RES-2016-228RESOLUTION NO. 2016-228
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM PURSUANT TO SECTION 147(f) OF THE
INTERNAL REVENUE CODE OF 1986 APPROVING THE
ISSUANCE OF BONDS BY THE ANAHEIM HOUSING
AUTHORITY FOR THE MIRACLE TERRACE SENIOR
APARTMENTS
WHEREAS, the Anaheim Housing Authority (Authority) intends to issue not to
exceed $38,000,000 aggregate principal amount of multifamily housing revenue bonds (Bonds)
to finance the acquisition, rehabilitation and equipping of 178 -unit plus one manager's unit
senior multifamily rental housing development known generally as Miracle Terrace Senior
Apartments, located at 225 South Western Avenue in the City of Anaheim, California, described
in the notice of public hearing attached as Exhibit A hereto (Project); and
WHEREAS, in order for interest on the Bonds to be tax-exempt, Section 147(f) 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 November 3, 2016;
and
WHEREAS, the public hearing was held on November 22, 2016, 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(f) of the Code, approves the issuance of the Bonds by the Authority.
THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE
CITY COUNCIL OF THE CITY OF ANAHEIM THIS TWENTY SECOND (221h) DAY
OF NOVEMBER, 2016, BY THE FOLLOWING ROLL -CALL VOTE:
AYES• Mayor Tait and Council Members Kring, Murray, and Brandman
NOES: Council Member Vanderbilt
ABSTAIN: None
ABSENT: None
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APPROVED AS TO FORM:
STRADLING YOCCA CARLSON & RAUTH,
as Bond Counsel
By:
APPROVED AS TO FORM:
ATTORNEY
Theodore Rey )6vs, Esq.
Assistant City At ornev
VA
MAYOR
EXHIBIT A
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council of the City of Anaheim on
Tuesday, November 22, 2016, at the hour of 5:30 p.m. and will be held at City Council
Chambers, 200 South Anaheim Boulevard, Anaheim, California 92802, will hold a public
hearing in accordance with Section 147(f) 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 $38,000,000, in order to finance the
acquisition, rehabilitation and equipping of the senior multifamily rental housing project
described below:
Name: Miracle Terrace Senior Apartments
Location: 225 South Western Avenue, Anaheim, CA
Number of Units: 178 units plus One Manager's Unit
Maximum Bond Amount: $38,000,000
The owner or operator of the Project will be Miracle Terrace Community
Partners, LP, a California limited partnership (Owner), or an affiliate thereof. All but one
manager's unit in the Project are expected to be income and rent restricted and to be occupied by
low-income and very -low senior tenants at affordable rents.
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
Andy Nogal, Senior Project Manager, Anaheim Housing Authority, (714) 765-4368.
Dated: November 3, 2016
THE CITY COUNCIL OF THE CITY OF
ANAHEIM
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council of the City of Anaheim on
Tuesday, November 22, 2016, at the hour of 5:30 p.m. and will be held at City Council
Chambers, 200 South Anaheim Boulevard, Anaheim, California 92802, will hold a public
hearing in accordance with Section 147(f) 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 $38,000,000, in order to finance the
acquisition, rehabilitation and equipping of the senior multifamily rental housing project
described below:
Name: Miracle Terrace Senior Apartments
Location: 225 South Western Avenue, Anaheim, CA
Number of Units: 178 units plus One Manager's Unit
Maximum Bond Amount: $38,000,000
The owner or operator of the Project will be Miracle Terrace Community
Partners, LP, a California limited partnership (Owner), or an affiliate thereof. All but one
manager's unit in the Project are expected to be income and rent restricted and to be occupied by
low-income and very -low senior tenants at affordable rents.
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
Andy Nogal, Senior Project Manager, Anaheim Housing Authority, (714) 765-4368.
Dated: November 3, 2016
THE CITY COUNCIL OF THE CITY OF
ANAHEIM
CLERK'S CERTIFICATE
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LINDA ANDAL, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the
original Resolution No. 2016-228 adopted at a regular meeting provided by law, of the Anaheim
City Council held on the 22nd day of November, 2016, by the following vote of the members
thereof:
AYES: Mayor Tait and Council Members Kring, Murray, and Brandman
NOES: Council Member Vanderbilt
ABSTAIN: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand this 22nd day of November, 2016.
1A T46. ON
,1 FAR
(SEAL)