AHA-2017/02/07ANAHEIM HOUSING AUTHORITY
REGULAR MEETING OF FEBRUARY 7, 2017
The Anaheim Housing Authority regular meeting was called to order at 5:28 P.M. in City Council
Chambers located at 200 S. Anaheim Blvd. for a joint public comment session with the Anaheim
City Council. The meeting notice, agenda and related materials were duly posted on February 3,
2017.
PRESENT: Chairman Tom Tait and Authority Members: James Vanderbilt, Kris Murray, Denise
Barnes, Jose F. Moreno, Lucille Kring, and Stephen Faessel.
STAFF PRESENT: City Manager Paul Emery, Acting City Attorney Kristin Pelletier and
Secretary Linda Andal.
ADDITIONS/DELETIONS TO THE AGENDA: None.
PUBLIC COMMENTS:
No public comments offered related to the Housing Authority agenda.
CONSENT CALENDAR: At 7:13 P.M., Authority Member Kring moved to approve the consent
calendar as presented, seconded by Authority Member Faessel. APPROVED VOTE: 7-0.
Motion carried.
AHA177 1 • Approve minutes of Housing Authority meeting of October 25, 2016 and November 1,
2016.
END OF CONSENT CALENDAR
B137.1 2• RESOLUTION NO. AHA 2017-001 A RESOLUTION OF THE ANAHEIM
HOUSING AUTHORITY authorizing the issuance of its Multifamily Housing Revenue
Note ("Note") in an aggregate principal amount not to exceed $17,000,000 for the
purpose of financing the acquisition, rehabilitation and equipping of the Sea Wind
Apartments Multifamily Rental Housing Project; approving and authorizing the execution
and delivery of any and all documents necessary to issue the Note, complete the
transaction and implement this Resolution, and ratifying and approving any action
heretofore taken in connection with the Note
(1925 West Greenleaf Avenue; 91 -unit multifamily rental housing complex).
John Woodhead, Community and Economic Development executive director, reported both Item
Nos. 2 and 3 were conduit financings which had been brought forward twice before to both the
Anaheim Housing Authority (AHA) for inducement resolutions and to the City Council for TEFRA
hearings. He explained with conduit financing, AHA was acting as the issuer of debt on behalf
of a project with the pledge for repayment of the project debt only coming from the project itself;
he further advised the full faith and credit of neither the City nor AHA was at stake.
Anaheim Housing Authority Minutes of February 7, 2017
Page 2 of 3
DISCUSSION: Chairman Tait confirmed the actions created no liabilities for the City or AHA nor
any bond payments, with Mr. Woodhead adding the only item in jeopardy would be the project
itself, through project revenues or sale to repay any debt.
Vice Chairman Vanderbilt read a portion of the resolution focused on providing units for low
income residents, noting it would increase the housing stock available in the city and potentially
assist homeless individuals.
MOTION: Authority Member Kring moved to approved Item No. 2, seconded by Authority
Member Barnes. APPROVED VOTE: 7-0. Motion carried.
B137.1 3. RESOLUTION NO. AHA 2017-002 A RESOLUTION OF THE ANAHEIM
HOUSING AUTHORITY authorizing the issuance of its Multifamily Housing Revenue
Note ("Note") in an aggregate principal amount not to exceed $10,000,000 for the
purpose of financing the acquisition, rehabilitation and equipping of the Cobblestone
Apartments Multifamily Rental Housing Project; approving and authorizing the execution
and delivery of any and all documents necessary to issue the Note, complete the
transaction and implement this Resolution, adopting a debt issuance and management
policy in compliance with government Code Section 8855 and ratifying and approving
any action heretofore taken in connection with the Note
(870 South Beach Boulevard; 64 -unit multifamily rental housing complex).
DISCUSSION: Vice Chairman Vanderbilt reiterated his earlier statements that this property
would also provide housing for low and very low income persons or families within the
community.
In response to Authority Member Moreno, Mr. Woodhead explained the definitions of low and
very low income varied based on family size with low income being 60-79% of Area Median
Income (AMI) and very low income being 50% of AMI and below. He continued that for a family
of four, the AMI was approximately $70,000 so very low income would be $35,000 and below
with low income at approximately $50,000.
MOTION: Authority Member Faessel moved to approve Item No. 3, seconded by Authority
Member Kring. APPROVED VOTE: 7-0. Motion carried.
ADJOURNMENT:
There being no further business, Chairman Tait adjourned the meeting of the Anaheim Housing
Authority at 7:22 P.M.
ctfully submitted,
Linda N. Andal, CMC
Secretary, Anaheim Housing Authority