City Council

22. Approve the Tax Equity Fiscal Responsibility Act (TEFRA) Resolution Hearing for\nNorth Harbor Housing Partners LP (the “Borrower”) a Partnership of which Jamboree\nHousing Corporation (the “Developer”), Consisting at Least the Developer or a\nRelated Person to the Developer and One or More Limited Partners\nLegal Notice published in the OC Reporter on April 25, 2025.\nDepartment(s): Community Development Agency\nRecommended Action: 1. Conduct a Tax Equity and Financial Responsibility Act\n(TEFRA) Hearing in consideration of the issuance of tax exempt bond financing by the\nCalifornia Municipal Finance Authority (the “CMFA”) on behalf of North Harbor\nHousing Partners LP (or the “Borrower”), for the benefit of Estrella Springs Apartment,\nFKA North Harbor Village Apartments (the “Project”) to finance or refinance the\nacquisition, construction, improvement and equipping of Estrella Springs, a\nmultifamily rental housing project located at 1108 North Harbor Boulevard, Santa Ana\n(the “Project”).\n2. Adopt a resolution approving the issuance of revenue bonds by the CMFA in an\namount not to exceed $30,000,000 to finance or refinance the acquisition,\nconstruction, improvement and equipping of a multifamily rental housing project\nlocated at 1108 North Harbor Boulevard, Santa Ana, California (the “Project”).\nRESOLUTION NO. 2025­XXX entitled A RESOLUTION OF THE CITY COUNCIL OF\nTHE CITY OF SANTA ANA APPROVING THE ISSUANCE BY THE CALIFORNIA\nMUNICIPAL FINANCE AUTHORITY OF EXEMPT FACILITY BONDS FOR\nESTRELLA SPRINGS\n3. Preauthorize the City Manager to execute a future Subordination Agreement with\nJP Morgan Chase Bank, N.A. for the City’s Community Development Block Grant loan\nagreement with North Harbor Housing Partners LP.