AHA2006/05/09
ANAHEIM, CALIFORNIA
ANAHEIM HOUSING AUTHORITY MEETING
May 9, 2006
The Anaheim Housing Authority met in regular session.
PRESENT: Chairman Curt Pringle, Authority Members: Richard Chavez, Lorri Galloway, Bob
Hernandez and Harry Sidhu
STAFF PRESENT: City Manager David Morgan, City Attorney Jack White, Secretary Sherytl
Schroeder.
A copy of the agenda for the meeting of the Anaheim Housing Authority was posted on May 5,
2006 at the City Hall outside bulletin board.
Chairman Pringle called the regular meeting to order at 5:46 P.M. in the Council Chambers of
Anaheim City Hall, 200 South Anaheim Boulevard.
ADDITIONS/DELETIONS TO THE AGENDA: None
PUBLIC COMMENTS: No comments offered during the joint Council/Housing Authority public
comment session related to the Anaheim Housing Authority.
CONSENT CALENDAR:
Authority Member Sidhu requested Item No. 1 be removed from the consent calendar to
emphasize the merits of the project to the public.
1. RESOLUTION NO. AHA-2006-001 A RESOLUTION OF THE ANAHEIM HOUSING
2743 AUTHORITY authorizing the execution and delivery of a First Supplement to the
Indenture of Trust, authorizing the execution and delivery of an Assignment and
Assumption Agreement and approving other related documents and other related
actions in connection therewith. (The Fountains at Anaheim Hills)
Elisa Stipkovich, Community Development Director, indicated this item was a request by the
property owner for the Housing Authority to approve the property sale and allow the new owner
to redeem Multifamily Housing Revenue bonds issued by the Housing Authority in 2000 to
provide financing for the acquisition and construction of 259 rental units (The Fountains) in
Anaheim Hills.
Authority Member Sidhu pointed out the Fountains development consisted of 259 rental units, of
which 130 would be affordable to persons at 50 to 80 percent of the median income and which
would remain affordable for 30 years. With the redemption of the tax bonds, he added the City
would receive approximately $300,000 based on what would have been collected as an annual
administration fee over the 30 year period of the bond issues commending staff for their actions.
Ms. Stipkovich remarked the new owner believed a better loan through conventional financing
would be possible but that the Housing Authority, as issuer of the bonds, must approve the sale
ANAHEIM HOUSING AUTHORITY MINUTES
May 9, 2006
Page 2
and transfer of obligations. Authority Member Sidhu moved to approve Resolution No. AHA
2006-001 of the Anaheim Housing Authority authorizing the execution and delivery of an
Assignment and Assumption Agreement; seconded by Authority Member Hernandez. Roll call
vote: Ayes - 5; Chairman Pringle, Authority Members: Chavez, Galloway, Hernandez and
Sidhu. Noes - O. Motion carried. .
Adjournment:
There being no further business, Chairman Pringle adjourned the Anaheim Housing Authority
Meeting at 6:10 P.M.
~,
I Sheryll Schroeder, CMC
Secretary, Anaheim Housing Authority