportunity was provided for interested persons to express their views on the issuance of the
Bonds and on the nature and location of the Project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The City does not warrant the creditworthiness of the Bonds or
guarantee, in any way, the payment of the Bonds. No moneys of the City will be pledged or
applied to the repayment of the Bonds.
Section 2. This City Council, as the applicable elected representatives under
Section 147(0 of the Code, approves the issuance of the Bonds by the Authority.
F. \DOCS\ADMIN\STAFFREP\ASS8CO2B Attachment to Related TEFRA StaffReport.DOC
THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE
CITY COUNCIL OF THE CITY OF ANAHEIM THIS SIXTEENTH (16TH) DAY OF
DECEMBER, 2008, BY THE FOLLOWING ROLL -CALL VOTE:
AYES:
NOES:
ABSTAIN:
ABSENT:
CITY CLERK
APPROVED AS TO FORM:
STRADLING YOCCA CARLSON RAUTH,
as Bond Counsel
By:
APPROVED AS TO FORM:
JACK L. ,.ice ITY ATTORNEY
JOHN OODHEAD, IV
Assista t ity Attorney
F. DOCSlADMINSTAFFREP'WSS8CO2R Attachment to Related TEFRA Staff Report.DOC
e 4644#4"
MAYOR
THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE
CITY COUNCIL OF THE CITY OF ANAHEIM THIS SIXTEENTH (16TH) DAY OF
DECEMBER, 2008, BY THE FOLLOWING ROLL -CALL VOTE:
AYES:
NOES: NONE
ABSTAIN: NONE
ABSENT: NoNE
ATTEST:
CITY CLERK
APPROVED AS TO FORM:
STRADLING YOCCA CARLSON RAUTH,
as Bond Counsel
Bv:
APPR I ED AS TO FO
JACK L. TE, CITY AT i RNEY
Mayor Pringle, Council Members Hernandez, Sidhu, Galloway, Kring
F:\DOCS ADMIN\STAFFREP\ASS8CO2B Attachment to Related TEFRA StaffReport.DOC
did.4
MAYOR
EXHIBIT A
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council of the City of Anaheim on
Tuesday, December 16, 2008, at the hour of 5:00 p.m. at City Council Chambers, 200 South
Anaheim Boulevard, Anaheim, California 92802, will hold a public hearing in accordance with
Section 147(0 of the Internal Revenue Code of 1986 with respect to the proposed issuance by the
Anaheim Housing Authority of its multifamily housing revenue bonds in an aggregate principal
amount not to exceed $25,000,000, in order to finance the acquisition and development of the
multifamily rental housing project described below:
Name:
Location:
Number of Units:
Maximum Bond Amount:
The owner or operator of the Project will be Lincoln Anaheim II Housing Partners, L.P., a
California limited partnership (the "Owner A total of 74 units in the project are to be income
and rent restricted with 49 units to be occupied by very low income tenants at affordable rents,
24 units to be occupied by low- income tenants at affordable rents, and one unit to be occupied by
an on -site property manager.
Notice is further given that at said hearing, all interested parties will have an
opportunity to be heard on the question of whether or not such multifamily housing revenue
bonds should be issued. If you have any questions regarding the public hearing, please contact
Abby Semblantes, Project Manager, Anaheim Housing Authority, (714) 765 -4467.
Dated: December 1, 2008
Lincoln Anaheim Phase B
1275 -1287 E. Lincoln Avenue, Anaheim, CA
74
$25,000,000
THE CITY COUNCIL OF THE CITY OF
ANAHEIM
Name:
Location:
Number of Units:
Maximum Bond Amount:
Dated: December 1, 2008
EXHIBIT A
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council of the City of Anaheim on
Tuesday, December 16, 2008, at the hour of 5:00 p.m. at City Council Chambers, 200 South
Anaheim Boulevard, Anaheim, California 92802, will hold a public hearing in accordance with
Section 147(0 of the Internal Revenue Code of 1986 with respect to the proposed issuance by the
Anaheim Housing Authority of its multifamily housing revenue bonds in an aggregate principal
amount not to exceed $25,000,000, in order to finance the acquisition and development of the
multifamily rental housing project described below:
Lincoln Anaheim Phase B
1275 -1287 E. Lincoln Avenue, Anaheim, CA
74
$25,000,000
The owner or operator of the Project will be Lincoln Anaheim II Housing Partners, L.P., a
California limited partnership (the "Owner A total of 74 units in the project are to be income
and rent restricted with 49 units to be occupied by very low income tenants at affordable rents,
24 units to be occupied by low- income tenants at affordable rents, and one unit to be occupied by
an on -site property manager.
Notice is further given that at said hearing, all interested parties will have an
opportunity to be heard on the question of whether or not such multifamily housing revenue
bonds should be issued. If you have any questions regarding the public hearing, please contact
Abby Semblantes, Project Manager, Anaheim Housing Authority, (714) 765 -4467.
THE CITY COUNCIL OF THE CITY OF
ANAHEIM