RES-2019-095 RESOLUTION NO. 2019-095
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 ECONO LODGE APARTMENTS
WHEREAS, the Anaheim Housing Authority ("Authority") intends to issue not to
exceed $15,000,000 aggregate principal amount of multifamily housing revenue bonds
("Bonds") to finance the acquisition, rehabilitation and conversion of a 70-unit motel to a 69-unit
plus one manager's unit permanent supportive housing development known generally as "Econo
Lodge Apartments," located at 2691 West La Palma Avenue, in the City of Anaheim 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 July 18, 2019; and
WHEREAS, the public hearing was held on July 30, 2019, 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 credit worthiness 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, hereby approves the issuance of the Bonds by the Authority in one or
more series, in an aggregate principal amount not to exceed $15,000,000 and with a final maturity
not later than 45 years from the date of issuance to finance the acquisition, rehabilitation and
equipping of the Project. It is the purpose and intent of the City Council that this Resolution
constitute approval of the issuance of the Bonds by the applicable elected representatives of the
governmental unit having jurisdiction over the area in which the Project is located, in accordance
with said Section 147(f).
THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE
CITY COUNCIL OF THE CITY OF ANAHEIM THIS THIRTIETH (30th) DAY OF
JULY, 2019, BY THE FOLLOWING ROLL-CALL VOTE:
AYES: Mayor Sidhu and Council Members Kring, Barnes, Brandman,
Moreno, Faessel, and O'Neil
NOES: None
ABSTAIN: None
ABSENT: None
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CITY CLER I
APPROVED AS TO FORM:
STRADLING YOCCA CARLSON & RAUTH,
as Bond Counsel
By: y
APPROVED AS TO FORM:
OFFICE OF THE CITY1- ---
ATTORNEY
Leonie Mulvihill
Deputy City Attorney IV
2
EXHIBIT A
CITY OF ANAHEIM
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY given that the City Council of the City Anaheim will hold a public
hearing in the Council Chamber of Anaheim City Hall, 200 South Anaheim Boulevard, Anaheim
CA 92805 on Tuesday,July 30,2019,at the hour of 5:30 p.m. or as soon thereafter as the
matter may be heard 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 $15,000,000, in order to
finance the acquisition, rehabilitation and conversion of a 70-unit motel to a 69-unit, plus one
manager's unit permanent supportive rental housing development described below:
Name: Econo Lodge Apartments
Location: 2691 West La Palma Avenue, Anaheim, CA
Number of Units: 69 units plus One Manager's Unit
Maximum Bond Amount: $15,000,000
The Developer or operator of the Project will be JHC-Acquisitions LLC, a
California limited liability company ("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 extremely
low income 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, Community Investment Manager, Anaheim Housing Authority, (714) 765-4368.
THE CITY COUNCIL OF THE CITY OF ANAHEIM
Published: July 18, 2019
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. 2019-095 adopted at a regular meeting provided by law, of the Anaheim
City Council held on the 30th day of July, 2019 by the following vote of the members thereof:
AYES: Mayor Sidhu and Council Members Kring, Barnes, Brandman, Moreno, Faessel,
and O'Neil
NOES: None
ABSTAIN: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand this 30th day of July, 2019.
CITY CLERK 0 THE CITY OF ANAHEIM
(SEAL)