HA1997/05/20ANAHEIM CITY HALL, ANAHEIM HOUSING AUTHORITY
MAY 20, 1997
PRESENT:CHAIRMAN: Tom Daly
PRESENT:AUTHORITY MEMBERS: Shirley McCracken, Tom Tait, Bob Zemel, Lou Lopez
ABSENT:AUTHORITY MEMBERS: None
PRESENT:CITY MANAGER: James Ruth
CITY ATTORNEY: Jack White
SECRETARY: Leonora N. Sohl
EXECUTIVE DIRECTOR OF COMMUNITY DEVELOPMENT: Lisa Stipkovich
A complete copy of the agenda for the meeting of the Anaheim Housing Authority was posted at 2:50
p.m. on May 16, 1997 at the City Hall Kiosk, containing all items as shown herein.
Chairman Daly called the regular meeting of the Anaheim Housing Authority to order at 5:48 p.m.
FINANCIAL DEMANDS AGAINST THE ANAHEIM HOUSING AUTHORITY
in the amount of $24,812.84
for the period ending May 16, 1997, in accordance with the 1996-97 Budget, were approved.
ADDITIONS TO THE AGENDA:
There were no additions to agenda items.
ITEMS OF PUBLIC INTEREST:
No items of public interest were addressed.
PUBLIC COMMENTS - AGENDA ITEMS:
There were no public comments on Housing Authority
Agenda items.
177: APPROVAL OF MINUTES:
1. Chairman Daly moved to approve the minutes of the
Anaheim Housing Authority meeting held May 6, 1997, Authority Member McCracken seconded
the motion. MOTION CARRIED.
5:00 P.M. PUBLIC HEARING - ANAHEIM HOUSING AUTHORITY:
ISSUANCE OF MULTIFAMILY HOUSING REVENUE BONDS:
2.137:
To consider the possible issuance by the Anaheim Housing Authority of three series of
multifamily housing revenue bonds. Proceeds from the sale of bonds are intended to:
(1) Finance the acquisition and rehabilitation of a 112-unit multifamily rental housing project
known as “Casa Granada Apartments, located at 2555 West Winston (bonds in the principal
amount of $3,780,000).
(2) Finance the acquisition and rehabilitation of a 127-unit multifamily rental housing project
known as “Monterey Apartments, located at 3443 Del Monte Drive (bonds in the principal amount
of $4,590,000).
(3) Finance the acquisition and rehabilitation of a 58-unit multifamily rental housing project
known as “Port Trinidad Apartments, located at 644 South Knott (bonds in the principal amount
of $2,115,000).
Submitted was report dated May 20, 1997 from the Community Development Department
recommending approval of the subject actions.
Chairman Daly. He asked if the City was contributing to the project.
Lisa Stipkovich, Executive Director of Community Development. There is no City money in the project.
The $1.9 million is part of the bond issue. As stated in the report, “Neither the City nor the Housing
Authority has any debt obligation relating to the bond issue.” With the tax exempt financing, they are
able to borrow, acquire, and rehabilitate the facilities. The City/Authority is basically a conduit in this
case.
Chairman Daly. Approximately 300 units in West Anaheim will be rehabilitated as a result and staff
confirmed that the City is in no way associated with the debt.
Chairman Daly offered Resolution No. AHA97-1 for adoption. Refer to Resolution Book.
RESOLUTION NO. AHA97-1: A RESOLUTION OF THE OF THE ANAHEIM HOUSING
AUTHORITY AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF VARIABLE RATE
DEMAND MULTIFAMILY HOUSING REVENUE BONDS; AUTHORIZING THE EXECUTION
AND DELIVERY OF THE BONDS, INDENTURES OF TRUST, BOND PURCHASE
AGREEMENTS, REGULATORY AGREEMENTS, FINANCING AGREEMENTS, AND A
COMPOSITE OFFICIAL STATEMENT; AND AUTHORIZING THE EXECUTION AND
DELIVERY OF AND APPROVING OTHER RELATED DOCUMENTS, AND APPROVING
OTHER RELATED ACTIONS IN CONNECTION WITH THE ISSUANCE OF THE BONDS.
Roll Call Vote on Resolution No. AHA97-1 for adoption:
AYES:CHAIRMAN/AUTHORITY MEMBERS:McCracken, Tait, Zemel, Lopez, Daly
NOES:CHAIRMAN/AUTHORITY MEMBERS:None
ABSENT:CHAIRMAN/AUTHORITY MEMBERS:None
The Chairman declared Resolution No. AHA97-1 duly passed and adopted.
ADJOURNMENT: Chairman Daly moved to adjourn, Authority Member McCracken seconded the
motion. MOTION CARRIED. (5:52 p.m.)
LEONORA N. SOHL
SECRETARY