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RES-2026-038RESOLUTION NO. 2 0 2 6- 0 3 8 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM APPROVING THE ISSUANCE OF CERTAIN CALIFORNIA MUNICIPAL FINANCE AUTHORITY EXEMPT FACILITY BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $25,000,000 FOR THE PURPOSE OF FINANCING OR REFINANCING OF THE ACQUISITION BY GROUND LEASE, SUBSTANTIAL REHABILITATION, IMPROVEMENT, EQUIPPING, AND OPERATION OF HERMOSA VILLAGE PHASE III AFFORDABLE HOUSING PROJECT; AND MAKING CERTAIN OTHER FINDINGS RELATED THERETO WHEREAS, the City of Anaheim ("City") is a California municipal corporation and charter city, and the governing body of the City is the City Council of the City of Anaheim ("City Council'); and WHEREAS, the Anaheim Housing Authority ("Housing Authority") is a California housing authority duly organized and existing under the California Housing Authorities Law, Part 2 of Division 24, Section 34200, et seq., of the Health and Safety Code ("HAL"), and has been authorized to transact business and exercise the power of a housing authority pursuant to action of the City Council, and the City Council is the governing body of the Housing Authority pursuant to the HAL; and WHEREAS, the California Municipal Finance Authority ("CMFA") is a statewide joint powers authority and public entity formed by California cities, counties, and districts to finance public benefit projects including affordable housing, economic development, and infrastructure, acting as a conduit to issue tax-exempt bonds for local governments and non -profits; and WHEREAS, Hermosa Village Phase III Housing Partners, L.P. is a California limited partnership of which The Related Companies of California, LLC or an Affiliate person or entity to Developer is a general partner ("Borrower" or "Developer"); and WHEREAS, Developer has requested that CMFA adopt a plan of financing providing for the issuance of exempt facility bonds for a qualified residential rental project pursuant to Section 142(a)(7) of the Internal Revenue Code of 1986 ("Code") in one or more series issued from time to time, including bonds issued to refund such exempt facility bonds in one or more series from time to time, and at no time to exceed $25,000,000 in aggregate principal amount ("Bonds"), to (1) finance or refinance the acquisition by ground lease, substantial rehabilitation, improvement, equipping, and operation of a multifamily rental housing project referred to as "Hermosa Village Phase III", and (2) pay certain expenses incurred in connection with the issuance of the Bonds; and WHEREAS, Hermosa Village Phase III is an existing multifamily rental housing development located at and comprised of 112 apartments including one-, two- and three -bedroom units in sixteen (16) multifamily buildings located at the following common addresses: 1217 Lynne Avenue, 1309 Lynne Avenue, 1329 Lynne Avenue, 1513 S. Hampstead Street, 1525 S. Hampstead Street, 1543 S. Hampstead Street, 1614 S. Hampstead Street, 1619 S. Hampstead Street, 1620 S. Hampstead Street, 1630 S. Hampstead Street, 1624 S. Calle Del Sol, 1630 Calle del Sol, 1607 S. Calle Del Mar, 1613 S. Calle Del Mar, 1220 W. Cerritos Avenue, and 1500 S. Ninth Street, Anaheim, California (together, "HV III Properties" and "HV III Project"); and WHEREAS, the HV III Properties include 96 apartments located on land owned in fee by the Anaheim Housing Authority, a public body corporate and politic ("Housing Authority"), and sixteen (16) apartments located on land owned in fee by a third party; and WHEREAS, the Housing Authority and the third party, as separate ground lessors and landlords, and Developer, as ground lessee and tenant, desire and intend to enter into a separate Ground Leases for the HV III Properties to undertake the HV III Project; and WHEREAS, pursuant to Section 147(f) of the Code, the issuance of the Bonds by CMFA may be considered and approved by the City Council because the HV III Project is located within the territorial limits of the City; and WHEREAS, the City Council is the elected legislative body of the City and is one of the "applicable elected representatives" eligible to consider and approve the issuance of the Bonds under Section 147(f) of the Code; and WHEREAS, CMFA has requested that the City Council approve the issuance of the Bonds by CMFA in order to satisfy the public approval requirement of