City Council

2.4 Tax Equity and Fiscal Responsibility Act Public Hearing Authorizing\nCalifornia Municipal Finance Authority to Issue Bonds on Behalf of Wildomar\nFamily Housing, L.P.\nLocation: 32650 Mesa Drive\nPresented By: Heidi Schrader , Administrative Services Department\nRECOMMENDATION:\n1. Conduct a Tax Equity and Fiscal Responsibility Act (TEFRA) Public Hearing\nregarding the issuance of revenue bonds along with the related plan of financing\nfor the acquisition, development, construction and equipping of Wildomar\nCottages, an 130-unit residential rental project to be located at 32650 Mesa Drive,\nwithin the City of Wildomar\n2. Adopt a Resolution entitled:\nRESOLUTION NO. 2024-___\nA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR,\nCALIFORNIA, APPROVING A PLAN OF FINANCE INCLUDING THE ISSUANCE\nOF REVENUE BONDS BY THE CALIFORNIA MUNICIPAL FINANCE\nAUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED\n$55,000,000 TO FINANCE AND REFINANCE A QUALIFIED RESIDENTIAL\nRENTAL PROJECT FOR THE BENEFIT OF WILDOMAR FAMILY HOUSING,\nL.P., A CALFORNIA LIMITED PARTNERSHIP (OR AN AFFILIATE), AND\nCERTAIN OTHER MATTERS RELATING THERETO\n10