Section 147(f) of the Code and the requirements of Section 4 of that certain Joint Exercise of Powers Agreement Relating to the California Municipal Finance Authority, dated as of January 1, 2004 ("Agreement"), among certain local agencies, including the City; and WHEREAS, pursuant to the Code, notice of a public hearing with respect to the proposed issuance of the Bonds by CMFA was published in a newspaper of general circulation in the City on March 26, 2026; and WHEREAS, pursuant to Section 147(f) of the Code, the public hearing was held on April 21, 2026, continued from the April 7, 2026 City Council meeting, and an opportunity was provided for interested persons to express their views, whether in favor, neutral to, or opposed, about the issuance of the Bonds and on the nature and location of the HV III Project; and WHEREAS, the City Council now desires to approve the issuance of the Bonds by CMFA. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Anaheim: Section 1. The foregoing recitals are true, correct, and a substantive part of this Resolution. Section 2. The City Council hereby approves the issuance of the Bonds by CMFA. It is the purpose and intent of the City Council that this resolution constitute approval of the issuance of the Bonds by CMFA, for the purposes of (a) Section 147(f) of the Code by the applicable elected representatives of a governmental unit having jurisdiction over the area in which HV III Project is located, in accordance with said Section 147(f) and (b) Section 4 of the Agreement. Section 3. The issuance of the Bonds shall be subject to the approval of CMFA of all financing documents relating thereto to which CMFA is a party. Section 4. The City shall have no responsibility or liability whatsoever, financial, legal, or otherwise, with respect to the Bonds; and the Housing Authority shall have no responsibility or liability whatsoever, financial, legal, or otherwise, with respect to the Bonds. Section 5. The City does not warrant the creditworthiness of the Bonds or guarantee, in any way, the payment of the Bonds, expressly or impliedly. No moneys of the City will be pledged or applied to the repayment of the Bonds. Section 6. The adoption of this Resolution shall not obligate the City, the Housing Authority, or any department(s) thereof to (a) provide any financing to acquire or substantially rehabilitate the HV III Project or any refinancing of the HV III Project; (b) approve any application or request for or take any other action in connection with any planning approval, permit or other action necessary for the acquisition by ground lease, construction, substantial rehabilitation, equipping, installation, or operation of HV III Project; (c) make any contribution or advance any funds whatsoever to CMFA; or (d) take any further action with respect to CMFA or its membership therein. Section 7. The elected and appointed officials and officers of the City, including the City Manager, Director of Housing and Community Development, City Clerk, and other designated officials, are hereby authorized and directed, jointly and severally, to do and take any and all actions and to execute and deliver any and all documents that they deem necessary or advisable in order to carry out, give effect to, and comply with the terms and intent of this Resolution and the financing transaction approved hereby. Section 8. This Resolution shall become effective immediately upon adoption. Section 9. The City Clerk shall certify to the adoption of this Resolution. THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim on this 21 It day of April 2026, by the following roll call vote: AYES: Mayor Aitken and Council Members Leon, Balius, Kurtz, Maahs and Meeks NOES: None ABSENT: Council Member Rubalcava ABSTAIN: None CITY O OF THE CITY OF ANAHEIM OF THE W?T OF ANAHEIM CLERK'S CERTIFICATE STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, THERESA BASS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original Resolution No. 2026-038 adopted at a regular meeting provided by law, of the Anaheim City Council held on the 21 sc day of April, 2026 by the following vote of the members thereof: AYES: Mayor Aitken and Council Members Leon, Balius, Kurtz, Maahs and Meeks NOES: None ABSTAIN: None ABSENT: Council Member Rubalcava IN WITNESS WHEREOF, I have hereunto set my hand this 22nd day of April, 2026. CITY CLEW OF THE CITY OF ANAHEIM (SEAL)